Secunderabad (Telangana) [India], December 3 (ANI): Bharat Dynamics Limited (BDL) and the Indian Army signed a contract worth Rs 471.41 crore for the refurbishment of IGLA-1M missiles, said a press release.

After the Refurbishment, a fresh lease of life will be given to the missile for a period of ten years. The value of the Contract is Rs 471.41 Crore, which was signed on Wednesday in New Delhi.

Also Read | COVID-19 Vaccine Will Likely Prevent Disease, Death Regardless of Variant: WHO.

The Company, in addition to carrying out refurbishment, deals with the manufacture and supply of Guided Missiles and associated equipment, Underwater Weapon Systems, Airborne Weapon Systems, Ground Support Equipment and product life cycle support.

In order to give momentum to its efforts towards self-reliance, BDL has also built up its in-house R&D capabilities primarily focussing on design & engineering activities. The Company is leveraging emerging technologies like Artificial Intelligence to develop futuristic weapons for the Armed Forces.

Also Read | Delhi Man Robs iPhone at Knife-Point to Gift His Girlfriend, Held.

To tap the export potential of its products, BDL has forayed into the international market by offering its exportable products to friendly foreign countries. The Company has already exported Torpedoes to a friendly foreign country in the past. BDL is also receiving leads from several countries for its products.

To upgrade its technological capability, BDL has made a paradigm shift in its manufacturing processes by leveraging niche technologies, adopting practices like industry 4.0, operating the latest Surface Mounted Devices assembly lines etc. These have proved to be some of the enablers for the Company to contribute towards making the nation 'Atmanirbhar' (self-reliant) in the Defence sector and also to export its 'Made in India' products to friendly foreign nations.

To further take this forward, BDL has also taken up several initiatives to be a part of the global supply chain by entering into MoUs/agreements with foreign Original Equipment Manufacturers.

The Company, as a part of its expansion plans, is setting up a new unit at Jhansi in the UP Defence Corridor, which will be its sixth manufacturing unit and first one in northern India. Hon'ble Prime Minister of India laid the foundation stone for the new unit last month, where BDL will be manufacturing Propulsion System which will be used in all Anti-Tank Guided missiles and futuristic missiles manufactured by the Company. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)