Air India will purchase 220 planes from Boeing for $34 billion, with an option to buy 70 more aircraft that could take the total transaction value to $45.9 billion, a deal that US President Joe Biden described as a "historic agreement". While announcing the Boeing-Air India deal on Tuesday, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US. As per an announcement from the White House, Boeing and Air India have reached an agreement under which the airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm order valued at $34 billion at list price.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
The defence sector is seeing renewed interest by Indian corporates, says Jyoti Mukul
The defence ministry said 98 per cent of the total procurement worth Rs 2.23 lakh crore will be sourced from the domestic industries.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
The Mahindra Group struck up a series of high- profile deals with international aerospace players at the Air Show in Paris.
The presence of the private sector at a prestigious military training institution is an important acknowledgement of its growing capabilities in designing and manufacturing cutting edge aerospace and defence equipment, reports Ajai Shukla.
The pilot ejected safely and a court of inquiry has been ordered to ascertain the cause of the accident, the IAF said in a brief statement.
Pirojsha Godrej, 43, patriarch Adi Godrej's son, is set to take over as chairman of the Godrej Industries Group from 2026 whol Nyrika Holkar, Smita Godrej Crishna's 42-year-old daughter, has emerged as the face of the Godrej Enterprises Group.
It is the first project of its kind in which a military aircraft will be manufactured in India by a private company.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
The team, popularly known as the ambassadors of the Indian Air Force, has the distinction of being among a handful of 9 aircraft formation aerobatic teams in the world.
The triennial exercise will take place for two hours and fifteen minutes during the day, dusk and night, he said.
RM took stock of progress in production of the fighter jets whose delivery to India will begin in September next year.
The CBI had registered a preliminary enquiry in 2016 which was later converted into a regular case, they added.
With an aim of boosting manufacturing and exports amid sharp fall in the rupee, the government has decided to take a slew of steps, including enhancing steel production capacity to 300 million tonnes and raising textile exports by 30 per cent this year.
Sixteen aircraft will be delivered in a flyaway condition by the Airbus Defence and Space of Spain within 48 months of signing the contract while the remaining 40 planes will be manufactured in India, according to the defence ministry.
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.
The four-day event, which will conclude on March 11, saw many foreign aircraft companies display their flying machines. Rediff.com's Venkata Sathish gives a preview.
Global engineering and product development digital services firm Tata Technologies on Monday said it has been selected by European aerospace major Airbus as a strategic supplier. The company will become an engineering, manufacturing engineering and services strategic supplier (EMES3), Tata Technologies said in a statement. "This is an outcome of an extensive seven month long multi-phased procurement assessment process that covered all Airbus divisions, subsidiaries, and affiliates across engineering, manufacturing engineering, and customer services engineering functions," it added.
A five-year contract to provide comprehensive maintenance support for India's fleet of 12 C-130J Super Hercules tactical airlifter aircraft.
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.
Navy said the landing demonstrated India's capability to design, develop, construct and operate indigenous aircraft carrier with indigenous fighter aircraft.
Along with HAL, Boeing intends to involve the Mahindra Group in building Super Hornets in India.
More than 100 BrahMos missiles are planned to be built in the next three years.
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 government is expecting to connect small towns with main metros through its Regional Connectivity Scheme
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.
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.
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.
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.
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
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.
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).
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.
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.
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
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.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
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