Garware-Wall Ropes (GWRL), a leading manufacturer of technical textiles for the Indian and global markets, announced the signing of a Memorandum of Understanding (MOU) with Israel's Aero-T showing intention to combine their capability for manufacturing and supply of advanced aerostats for Indian Defence.
India's vast borders comprising of 15200 KM of land and a coastline of 7517 KM present a challenging security scenario and there is an imperative need to monitor the same effectively. Aerostats are tethered balloons and have capabilities of operating at altitudes of up to 15,000 feet. Augmented with radars, aerostats are a force multiplier and have proved very effective for low level ground surveillance. They are highly versatile in their mobility given their portability and can be deployed in varied terrain providing an omnipresent eye to monitor threats.
Vayu Ganvare, CMD, Garware-Wall Ropes, said, "We have always been committed to be a centre of excellence serving the needs of our customers through innovative differentiated solutions. The MOU with Aero- T marks another step on our 'Make in India' approach wherein we along with Aero-T will be able to cater to the needs of the Indian Defence by providing completely indigenised aerostats backed by our reliable delivery and maintenance support. It is a great occasion, announcing this collaboration with an Israeli company, when our Hon'ble Prime Minister Narendra Modi is in Israel to enhance the bilateral ties between our two countries."
Shares of the company gained Rs 51.45, or 6.21%, to trade at Rs 879.85. The total volume of shares traded was 11,993 at the BSE (11.25 a.m., Wednesday).