This looks a bit more complex than it seems on the surface. If some sort of breach / fault in the electronic system caused this then it might lead to a deeper evaluation of all sorts of upgrades before it gets rolled out on a mass scale.
Secondly, in this interview KEC also says they have got orders for the Kavach. So can this IP be shared with more companies to facilitate large scale and quicker implementation? In which case the larger Indian guys like KEC can come in and compete. Seems like a threat to the 3 player hypothesis – unless my understanding is wrong and KEC in turn buys stuff from HBL.
Am not quite sure what the case is here. I don’t think KEC has electronics capability and they are more of a project execution player, so it could be the latter.
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