The agreements were signed by BEL Chairman and Managing Director Manoj Jain and Safran’s Executive Vice President and Defence Director Alexandre Ziegler in the presence of Defence Minister Rajnath Singh and French Minister of the Armed Forces and Veteran Affairs Catherine Vautrin during the 6th India-France Annual Defence Dialogue in Bengaluru. The equal-shareholding joint venture will focus on manufacturing, supply and maintenance of HAMMER missiles for the Indian Air Force and Indian Navy, reinforcing the Atmanirbhar Bharat initiative and reducing import dependence. The combat-proven HAMMER system, known for its high accuracy and modular design, is compatible with platforms such as the Dassault Rafale and the HAL Tejas, and the collaboration aims to leverage Safran’s expertise while strengthening India’s defence industrial base.

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Yantra India Limited has recorded strong financial and operational growth, with sales increasing from ₹956.32 crore in the second half of FY 2021–22 to ₹3,108.79 crore in FY 2024–25. Its export performance has also shown a sharp rise, growing from zero exports in FY 2021–22 (H2) to ₹321.77 crore in FY 2024–25. The company’s diversified product portfolio includes carbon fibre composites, assemblies for medium and large calibre ammunition, armoured vehicles, artillery guns, main battle tanks, glass composites and aluminium alloys, strengthening India’s indigenous defence manufacturing capabilities.

With the Miniratna Category-I status, YIL’s Board has been empowered to approve capital expenditure of up to ₹500 crore for new projects, modernisation and procurement of equipment without prior government approval, enabling faster decision-making and accelerated growth. Yantra India Limited was formed on October 1, 2021, following the corporatisation of the erstwhile Ordnance Factory Board into seven new defence public sector undertakings to enhance efficiency, autonomy and innovation. YIL is a Schedule ‘A’ DPSU under the Department of Defence Production, and this decision further reinforces the Government’s vision of Aatmanirbhar Bharat by reducing import dependence and positioning India as a global hub for defence production.

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