BEML unveils phase-I aerospace SEZ facility in Bengaluru
The facility was inaugurated by Shri Shantanu Roy, Chairman and Managing Director, BEML, in the presence of Functional Directors, senior officials from BEML, and dignitaries from KIADB, an official release added.
In a strategic move to bolster its Aerospace ambitions, the foundation stone for Phase II of the project, which will see the development of a 1.15 acres of land facility in the same SEZ, was also laid.
BEML currently holds a total of 25 acres of land in the Aerospace SEZ, which it plans to develop into a vibrant industrial hub catering to the fast-growing defence and aviation sectors.
This initiative marks a significant milestone in BEML's long-term vision of supporting India's aerospace growth and creating a robust supply chain ecosystem for global and domestic Original Equipment Manufacturers (OEMs).
Speaking at the occasion, Shantanu Roy, CMD, BEML said, 'The inauguration of this warehousing facility marks a significant step in BEML's journey to becoming a key enabler in India's aerospace and defence ecosystem. This is more than just infrastructure--it's a strategic foundation for future capabilities in advanced manufacturing, MRO services, and global exports aligned with international OEM standards.'
The Aerospace SEZ facility, located near Kempegowda International Airport, is part of a larger plan that includes setting up a dedicated manufacturing unit over 20 acres to produce next-generation aerostructures, drones, aggregates, and components for the Air Defence and allied sectors.
This unit will be developed through collaborations with global aerospace OEMs, establishing BEML as a key player in the international aerospace manufacturing landscape. To support its warehousing operations, BEML has entered into a strategic service agreement with M/s LOM SUPPLY CHAIN INDIA, a reputed logistics service provider with extensive experience in SEZ and Domestic Tariff Area operations.
The facility is designed not only to support BEML's internal logistics, but also to offer warehousing and allied services to other OEMs, Tier-1, and Tier-2 players.
With Bangalore's rapidly expanding warehousing and logistics sector, BEML's SEZ facility is ideally located to capitalize on connectivity via NH7, the Outer Ring Road, and proximity to the airport, making it an attractive hub for both domestic and global trade.
This initiative is expected to generate over 500 employment opportunities in the region, further supporting local economic development.
BEML envisions to create a Centre of Excellence for Aerospace Technologies within this SEZ, empowering India's self-reliance journey in defence and aerospace while creating a vibrant ecosystem for innovation, collaboration, and growth.
BEML Limited, a leading multi-technology 'Schedule A' company under the Ministry of Defence. BEML operates in three verticals: Defence & Aerospace, Mining & Construction, and Rail & Metro. It has state-of-the-art manufacturing facilities located in Bengaluru, Kolar Gold Fields (KGF), Mysore, and Palakkad, with a strong R&D infrastructure and a nationwide sales and service network. (ANI)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Indias forex reserves dip $3.06 bn to $696.67 bn, second straight weekly decline
Mumbai (Maharashtra) [India], July 20 (ANI): India's foreign exchange reserves fell by USD 3.06 billion to USD 696.67 billion for the week ending July 11, marking the second straight week of decline, according to the official data released by the Reserve Bank of India (RBI). In the previous reporting week of July 4, the country's forex reserves witnessed a slip of USD 3.049 billion to USD 699.736 billion. In the week ending July 11, foreign currency assets, which are the major constituent of the forex reserves, fell USD 2.477 billion to USD 588.81 billion, possibly becoming the major reason for the fall in the forex reserves. The Gold reserves, another major component of the forex, again witnessed a sharp fall of USD 498 million to USD 84.348 billion. The country's Special Drawing Rights (SDRs) with the global financial body, the International Monetary Fund (IMF), saw a dip of USD 66 million to USD 18.802 billion during the reporting week of July 11, according to the RBI data. The Reserve Position in the IMF also decreased by USD 24 million, according to the data. Central banks worldwide are increasingly accumulating safe-haven gold in their foreign exchange reserves kitty, and India is no exception. The share of gold maintained by the Reserve Bank of India (RBI) in its foreign exchange reserves has almost doubled since 2021, till recently. In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion, touching an all-time high of USD 704.885 billion at the end of September 2024. India's foreign exchange reserves (Forex) are sufficient to meet 11 months of the country's imports and about 96 per cent of external debt, said Governor Sanjay Malhotra while announcing the outcome of the Monetary Policy Committee (MPC) decisions. The RBI governor expressed confidence, stating that India's external sector is resilient and key external sector vulnerability indicators are improving. Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling. The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens. (ANI)
Mint
2 hours ago
- Mint
Replacement demand to drive tyre sector revenues by 7-8% this fiscal: Crisil
New Delhi [India], July 20 (ANI): India's tyre sector is set to see steady revenue growth of 7-8 per cent this fiscal, driven by replacement demand that accounts for half of annual sales, even as offtake by original equipment manufacturers (OEMs) will likely be subdued and exports steady, said Crisil Ratings in a report. The report added that the rising premiumisation is expected to give a slight leg-up to realisations. However, escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges. Operating profitability is likely to remain steady at 13-13.5 per cent, supported by stable input costs and healthy capacity utilisation. This, along with strong accruals, lean balance sheets and calibrated capital spending, should help sustain the sector's stable credit outlook, the report added. The Indian domestic demand remains the mainstay, propelling 75 per cent of total volume with exports making up the rest. Anuj Sethi, Senior Director, Crisil Ratings, said, "Volume growth is seen at 5-6 per cent this fiscal, mirroring last fiscal. The replacement segment (accounting for 50 per cent of volume) is set to grow 6-7 per cent on