New Delhi, Sep 30 (IANS): State-run Bharat Electronics (BEL) and French technology giant Thales Tuesday announced that the government has approved incorporation of their joint venture (JV) company, BEL-Thales Systems Ltd.

"This JV company will primarily focus on the design, development, marketing, supply and support of civilian and select defence radars for India and the global markets," Thales India said in a release here.

BEL holds a 74 percent stake and Thales holds 26 percent of equity in the JV.

"We are confident that our JV company will benefit from the significant technology transfers and support from Thales, and from the extensive industrial and design skills of BEL," Bharat Electronic chairman S.K. Sharma said in the statement.

The initial product portfolio of BEL-Thales Systems will comprise innovative solutions for air surveillance, including Air Traffic Management radars, and select ground-based military radars.

"We will constantly support BEL-Thales Systems to become a centre of excellence, offering solutions specifically aimed at meeting the needs of both Indian and export customers - in line with the government's 'Make in India' approach," Thales managing director in India Eric Lenseigne said.