Mapping syllables in English to syllables in Indic

Hello,
I have a large file with the following structure

Englishpseudo syllable[SPACE]Englishpseudo syllable=Indicsyllable[SPACE]Indicsyllable

An example will make this clear:

la l= 
gi ta= 
ka la va ti=a  a 
ma h to=a  
ra je sh=  
a sha= 
ra me sh=a  
san ja y= a 
ku ma ri=  
su shi la=  
u sha= 
su re sh=  
ka m la=a  
mu nni= 

What I need is that each English syllable should map to its Indic counterpart.

Case of san ja y= a 
Expected output
san=
ja=a
y=

At present I am doing this through a Macro in Ultraedit, but since the database is large[around 80,000 words, the macro takes a lot of time
Can an AWK or PERL script speed up the process.
I work in a Windows environment.
Many thanks

Try

awk -F= '
        {n = split ($1, T1, " ")
         m = split ($2, T2, " ")
         for (i=1; i<=n; i++) print T1, FS, T2
        }
' file
la = 
l = 
gi = 
ta = 
.
.
.
san = 
ja = a
y = 
.
.
.

Note that if you remove the commas in the print statement RudiC suggested:

print T1 FS T2

you'll get rid of the unwanted <space>s around the equals sign in the output:

la=
l=
gi=
ta=
.
.
.
san=
ja=a
y=
.
.
.

Many thanks. Am replying from my phone. Could I please check out in say 5 hours time, when I'll be back.

---------- Post updated at 09:03 AM ---------- Previous update was at 03:04 AM ----------

Sorry for the delay in posting. The tool works just fine. Many thanks