Pressing ahead with its policy to promote domestic military industry, the government has cleared procurement proposals worth over Rs 21,000 crore and also okayed a project for the production of transport aircraft which is open only to Indian private sector companies.
Pressing ahead with its policy to promote domestic military industry, the government has cleared procurement proposals worth over Rs 21,000 crore and also okayed a project for the production of transport aircraft which is open only to Indian private sector companies.
Defence minister claims MoD 'alive and kicking' after 'getting the weeds out'.
Indian troops are defending every inch of the border with China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (retd) B D Mishra said on Thursday.
The experts also said China's military 'misadventure' may have been driven in part by President Xi Jinping's attempt to show 'gains somewhere" after the growing global criticism against his country over the origin of COVID-19.
"Over the next six months, I hope to sign another Rs 50,000-60,000 crore worth of contracts, taking the total to Rs 3 trillion," the minister told reporters on the sidelines of an industry exhibition on technology and material sciences in Navi Mumbai, Maharashtra.
India already allows 100 per cent ownership of greenfield pharma businesses.
Stocks of public sector undertakings (PSUs) have been on fire in the past year as investors cheered an improvement in key operating metrics and embraced counters of these state-owned enterprises, analysts suggest. The S&P BSE PSU Index has gained over 90 per cent in the past year, rising much higher than the S&P BSE Sensex, which has rose nearly 19 per cent during this period, according to ACE Equity data. The BSE PSU Index, reports show, has delivered a compound annual growth rate (CAGR) of 28 per cent (including dividends reinvestments) over five years and risen by almost 60 per cent in the past year.
Trump congratulated Modi on his election victory and said that the two countries would work together in many areas including military.
The government on Friday put on hold the preferential market access (PMA) policy that provided for sourcing of sensitive telecom and electronic equipments and technology from domestic manufacturers over security concerns.
The plan was to equip the Su-30 aircraft with more powerful radars and the latest electronic warfare capabilities to make it more powerful as per the latest standards, the sources said.
The dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
He reaffirmed the government's commitment to resolving any outstanding issue in the way of growth and development of indigenous defence industries.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
The approved proposals included "procurement of night sight (image intensifier), light vehicles GS 4X4, air defence fire control radar (light) and GSAT-7B satellite," it mentioned.
Prime Minister Narendra Modi on Thursday said even though India's options have increased, Russia will remain the country's "most important" defence partner as Moscow offered to fully manufacture in this country one of its most advanced helicopters.
From the seas to the stars, this partnership will now be deepened by the defining role of technology, the statement said.
The interim Budget proposals that will be presented on February 1 in the backdrop of the general elections scheduled in April/May 2024 are likely to have a hint of populism, believe analysts, but are unlikely to derail the government from its path of fiscal prudence.
Also the companies should be self-sufficient in product designing and have maintenance and life cycle support facilities.
Close on the heels of Boeing's defence of India to the US International Trade Commission's investigation into India's trade, investment and industrial policies, IBM has also sprung to New Delhi's defence in an otherwise sea of criticism of India's violations of intellectual property rights, local content requirements, among other issues of concern to US business and industry.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
The Centre for Strategic and International Studies recommended the United States to undertake a comprehensive policy review to determine how to assist India with developing its defense industrial base through co-production and co-development projects.
After bumbling for years since 2014, the Modi government seems to believe that massive government expenditure will lead us to prosperity supported by 'seat-of-the-pants' decision-making, observes Debashis Basu.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
Anand Sharma, who took charge of the nodal ministry for FDI on May 29, said there is no need for a relook at the policy amended in February by the Department of Industrial Policy and Promotion. While the policy does not allow overseas inflow into this sector, the changes in February were perceived to be opening the sector to FDI up to 49 per cent in an Indian firm that has a downstream subsidiary firm in retailing.
No one really knows what proportion of the nation's wealth and income are available for defence
Carter arrived at INS Dega in Vishakhapatnam and was briefed by top officials about the activities of the Eastern Naval Command.
'The armed forces have been given clear indication that they have to give priority to Make in India and indigenisation and dependence on foreign source should be reduced.' 'Almost Rs 90,000 crores contracts have been signed during my tenure. Another almost Rs 70,000 crores are in the pipeline.'
With general elections on the horizon, the government's privatisation bandwagon has almost but stalled as a government wary of being accused of selling family silver opts for minority stake sales on stock exchanges over outright privatisation. The result -- the divestment target for current fiscal year is again likely to be missed. Big ticket privatisation plans such as that of Bharat Petroleum Corporation Ltd (BPCL), Shipping Corporation of India (SCI) and CONCOR are already on the backburner and analysts feel meaningful privatisation can happen only after April/May general elections.
China remains the elephant in the room and has to be tamed, which the United States alone is unable to do and therefore calls allies to come on board.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
United States President Barack Obama has signed into law the $618 billion defence budget for 2017, which enhances security cooperation with India and conditions nearly half of the funding to Pakistan on a certification that it is taking demonstrable steps against the Haqqani Network.
The amendment urges the US to enhance India's military capabilities in the context of combined military planning, and promote co-production/co-development opportunities.
PM also invited US-based GE and other global firms to invest in the defence sector.
'India-US defence pacts are seen by many analysts as a subtle move to jointly contain China's growing militarism, especially in the strategic Indian Ocean Region.'
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
India is one of the largest defence importers.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Pompeo will travel to India, Sri Lanka, Japan and South Korea from June 24 to 30. His four-nation is aimed at deepening US partnerships in the strategic Indo-Pacific region.
