Navaratna Defence PSU Bharat Electronics Limited (BEL) has appointed KPMG, a global consulting firm, to help identify future market opportunities for growth. A 6-month contract has been signed wherein, KPMG will study BEL’s present plans and identify opportunities for expansion of business in the existing areas as well as new business segments not presently addressed by BEL. The contract was signed at a function held at BEL’s Corporate headquarters in Bangalore, on Friday (June 27, 2008), in the presence of Mr V V R Sastry, Chairman & Managing Director, BEL, and Mr. Richard Rekhy, Chief Operating Officer, KPMG India. The contract was signed by Mr. D.A.Mohan, Executive Director (Strategy and Systems), on behalf of BEL and Mr. Ramesh Srinivas, Executive Director, on behalf of KPMG India.

Mr. V.V.R. Sastry, CMD, BEL, said that the Company has been on the path of growth over the last decade and is in the process of consolidation in areas of BEL’s core strengths. Time has come for BEL to revisit its growth and business strategies and make it more suited to today’s competitive environment. KPMG will draw detailed business plans for the chosen areas and also assist in implementation and project monitoring where necessary, he said.

Mr. Richard Rekhy, Chief Operating Officer, KPMG India, said that competition had become a global phenomenon today and modern businesses need to adapt to it quickly. KPMG has, in the past, helped various other firms evolve appropriate strategies to meet the challenging needs of globalisation. “We are confident that BEL can reaffirm its position as a leader in the industry and register a quantum jump in growth,” he said.

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About BEL

Bharat Electronics Limited (BEL) was established in Bangalore by the Government of India under the Ministry of Defence in 1954 to meet the specialised electronic needs of the Indian defence services. Over the years, it has grown into a multi-product, multi-technology, multi-Unit company serving the needs of customers in diverse fields in India and abroad. Having been conferred the prestigious Navaratna status based on its consistent performance, BEL looks forward to leverage the increased functional autonomy for further business growth and diversification.

About KPMG

KPMG is the global network of professional services firms of KPMG International. KPMG member firms provide audit, tax and advisory services through industry focused, talented professionals, who deliver value for the benefit of their clients and communities. KPMG in India has offices in Mumbai, Delhi, Bangalore, Chennai, Hyderabad, Kolkata and Pune and services over 2,000 international and national clients. The firms in India have access to more than 900 Indian and expatriate professionals