Girish Chandra Agnihotri
Chairman & Managing Director, IOL
India Optel Limited (IOL), a relatively new entrant in the defence sector, was established in 2021 following the restructuring of the Ordnance Factory Board. Specializing in electro-optical sensors, weapon sights, and communication equipment, India Optel plays a vital role in modernizing India’s defence systems. “IOL is committed to staying ahead in the global market by adapting to rapidly evolving technologies. IOL is strengthening in several key areas like modernization of infrastructure, focus on research & development, and partnership with key players in the domain,” said Girish Chandra Agnihotri, Chairman & Managing Director (CMD), IOL. In an interview with Aeromag, he discusses the company’s efforts toward indigenization, its participation in ADAS 2024, and its latest operations and plans.
How does India Optel Limited (IOL) position itself within India’s burgeoning defence manufacturing and export ecosystem today? Could you reflect on your growth over the past decade, especially on your current export business?
It’s right to say that the Indian defence market is showing rapid growth, and entering this competitive space can be challenging. However, having a team of highly experienced professionals in high-tech optics and Optoelectronics, coupled with state-of-the-art manufacturing capabilities, positions you strongly. Leveraging your expertise and advanced technology can help differentiate your offerings and capitalize on the market opportunities.
Indeed, the Indian government is making significant efforts to create a world-class business ecosystem. Through various initiatives and policies, it is fostering growth and innovation across industries. The collaborative efforts between the government and industries are crucial in driving progress and ensuring that businesses can thrive in this dynamic environment.
IOL turnover growth is promising in the last years, and we have successfully met the requirements of the Indian armed forces, paramilitary and others. In FY 2023-24 the turnover has increased by 20% over FY 2022-23 to USD 170 mn. Recently IOL has successfully executed its first-ever export order for Missile Sights for ATGM launchers and we are confident that many such orders are expected in the coming time.
In what ways does IOL contribute to India’s Aatmanirbharta (self-reliance) initiative? Could you discuss some of the latest initiatives in this area?
In pursuance of MoD’s policy to promote Atmanirbhar Bharat, IOL has undertaken the indigenization of several critical imported LRUs. In its drive for indigenization, IOL is targeting the items listed in Positive Indigenisation list.
Can you talk about the special features of your major products, such as the Thermal Imaging Sight “TI-ESSA” for Tank T-90S, the Commander’s Vision and Sighting System PNK-4S for Tank T- 90S, and Anti-Aircraft Sight PZU-7 for Tank T-90S, etc.?
IOL is into manufacturing of vehicle optronics which includes day and night vision sight. In night vision, IOL has graduated to manufacturing Thermal imaging sights that includes TI-ESSA sight, Commander Thermal Imager for tank T72 & tank T90.
In a rapidly evolving technological landscape, how does IOL stay agile and responsive to market changes? What strategies do you use to ensure the organization adapts effectively to new advancements?
IOL is committed to staying ahead in the global market by adapting to rapidly evolving technologies. IOL is strengthening in several key areas like modernization of infrastructure, focus on research & development, and partnership with key players in the domain.
Can you elaborate on IOL’s current collaborations with the private sector? What achievements have you made under the Make in India initiative, and what are your future plans?
Modern defence systems like EO/IR sights and related electronics are complex. No single company or country typically has all the necessary expertise, resources, and technologies to develop these systems alone. Collaboration among multiple entities (e.g., private sector companies, governments, and international partners) brings together specialized knowledge in areas like electronics, software, materials science, and engineering. IOL is working with almost all leading OEMs in defence electronics in India.
What new products or technologies will IOL showcase at ADAS 2024? What are your priorities and expectations for this event?
In ADAS-24, IOL is focusing on showcasing its in-house designed and manufactured equipment used for Surveillance, Reconnaissance and Scouting. Additionally, we will highlight our Optical & Reflex sights for Assault rifles, Anti material rifles and small arms.
Our priority for this event is to represent both the Indian defence industry and our company on a global stage. Moreover, we are seeking to secure valuable business opportunities and explore potential joint ventures or ToT’s.
What are IOL’s plans for future expansion? How do you plan to diversify your market, innovate in technology, and form strategic collaborations to enhance your industry presence?
We are currently exploring potential markets to diversify our product portfolio in the high-tech optical and optoelectronic fields. We are also monitoring future demand from armed forces and paramilitary organizations. Simultaneously, we are engaging with various OEMs and international counterparts to develop advanced technologies.
Additionally, we are participating in numerous domestic and international exhibitions to strengthen our market presence.
