PTC Industries Limited has signed a Memorandum of Understanding (MOU) with Bharat Dynamics Limited (BDL). PTC Industries Limited and BDL inked the MoU to explore mutual co-operation and business development under the following scope: Design, Develop & Manufacture Aero Engines for Missiles, UAVs, Loitering Munitions or any such other fields where small Turbo Engines would be required other than Fighter Aircraft. Formation of an SPV as partners with other Government /Semi-Government or Private entities as agreed to for the creation of Defence Testing infrastructure in the field of Mechanical & Materials under the Ministry of Defence DTIS Scheme implemented by UPEIDA.