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 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.
'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'
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 two ships are part of the series of eight anti-submarine warfare shallow water crafts which are under construction in CSL.
10 largecaps stocks which stand to gain from the Budget.
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.
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.
'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).
'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.'
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.
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.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
'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.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
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.
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).
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.
The Akash missile systems have over 96 percent indigenous components and the weapon can hit targets at a range of 25 km.
In a post on X, Modi said, "Happy to have welcomed @POTUS @JoeBiden to 7, Lok Kalyan Marg. Our meeting was very productive."
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.
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.
Docking technology is crucial for sending people and cargo to space stations.
Donald Trump's exaggerated opinion of his dealmaking capacity can get him into trouble, observes R Sriram.
But private Indian defence firms prefer to do business with the West. Indian CEOs say they encounter difficulties in obtaining full and timely payment from Russian partners.
Their success or failure will eventually hinge on how much equipment the services procure, and whether the finance ministry supplements the allocations in the Budget
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.
India's economic growth slowed down to 4.4 per cent in the third quarter of 2022-23 mainly due to poor performance of the manufacturing sector. In October-December 2021, the economy grew by 11.2 per cent and by 6.3 per cent in the July-September 2022 quarter, according to data released by the National Statistical Office (NSO) on Tuesday.
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.
'We see the defence industry as one of the leading sectors, which will significantly contribute to the growth of the Indian economy, but more importantly, bring atmanirbharta to national security.'
'A month after assuming charge, Parrikar promised a policy within six months to "end or at least reduce" terrorist infiltration across the Line of Control.' 'However, infiltration continued apace, leading to high-profile terrorist attacks in Gurdaspur, Pathankot, and Uri.' 'During this phase, he made the controversial suggestion that India should fight terror with terror, hinting at supporting terror groups to strike in Pakistan,' observes Ajai Shukla.
All the items identified for procurement from domestic defence manufacturers are used in shipbuilding. So far, the defence ministry has notified 127 items where purchase preference is given to local suppliers.
The 'request for proposal' for the indigenous construction of the six submarines will be issued soon, they added.
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
Sections of our media and elites take Western reports/judgements at face value and are ready to condemn the targets without understanding the deeper power linkages behind such actions, asserts Colonel Anil A Athale (Retd).
To boost Make in India in defence production, Finance Minister Nirmala Sitharaman on Saturday said foreign direct investment limit in defence manufacturing will be hiked to 74 per cent from 49 per cent while some weapons and platforms will be banned for imports.
The Tata Group is one of the very few Indian MNCs which has carved out a niche in China's highly competitive market, notes Rup Narayan Das.
