Garden Reach Shipbuilders & Engineers has signed a Memorandum of Understanding with Centum Electronics on Wednesday for high-tech navigation systems. In an exchange filing, Garden Reach Shipbuilders stated that the MoU establishes a collaborative framework between the company and Centum, aimed at joint research and development of Advanced Naval Navigation Systems.
“This partnership shall focus on leveraging and enhancing manufacturing infrastructure for components and sub-assemblies of these systems, including Onboard Installation, Integration, Setting to Work and Trials, and shall also provide services for the modernisation and upgrade of existing Systems.” Garden Reach Shipbuilders stated.
Timing of MoU and significant
The MoU between GRSE and Centum Electronics, a public sector company, comes at a time when the Indian government is promoting increased public-private partnerships in the defence sector.
Centum Electronics, which offers design, development, and manufacturing solutions in the defence, aerospace, and industrial sectors, is a suitable partner for GRSE’s requirements. GRSE states that the partnership is a significant step towards advancing indigenous capability in high-technology navigation systems for the Indian Navy.
Furthermore, GRSE said that the collaboration represents an important milestone in the company’s continued efforts to expand its technological horizons and support the Government of India’s ‘Aatmanirbhar Bharat’ initiative by fostering indigenous Research and Development and manufacturing in advanced defence systems.
GRSE stock price
As the order boom in the defence sector continues, GRSE has emerged as one of the biggest gainers. In the past six months, the public sector undertaking’s stock has risen 71 per cent. In the past month, GRSE’s stock has gained 13.4 per cent.