The government on Thursday tweaked curbs on imports of laptops and computers as it allowed importers to bring in shipments of IT hardware from overseas on a mere 'authorisation' upon detailing quantity and value. The new 'import management system' is aimed at monitoring shipments of laptops, tablets and computers into the country without hurting market supply or creating a cumbersome licensing regime. The announcement is likely to provide relief to companies in the IT hardware segment in India as they had flagged concerns over the imposition of a strict licensing regime for importers.
Anil Ambani will take over as the chairman of Pipavav Defence
In less than two months since the announcement in March, the state has mobilised an armada of small and medium enterprises keen on making components for large equipment manufacturers.
India is one of the largest military equipment importers in the world, at over $8 billion a year.
HAL helicopters will be equipped with an 'Obstacle Avoidance System' that warns pilots of any obstacles in their flight path.
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.
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.
Now, in the case of subsidised R&D, private companies hope that MoD audit requirements will make it mandatory to test the products that they develop.
The two PMs may also explore ways to further deepen ties between the navies of the two countries to check China's heightened activities in the Indian Ocean.
'My understanding is that by the time President Xi Jinping came for the Chennai summit [2019], he had already instructed his army to undertake the action in Galwan in the summer of 2020.'
Defence Minister Rajnath Singh on Thursday released the third list of over 101 military systems and weapons that will come under an import ban over the next five years and be developed indigenously, in a fresh impetus to the Indian armament industry.
Bengaluru-headquartered HAL plans to produce more than 1,000 helicopters in the range of 3-15 tonne with a total business of more than Rs 4 lakh crore over a period of 20 years at this facility in Gubbi taluk, officials said.
Capital goods companies in their Q2FY24 results are expected to report another steady quarter of earnings growth as order inflows and execution remain healthy, according to analysts. An upward revision in order inflow targets and a margin improvement due to lower raw material costs are also anticipated. "We expect the execution of all capital goods companies and most EPC (engineering, procurement, and construction) companies to remain healthy Y-o-Y (year-on-year), led by strong order book accretion in the past 5-6 quarters," wrote analysts at Kotak Securities in a note, estimating revenue growth of 32 per cent for India's largest company in the capital goods space -- Larsen & Toubro.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
Larsen & Toubro (L&T) will aim to invest $3-4 billion in green hydrogen projects, along with its joint venture (JV) partners, said a senior executive from the company. These investments are planned over three to five years, depending on cost economics. The engineering conglomerate is also in talks to acquire the Nuclear Power Corporation of India's (NPCIL's) share in one of its forging JV companies for a consideration of Rs. 100-150 crore. "We are considering investments worth $3-$4 billion in the green hydrogen space, in collaboration with partners," said S N Subrahmanyan, chief executive officer and managing director of the company.
Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese will hold extensive talks on Friday with a focus on boosting overall bilateral ties in areas of trade and investment, defence and critical minerals.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Powerful senators write to US Defense Secretary Hagel to support a robust defence relationship with India to achieve shared goals and form an unwavering bond between the world's two largest democracies. Aziz Haniffa in Washington, DC
There have been growing global concerns over China's sweeping claims of sovereignty over all of the South China Sea, a huge source of hydrocarbons.
BAE Systems, the world's third-largest defence company in terms of revenue, wants to set up shop in India, instead of opting for the conventional route of selling military equipment from the US or UK or produce defence systems along with a local partner for the armed forces. It seeks to develop technology to meet Indian needs and create an export base for India as its long-term goal. Also, this company will be run and managed by Indians.
Rostec, a Russian state corporation set up to promote development, production and export of hi-tech industrial products for civil and defence sectors, has strongly backed Prime Minister Narendra Modi's 'Make in India' pitch.
The defence ministry billed the 615-acre factory as India's largest helicopter-manufacturing facility and it has been planned as a one-stop solution for the country's chopper requirements.
He is currently on a two-day swing to the crucial State of Iowa. On January 15, Iowa would kick off the 2024 Republican presidential primary season.
Kwatra briefed reporters on the outcomes of the second day of Modi's visit that began in Washington, DC with a grand ceremonial welcome on the South Lawn of the White House.
Here are list of some of the big ticket announcements.
Clearly, he is in the right place, at the right time.
Trump congratulated Modi on his election victory and said that the two countries would work together in many areas including military.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
At least 40% of a product must be manufactured in India for it to qualify for the Indian Designed, Developed and Manufactured category.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
Senior Congress leader Anand Sharma on Wednesday denounced the Modi government's decision to allow 100 per cent foreign direct investment in defence sector by easing norms, saying the prime minister was working under pressure from the United States and his party would oppose it in Parliament.
Without naming China or any other country, Singh said the "top-down approach" towards solving problems has never been sustainable, adding often it leads to "debt trap, reaction from the local population and conflict."
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
India is one of the largest defence importers.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
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.