the back of a large vehicle base, strong freight movement and rural recovery. OEM volume (25 per cent) will likely rise 3-4 per cent, supported by steady two-wheeler and tractor sales, and modest growth in passenger vehicles and commercial vehicles. Export volume (25 per cent) is expected to grow 4-5 per cent, supported by demand from Europe, Africa and Latin America."The report further added that the export momentum, however, comes with risks. The US, accounting for 17 per cent of India's tyre export volume last fiscal, and 4-5 per cent of overall industry volume, has imposed reciprocal tariffs on several Indian goods, potentially eroding price competitiveness. And steep US tariffs limit China's access to that market, raising the risk of excess supply being divertedinto price-sensitive markets such as India. To curb cheap imports, India imposes anti-dumping and countervailing duties, including a 17.57 per cent levy, on large truck and bus radial tires from China. However, a broader influx of low-cost tyres across other segments could pressure domestic realisations without timely safeguards. Besides, stiff competition in the replacement market will keep operating profitability rangebound at 13.0-13.5 per cent this fiscal. With nearly half of the raw material imported, the sector is exposed to global prices and fluctuations in foreign exchange rates. Poonam Upadhyay, Director, Crisil Ratings, said, "India's tyre sector, grappling with margin pressure, could see price competition intensify if US tariffs push low-cost Chinese products being dumped. Competitive intensity is already capping realisations in the replacement segment, so the risk of prolonged under-recovery of input cost remains high. To counter, manufacturers are likely to maintain capital expenditure (capex) at ~ ₹ 6,000 crore this fiscal, focused on high-utilisation passenger car radials and two-wheeler capacities, along with automation and backward integration to improve cost efficiency and protect profitability." In fiscal 2025, natural rubber prices surged 8-10 per cent owing to supply disruptions andas prices of crude-linked inputs such as synthetic rubber and carbon black rose 10-12 per cent. This led to margin erosion by 300 basis points, given the limited cost pass-through in the OEM and replacement segments, the report added. (ANI)
Mint
3 hours ago
- Mint
Local rare-earth production to take time, govt support needed for EV sector: Kinetic Green CEO
New Delhi [India], July 20 (ANI): Sulajja Firodia Motwani, Founder and CEO of Kinetic Green, has called for government intervention in the rare-earth materials issue, stating that while the Indian electric vehicle (EV) sector has managed to cope in the short term, it will face significant challenges ahead, as "it's not easy to change your product design and supply chain." Kinetic Green founder emphasised that it could take at least two to three years for the players in the automobile sector to localise the supply chain or adopt alternative technologies. "It will impact the industry if it's not solved because it's not easy to change your product design and supply chain. The EV sector is scrambling somehow to manage for the short run. But I think there has to be a government-to-government solution very soon in the medium term. Because it will take two to three years to try to localise the supply chain or change the technology altogether. So I think it's important that this is resolved," Sulajja Firodia Motwani said during the unveiling event of the company's electric Luxury Golf & Lifestyle Cart in partnership with Tonino Lamborghini SpA of Italy. She further added, "We faced a similar situation in COVID on semiconductors; if you remember, the government did follow through and resolve it. I'm hopeful that something will emerge from this." She added that until the issue is solved, the company is working on developing alternative technologies to mitigate the adverse impact of such restrictions arising from global geopolitical moves. "But in the meantime, we are finding alternatives so that the business can continue, but it's not ideal to do that, and also maybe not everybody can. So it (restrictions on rare-earth material by China) will impact the sector," she added. The central government has earmarked ₹ 1,345 crore to incentivise rare earth magnets production in India. For context, early this April, China announced a decision to implement export controls on certain rare earth-related items, pushing a supply shortage across the world, including India. Meanwhile, India is in touch with the Chinese side, seeking predictability in the supply of rare earth metals -- which had been put under the export controls regime by the Xi administration. China's overwhelming control of global rare earth processing - commanding over 90 per cent of the world's magnet production capacity - has created significant vulnerabilities for industries worldwide. These materials are critical across multiple sectors, including automobiles, home appliances, and clean energy China, there are only a few alternative suppliers of critical minerals. The Union Cabinet in January 2025 approved the launch of the National Critical Mineral Mission (NCMM) with an expenditure of ₹ 16,300 crore and an expected investment of ₹ 18,000 crore by Public Sector Undertakings. Recently, Union Minister for Coal and Mines G Kishan Reddy said the central government is actively encouraging private companies to mine and explore critical minerals overseas and bring them back into the country to serve the needs of the domestic industry. Speaking on the incentives to the industry, Motwani said, "The government has to continue supporting the adoption of EVs. Once we come to, today we are at about 7-8 per cent EV. Once we come to 25-30 per cent EV, then we'll have critical mass on supply chain, on scale, and on ecosystem. "We have begun well, but we are far from done. The government must continue supporting the adoption of electric vehicles," she added. She further noted the resistance from traditional internal combustion engine (ICE) players who have vested interests in maintaining the status quo. "There is a large counterforce from existing ICE manufacturers who naturally want to protect their investments and may not wish to see EVs succeed. However, it's encouraging that the government remains focused. Schemes like EMPS and the PM-eBus Sewa, lower GST rates, ecosystem support, and a strong Make-in-India push should continue to drive demand and adoption," Kinetic Green founder asserted.(ANI)
