BEL plans to invest about ₹2,200 crore in R&D in FY27, largely for indigenization and technology upgrade, while capital expenditure is seen at ₹1,200 crore. The government had allowed the company to retain incremental profits from indigenization for capability upgrade, R&D etc. BEL has achieved indigenization levels of 80% versus about 60% till FY22, and aims to eliminate all component imports except semiconductors over the next five years.
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