Bharat Forge Limited (BFL) has signed a contract from MoD for supply of Advanced Towed Artillery Gun Systems (ATAGS). The contract also includes about 184 units of ATAGS 155mm/52-calibre guns, worth approximately ₹4,140 crore. This is the biggest domestic defence deal ever for Bharat Forge as it constitutes 60% of the total ₹6,900 crore procurement earmarked for this artillery system.
ATAGS (Advanced Towed Artillery Gun System) – The ATAGS has been developed as a collaborative project between Bharat Forge and the Defence Research and Development Organisation (DRDO) aimed at increasing India’s self-reliance in defence technology.
The deal is a big milestone for the Atmanirbhar Bharat initiative, which aims to curb India’s dependence on foreign defence imports and boost local manufacturing. Bharat Forge Chairman and Managing Director Baba Kalyani termed the deal a landmark accomplishment for both the firm and India’s defence sector.
Kalyani credited the MoD, the Indian Army, DRDO, Armament Research and Development Establishment (ARDE) as well as Bharat Forge’s team for turning this project into reality. ATAGS is part of an agenda by the government to boost indigenisation of armaments in India and strengthens Bharat Forge’s position formenting the defence manufacturing landscape in general.
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.