'This agreement will help the Indian workforce to move to non-traditional sectors of employment like teaching, nursing, and manufacturing.'
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.
In a first, India has seized a bank guarantee worth Rs 224 crore furnished by an Israeli defence vendor for breach of integrity pact after the company was blacklisted for alleged involvement in graft cases related to ordnance factories.
'While on the one hand, terrorism continues to be a serious threat to global peace and security, on the other hand, areas such as cyber, maritime and space, are emerging as new theatres of conflict'
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.
Moving ahead towards cancelling the controversial chopper deal, the Defence Ministry on Wednesday said it has issued a final show cause notice to AgustaWestland for "violating" the terms of the Rs 3,600 crore contract for supplying 12 VVIP choppers to the Air Force.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
Ahead of his much-anticipated visit to conflict-torn Ukraine, Prime Minister Narendra Modi on Thursday said India firmly believes that no problem can be solved on the battlefield and it is ready to extend all possible cooperation for the restoration of peace and stability in the region.
Stating that there is no nomenclature for the three groups who have come together, Akato said they will approach the Centre for political talks.
As the Bharatiya Janata Party grapples with a potential shortfall in its Lok Sabha tally, its ally Telugu Desam Party (TDP) has unequivocally pledged allegiance to the National Democratic Alliance (NDA), dismissing any speculation of a pivot towards the Indian National Developmental Inclusive Alliance (INDIA).
Saturday's Quad meeting in Delaware is taking place against the backdrop of China's assertive behaviour in the South China Sea, its sabre-rattling in the Taiwan Strait and increasing footprints in the Pacific and Indian Ocean, asserts Rup Narayan Das.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
Did one arm of the government not take any action despite knowing Finmeccanica might have violated the integrity pact it had signed with the government of India?
Moving ahead towards scrapping the Rs 3,600 crore controversial chopper deal, Defence Minister AK Antony on Wednesday said AgustaWestland has "violated the contract" for supplying 12 VVIP choppers for the air force.
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
The compulsion behind India and Japan to deepen security cooperation is in response to China's growing political and economic clout and its assertive behaviour in disputed areas. This has been the key driver for bringing both India and Japan closer in the domain of security cooperation, explains Dr Rajaram Panda.
The government on Thursday made it mandatory for all major foreign armament companies winnings contracts worth more than Rs 300 crores (Rs 3 billion) to necessarily invest thirty per cent of the amount in the country as direct offsets.
India has encashed a guarantee of over Rs 250 crore deposited by AgustaWestland in a bank in New Delhi even as it is preparing to file an appeal against an Italian court's stay on its move to encash another guarantee deposited in an Italian bank.
'The government will soon announce new procedures to make it easier and mandatory for all arms agents to register themselves with not only the Defence ministry, but also Reserve Bank.'
Faced with the prospect of the nixing of its Rs 3,600 crore deal for the supply of 12 VVIP choppers, AgustaWestland today denied it had violated any contractual obligations in the pact for the same with IAF.
The Zomi-Kuki organisation also sought Prime Minister Narendra Modi's intervention for a permanent solution to the ongoing ethnic strife
The minister also said that four cases of corruption in defence deals have been registered by the CBI since 2015.
In a press conference later in the day Sangma said that any resolution that is decided upon should be acceptable to the people.
Adani Enterprises, the flagship firm of billionaire Gautam Adani's group, has bought a close to 30 per cent stake in Start Enterprises Pvt Ltd, which owns the online train ticket booking platform Trainman. Adani Enterprises last month announced that it has signed a pact to acquire 100 per cent of SEPL In a stock exchange filing on Saturday, Adani Enterprises said Adani Digital Labs Pvt Ltd, a wholly-owned subsidiary of the company, has bought a 29.81 per cent stake in SEPL for Rs 3.56 crore.
Finnish telecom gear maker Nokia and Tech Mahindra have joined hands to deploy 5G-based solutions for business organisations, according to a joint statement by the two companies. Under the collaboration, Tech Mahindra will leverage Nokia's private wireless DAC (digital automation cloud) solution for customers across industries and facilitate in automating 5G private wireless network management on a cloud computing system and enabling them deploy internet of things like technology.
China on Tuesday angrily denounced the nuclear-powered submarine deal announced by the US, UK and Australia, saying the pact violates the Non-Proliferation Treaty (NPT) and the three countries are travelling "further down the dangerous and wrong path."
'Will make sure that we create value. We will again look for organic and inorganic opportunities.'
The defence ministry on Thursday accorded its approval to procure 30 MQ-9B Predator drones from the US to crank up the surveillance apparatus of the armed forces, especially along the frontier with China, people familiar with the development said.
The armies of India and the US on Tuesday began an over two-week mega military exercise at a military facility in Uttarakhand with the aim of exchanging best practices and tactics in sync with growing defence ties between the two countries.
Although the pact would focus mainly on the Pacific and the South China Sea region, any action designed to deter China with or without New Delhi's active participation is a welcome move, notes Commodore Venugopal Menon (retd).
China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said.
The MEA asserted that Arunachal Pradesh was territorially intergal and inalienable to India.
In reflection of their growing congruence in areas of defence and security, the two sides, following the Modi-Mitsotakis talks, agreed to set up an institutional dialogue at the level of national security advisors, and boost defence industrial cooperation.
"The experience was incredibly enriching, significantly bolstering my confidence in our country's indigenous capabilities, and leaving me with a renewed sense of pride and optimism about our national potential," he said.
Panagariya also stressed that India must continue the liberalisation of its top tariff rates and the country should not revert back to import substitution.
When the IAF veterans' bail petition came up for hearing, in an unprecedented move, senior serving and retired Air Marshals and Air Vice Marshals rallied behind the accused officers and appeared before the court to give sureties for each, something that has never happened ever before.
The two sides inked nearly two dozen pacts in key areas of defence and civil nuclear cooperation after "productive" talks between Modi and Bangladesh Prime Minister Sheikh Hasina in the nation's capital.
"Dialogue is the only solution to the ongoing crisis in Manipur," Shah said.
Taiwanese electronic contract manufacturer Foxconn on Monday said it has decided to pull out of semiconductor joint venture with Indian conglomerate Vedanta, according to a statement. Foxconn said it is "working to remove the Foxconn name from what now is a fully-owned entity of Vedanta". "Foxconn has no connection to the entity and efforts to keep its original name will cause confusion for future stakeholders," Hon Hai Technology group (Foxconn) said.
Bangladesh has sought revision of a 2017 power purchase agreement with Adani Power Ltd as the price for the coal-generated electricity appeared too expensive, officials said in Dhaka on Thursday. "We have communicated with the Indian company seeking revision of the agreement," an official of the state-run Bangladesh Power Development Board (BPDC) told PTI on the condition of anonymity and without elaborating on the matter. Media reports suggested that the "high coal price" to be purchased for the Adani plant at India's Jharkhand emerged as the key factor for the dispute.
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