'The procurement cycle still consumes too much time; little has changed.'
This will be the first full-year Budget of the BJP-led National Democratic Alliance government since it came to power for a third consecutive term in July last year.
The defence budget was increased to Rs 5.94 lakh crore for 2023-24, up from last year's allocation of Rs 5.25 lakh crore.
Of the total proposed allocation, over Rs 1 lakh crore is meant for BSNL and MTNL-related expenses, including Rs 82,916 crore infusion in BSNL for technology upgradation and restructuring at BSNL.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
10 largecaps stocks which stand to gain from the Budget.
The participation of the three vice chiefs in the Tarang Shakti exercise demonstrated the growing focus on cross-domain cooperation, with land, sea, and air forces working together to face modern challenges, an official said.
'The future is about autonomy and tanking.'
...but are we chasing yesterday's dreams, asks Ajit Balakrishnan.
'Not paying workers enough will end up being self-destructive or harmful for the corporate sector itself.'
'Market corrections are a natural part of investing, so it's essential to remain focused on long-term financial goals.'
The two ships are part of the series of eight anti-submarine warfare shallow water crafts which are under construction in CSL.
United States President Joe Biden and Prime Minister Narendra Modi are expected to make meaningful advancements on the GE jet engine deal and civil nuclear technology during their bilateral talks, National Security Advisor Jake Sullivan was cited in a Reuters report.
The Indian men's hockey team dished out a dominant performance to launch its title defence with a commanding 3-0 win over hosts China in the Asian Champions Trophy in Hulunbuir, China on Sunday.
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.
'While criticising India's high tariffs, Mr Trump stated he would impose reciprocal taxes on Indian products if re-elected.' 'However, since India's tariffs follow WTO rules, Mr Trump's actions would violate these rules,' Ajay Srivastava points out.
In the last four months, the Centre has been reviewing all the "Buy-Global" cases that are in the contracting phase right now, Jaju said.
Exim Bank pointed out that recent performance of the manufacturing sector in India is indicative of an underlying inertia.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
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.
Defence Minister A K Antony has shot down Commerce Ministry's proposal to raise Foreign Direct Investment in defence from 26 per cent to 49 per cent, saying it will be a "retrograde" step and "stymie" the growth of the domestic industry while increasing dependence on foreign manufacturers.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
The corridor is expected to attract around Rs 1,250 billion investment and create 4,00,000 jobs. It will start from Mysore, pass through Bengaluru in Karnataka, to connect with Chennai, Coimbatore, Salem and Tiruchy in Tamil Nadu.
Modi made the comments in his address after inaugurating the 14th edition of Aero India at the Yalahanka Air Force station complex on the outskirts of Bengaluru.
'Russia has got inherent military strength, they have a very good military equipment manufacturing infrastructure and by and large they are self-sufficient in their production capabilities'
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
Two passengers died and 75 others were rescued after a speed boat crashed into a ferry off the Mumbai coast. The ferry, carrying 80 passengers and five crew members, was on its way to Elephanta Islands when the speed boat circled it before crashing into it. The Navy and Coast Guard launched a massive rescue operation, with 11 Navy boats, three Marine Police boats, and a Coast Guard boat deployed. Four helicopters were also involved in the search and rescue operation. Police, Jawaharlal Nehru Port Authority personnel, and local fishermen are assisting in the rescue efforts. Chief Minister Devendra Fadnavis said that seven to eight passengers remain missing.
The defence ministry has lost sight of what it intended to achieve -- which was to nurture private defence firms that would compete on equal terms with the 9 defence PSUs and the 41 Ordnance Factory Board factories.
Hindustan Aeronautics (HAL) is one of the largest beneficiaries of the defence indigenisation programme. The aerospace Public Sector Undertaking (PSU) has just received a new tender for 97 Light Combat Aircraft (LCA) Tejas Mk1A, and it is already servicing an earlier order for 83 LCA aircraft. The new order is worth around Rs 65,000 crore with a 65 per cent indigenisation component, whereas the earlier order (February 21) was worth Rs 45,700 crore with 55 per cent indigenisation.
Docking technology is crucial for sending people and cargo to space stations.
'He consulted widely, both formally and informally and acted quickly on pragmatic suggestions.' 'To his credit, Parrikar took the initiative to reduce excessive litigation against armed forces veterans and widow over small sums of pensionary and disability benefits,' points out says Brigadier Gurmeet Kanwal (retd).
Research and development (R&D) spending by BSE 100 companies has grown steadily, rising from 0.89 per cent of revenue in FY20 to 1.32 per cent in FY24, averaging around 1 per cent over the period in-between, according to data compiled from Bloomberg and company annual reports. Also, these companies more than doubled their R&D spending in absolute terms over these five years: From Rs 25,041 crore to Rs 63,072 crore. While this reflects a prioritisation of innovation, corporate R&D investment remains relatively conservative.
On Tuesday, Pompeo and Esper will hold the 2+2 talks with External Affairs Minister S Jaishankar and Defence Minister Rajnath Singh, covering the entire expanse of defence and security ties as well as key regional and global issues.
Its 'failure not just affects the military's effectiveness but could also be politically vulnerable for the BJP,' observes Ajai Shukla.
Inaugurating the Defence Expo in Thiruvidanthai in Tamil Nadu, Modi said the Defence Procurement Procedure was revised with many specific provisions for stimulating growth of the domestic defence industry.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
French Foreign Minister Laurent Fabius on Tuesday called on Prime Minister Narendra Modi and discussed ways to strengthen cooperation in key areas such as defence, trade and investment with India expressing keenness on setting up industrial bases for it to boost ties.
In line with the government's vision of 'Aatmanirbhar Bharat', the ministry of defence on Thursday signed contracts with Indian shipyards for the acquisition of 11 next generation offshore patrol vessels and six next generation missile vessels at a cost of nearly Rs 19,600 crore, officials said.
The Akash missile systems have over 96 percent indigenous components and the weapon can hit targets at a range of 25 km.
