Raymond Limited has appointed Bhanu Prakash Srivastava, former Chairman and Managing Director of Bharat Electronics Limited (BEL), as Chief Executive Officer – Defence, reinforcing its commitment to building a technology-led presence in India’s fast-growing defence and aerospace sector. The appointment marks a significant step in Raymond’s strategy to expand its engineering business beyond precision manufacturing into advanced defence technologies, electronics, systems integration and aerospace solutions. With nearly four decades of experience in India’s defence industry, Srivastava will lead the company’s defence vertical, shaping its long-term strategy, driving operational execution and building capabilities aligned with the country’s growing emphasis on indigenous defence manufacturing.
India’s defence sector is undergoing rapid transformation as the government continues to promote self-reliance under the Atmanirbhar Bharat initiative. Increasing investments in domestic manufacturing, technology development and strategic partnerships have created new opportunities for private industry to contribute to the nation’s defence preparedness. Raymond aims to leverage its engineering expertise to establish a strong position in this evolving landscape.
During his tenure at Bharat Electronics Limited, Mr Srivastava played a key role in strengthening the company’s market position and expanding its technology portfolio. Under his leadership, BEL’s market capitalisation grew from approximately ₹51,000 crore to ₹1.5 lakh crore, while the company secured new orders worth over ₹55,000 crore. He also oversaw the launch of more than 100 products and strengthened the organisation’s research and development capabilities.
Mr Srivastava has led several strategic defence programmes spanning radar systems, naval platforms, sonar technologies, missile systems, electronic warfare, tactical communications and indigenous defence solutions. He also spearheaded initiatives to establish artificial intelligence incubation centres, supporting innovation across India’s defence ecosystem.
At Raymond, he will focus on building advanced engineering capabilities and developing integrated solutions across defence electronics, software, precision systems and related high-technology segments. The company also intends to pursue strategic collaborations that strengthen its position in both domestic and international defence markets.
Commenting on the appointment, Gautam Hari Singhania, Chairman and Managing Director, Raymond Limited, said, “India’s defence industry is entering an exciting phase driven by innovation, technological advancement and self-reliance. Bhanu Prakash Srivastava brings exceptional leadership experience, deep technical knowledge and a proven ability to execute large and complex programmes. His expertise will play a vital role in building Raymond’s defence business into a trusted partner for India’s strategic manufacturing ecosystem.”
Speaking on his new role, Bhanu Prakash Srivastava said, “Raymond has built an outstanding reputation for manufacturing excellence and engineering quality over the past century. I look forward to working with the leadership team to create advanced technology-driven solutions, establish strong industry partnerships and build a globally competitive defence business that supports India’s long-term strategic objectives.”
A Mechanical Engineering graduate from the Indian Institute of Technology (BHU), Varanasi, Mr Srivastava has spent 39 years contributing to India’s defence manufacturing capabilities across operations, research and development, marketing, naval systems and strategic programme management.
Founded in 1925, Raymond Limited has evolved from its leadership in textiles into a diversified enterprise with businesses spanning engineering and real estate following the demerger of its lifestyle business in 2024. Its engineering division already holds a strong position in files, hand tools and precision manufacturing. The acquisition of Maini Precision Products Limited has further expanded Raymond’s capabilities across automotive, electric vehicles, aerospace and defence components, providing a strong platform for its next phase of growth in high-value precision engineering.
