HAMMER deal: BEL, Safran to set up India JV post Modi-Macron talks

Bharat Electronics Ltd (BEL) and France's Safran have formed a joint venture to locally produce HAMMER precision-guided munitions in India. This partnership, announced following talks between Prime Ministers Modi and Macron, aims to bolster India's domestic defense manufacturing and reduce import dependence for advanced weapons. The joint venture will establish a Center of Excellence with equal equity for both companies.