India’s Ministry of External Affairs (MEA) has imposed a two-year prohibition on BLS International Services Ltd. regarding participation in future tenders issued by Indian Missions and Posts globally. The directive, announced on a recent Friday, restricts BLS from bidding on any new projects pertaining to visa, passport, and biometric services in Indian embassies, consulates, and diplomatic offices.
BLS International’s Response to the MEA Ban
BLS International stated that the decision is linked to ongoing court cases and applicant complaints, although specific details were not disclosed. As a result of the news, the company’s stock experienced a significant drop, falling by as much as 11% on the following Monday. At 1:20 PM, shares settled at ₹299, reflecting investor concern regarding the impact on future business opportunities.
Ongoing Services Remain Unaffected
Despite the ban on future tenders, BLS assured that active contracts with Indian Missions will continue to function. This guarantees that vital services such as visa processing, passport facilitation, and biometric data collection for the Indian community abroad remain uninterrupted.
- Current contracts with Indian Missions account for approximately 12% of BLS’s consolidated revenue for the first quarter of FY26.
- The MEA order specifically targets future projects, ensuring that existing agreements are unaffected.
Financial Performance and Business Operations
In the first quarter of FY26, BLS International delivered a notable 44% increase in consolidated revenue year-on-year. Recently, the company secured a significant ₹2,055 crore contract from Unique Identification Authority of India (UIDAI) to establish and operate Aadhaar Seva Kendras, enhancing its domestic operational capacity and revenue outlook.
BLS operates in over 60 countries, providing essential services to Indian embassies and consulates worldwide. The company aims to lower reliance on Indian government contracts while bolstering its international revenue through strategic expansions.
Impact on Non-Resident Indians (NRIs)
Indian citizens living abroad can expect BLS services to remain operational despite the MEA’s decision. Non-Resident Indians can continue to access services such as:
- Passport renewals
- Visa processing
- Document attestation
Existing partnerships with embassies will not be disrupted, but any new tenders that arise during the ban could be awarded to alternative providers. Analysts suggest that this restriction poses reputational risks for BLS International, potentially diminishing its competitive edge in bidding for both government and international contracts.
Global Expansion and Future Strategy
BLS has been proactively pursuing international growth, with contracts across various countries including the United States, UAE, Spain, Slovakia, Hungary, and Poland. The acquisition of iDATA and Citizenship Invest in FY25 further solidifies its position in the citizenship and residency services market.
As BLS navigates the ramifications of the MEA’s two-year ban, maintaining high service quality, effectively managing regulatory matters, and enhancing its global portfolio will be crucial for sustaining its operations and reputation moving forward.
