The Government has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics Limited (HAL) on 11th July, 2017.
The MoU outlines targets on various performance parameters of the company during the year 2017-18. The revenue from operations has been targeted at Rs.17,900 crore, the highest ever. Specific emphasis has been laid on capacity building, modernisation, solar power plants and aiming to achieve capital expenditure of Rs.1300 crore. The thrust on ‘Make in India’ is ensured by inclusion of specific milestones for projects such as Light Combat Helicopter (LCH), Jaguar DARIN-III Upgrade, Mirage 2000 Upgrade and civil version of Dornier Aircraft. The company also aims to achieve 5% increase in indigenous content through indigenisation under ‘Make in India’ initiatives, over the previous year.