'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
India on Thursday approved proposals for purchasing 26 Naval variant of Rafale jets from France and procuring three French-designed Scorpene class submarines, a day ahead of Prime Minister Narendra Modi's wide-ranging talks with French President Emmanuel Macron in Paris.
Navy said the landing demonstrated India's capability to design, develop, construct and operate indigenous aircraft carrier with indigenous fighter aircraft.
The government is expecting to connect small towns with main metros through its Regional Connectivity Scheme
More than 100 BrahMos missiles are planned to be built in the next three years.
Stocks of defence-related companies have been firing on all cylinders on the bourses in calendar year 2023 (CY23). Shares of Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Data Patterns, MTAR Tech, Cochin Shipyard and GRSE have rallied in the range of 21-96 per cent so far this year. By comparison, the BSE Sensex is up 8 per cent. The gains have been sustained on the back of robust export opportunities, a healthy project pipeline and the government's continued push for local manufacturing and indigenisation of defence equipment.
The US Air Force's (USAF) two newest fifth-generation supersonic multirole F-35A aircraft made a historic debut at Aero-India here on Monday, drawing strong interest and adding lustre to the five-day marquee event.
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
Consolidated earnings of Bharat Forge in Q3FY23 missed estimates, largely due to higher-than-expected interest burden, although operational numbers (including standalone numbers) were close to consensus. Still, the management guidance was positive and appeared to be based on logic.
The defence ministry took the decision to hold the biennial event as scheduled following inputs from major stakeholders including the domestic defence industry and global aerospace majors, official sources said.
A spate of recent orders under the Indigenously Designed Developed and Manufactured (IDDM) category have led to investor focus on defence stocks. Actually, the defence index has been an outperformer for a long while with public sector undertakings (PSUs) like Hindustan Aeronautics (HAL), Bharat Electronics (BEL), Bharat Dynamics (BDL), Garden Reach Shipbuilders Engineers (GRSE), Cochin Shipyard and Goa Shipyard being beneficiaries of the policy.
The two frontline combat aircraft of the Indian Air Force (IAF) crashed during a training mission in Morena on Saturday, resulting in the death of a wing commander while two other pilots ejected safely.
Starting as a maker of hydraulic pumps, the Bengaluru-based company graduated to components for automakers like BMW and Audi, and then Airbus and Boeing
For the first time in 13 years, since Jet Airways' A330 planes exited the airline's fleet in around 2010, an Indian wide-body aircraft will have a Rolls-Royce-powered engine, with Air India ordering 40 Airbus A350 planes. On Tuesday, Air India announced its mega aircraft order for 470 aircraft, including A350 planes. The A350 aircraft, which will come in two variants, are powered solely by Rolls-Royce Trent XWB engines and the local team has begun work to assist Air India with its aircraft-induction plans.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
The Yeti Airlines aircraft took off from Kathmandu's Tribhuvan International Airport at 10.33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal.
In their pre-budget expectations, they also asked the government to assess the option of developing unused airstrips located in various parts of the country to boost air connectivity.
Business conglomerate Adani Group's chairman Gautam Adani is now the world's second-richest person after overtaking Louis Vuitton's Bernard Arnault, according to Forbes' Real-Time Billionaires List. At the time of writing this report, Gautam Adani's net worth was $153.9 billion, compared to Arnault's net worth of $153.7 billion. Adani is now just behind business magnate Elon Musk, according to Forbes' data.
Two elderly Chinese aerospace experts are hospitalised after a violent attack by a 'Princeling', states Jayadeva Ranade, the distinguished China expert and retired RA&W officer, highlighting the power the 'Princelings' ironically hold in the Communist People's Republic.
"We have long witnessed unfortunate attempts to employ force to change the status quo at our unresolved borders", Singh said at the inaugural ceremony of Aero India-2021, the country's premier Defence and aerospace show, at Yelahanka Air Force Station in Bengaluru.
Boeing is likely to vie for the deal to supply 110 fighter jets to the IAF in one of the biggest such procurement in recent years globally which could be worth over USD 15 billion.
Its association with India is over 70 years old and spans both civil and military aviation. The Douglas DC-3 transport aircraft used by the air force beginning the 1940s and the iconic Boeing 747 aircraft flown by Air India, both had Pratt & Whitney (P&W) engines. The Indian Air Force's present-day, heavy-lift C-17 Globemaster III and the yet-to-be-inducted C-295 planes, too, have P&W power plants.
The slot constraint in Indian airports is also going to play a role in pushing airlines to have wide bodies.
Defence Minister Rajnath Singh on Monday flew a sortie in a Light Combat Helicopter (LCH) after a fleet of the highly agile choppers was inducted into the Indian Air Force.
The nine-member team is enquiring with the airlines' staff and concerned authorities in Pokhara to understand details of the ATR-72 aircraft crash.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
The Indian Navy has inducted two more Poseidon 8I maritime reconnaissance and anti-submarine warfare aircraft, in a boost to its surveillance capabilities in the Indian Ocean in the face of China's increasing forays into the region.
The Indian troops guarding the nearly 3,500-km Line of Actual Control (LAC) maintained an assertive approach in sync with the broader national security doctrine and procured a variety of military platforms and weapons to enhance their combat capabilities.
With a combination of both physical and virtual exhibition, the 13th edition of the biennial international event at Air Force Station Yelahanka will be the world's first hybrid aerospace show.
The 1,600-member crew and a slew of civilian workers were working like busy bees on Friday preparing the majestic warship IAC Vikrant for its commissioning on September 2.
An industrial house bred in old-school manufacturing values, Godrej & Boyce has displayed unusual agility to become a trusted builder of advanced weaponry, discovers Ajai Shukla.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
Major IT firms such as Tata Consultancy Services, HCL Technologies, Infosys, Cyient, and L&T Technology Services have direct exposure to Boeing or its suppliers' ecosystem, which comprises engine manufacturers, body suppliers, and avionics providers. These firms provide services like application development, testing, engineering, avionics, and business process management for the Boeing 737 Max programme.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
The spacetech startup is expected to launch the first rocket which can hurl satellites of 250-700 kg into a lower Earth orbit by end-2021.
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
'The future is about autonomy and tanking.'
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
The Defence Ministry on Friday inked a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force.
Gautam Adani on Tuesday said his ports-to-energy conglomerate never slowed or stopped investing in the country as the group's success is based on its alignment with the India growth story. Speaking at the annual shareholder meeting of the group companies, he said the previously announced $70 billion investment in new energy business will help turn India from being a net importer of oil and gas to an exporter of clean energy. "Never have we walked away from investing in India, never have we slowed our investments," he said. "We believe our scale, our diversified business, and our track record of performance positions us very strongly to continue to perform well in a variety of market conditions."
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