New Delhi: The Indian Government has decided to award aerospace majors Hindustan Aeronautics Limited (HAL) and Bharat Electronics Limited (BEL) with the coveted navratna status. According to K P Singh, secretary, defence production, who announced the decision, the Cabinet Committee on Economic Affairs (CCEA) has already cleared the proposal.
The two defence PSUs will benefit from the decision, as they would enjoy more operational and financial autonomy, which would help them take speedy decisions without reverting to the government.
HAL, which has the distinction of building the first military aircraft in the Indian sub-continent, is currently involved in design farbication and assembly of fighter aircraft, jet engines, helicopters and spares. Also, the company has been consistently posting profits for the last ten years.
BEL manufactures state-of-the-art products in defence electronics, such as communication including encryption, radars and strategic components.