Newsletter
L&T shares rose over 1% on Thursday after the company announced a defence partnership with French tech firm Exail Technologies.
Exail makes advanced drones, robotics, and navigation systems used by navies and defence forces around the world, including mine-clearing technology.
Breaking it down: the two companies will equip the Indian Navy’s upcoming fleet of 12 Mine Counter Measure Vessels with an advanced Unmanned MCM Suite.
The Unmanned MCM Suite is a set of drones and remote-controlled systems designed to detect and destroy underwater mines, which are hidden explosives that can damage warships and commercial vessels.
L&T will lead the project in India and supply the systems to shipyards, while Exail will provide the globally used mine-clearing technology already deployed by several navies around the world.
The bigger picture: the deal ties into India’s bigger defence push as the government increases military spending amid rising geopolitical tensions and after Operation Sindoor.
With a record ₹7.85 lakh crore defence budget for 2026-27, the focus is on building more defence technology within India under the Make in India and Aatmanirbhar Bharat push.
The partnership also strengthens defence ties between India and France.
PIB
