Balu Forge Industries Ltd (BFIL) highlights Defence Production as the next catalyst for its growth
Mumbai, April 6th 2021: The Indian Government has given a great Impetus to Domestic Factories to take part in Defence Production in the recent years in a strategy to make the Indian Defense Industry self reliant/ 'Aatmanirbhar'. A large part of the procurement program has also moved to the Private Sector with a considerable investment made by the Indian Industry to support the Indian Defence Production. The Government had also in 2020 barred a majority of Import Procurement by the Defence Companies giving a further rise to Home Grown Companies actively participating in the Indian Defence Sector.
There has been a strong focus at Balu Forge towards building readiness for the needs of India as well as a Hub for the Global Defence Industry. We are already an approved vendor to a majority of the 41 Ordnance Factories part of the Ordnance Factory Board in India & for the supply of 182 Components to the above factories.
A large part of the Capital Investment for the next 10 years is planned towards Defence Production with also key Joint Ventures/Technology Partnerships in the Pipeline. The key areas planned in the coming years are Artillery, Undercarriage parts for Armored Vehicles, Weapons & Ammunition for Light & Heavy Regiments and Forged & Machined Components for the Engine Division.
There is a Dedicated Unit planned for Ammunition & Advance Defence System Production in partnership with prominent players in the Global Defense Production Mix. In Addition to the Dedicated Defence Production Facility, the R&D & Innovation Campus in Belgaum, India will spearhead the strategy laid down to build Advance Defence systems & solutions. The R&D unit will work through a 4000 Square Meter Technology Center fully equipped with State of the art Equipment. The Dedicated Defence Unit is set to commercialize production from Q4 FY 2021/22 & the R&D Center from Q2 FY 2021/22.
We have also secured & successfully supplied for over 5 years to Defense Forces in two prominent European Countries and executed supply as a single source to these nations. There will continue to be a strong focus on further expanding the reach & customer base amongst more Defense Organizations globally & building a strong Defence Production Center for the Local & Global Defence Industry.
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