Existing optimism about the capital goods sector has been enhanced by the Assembly election results, which were favourable for the BJP. The prospects of political continuity led to renewed interest in the sector. There are demand-supply gaps, especially in power, and visibility of improved pricing and strong order flows, including from private enterprises.
Here are list of some of the big ticket announcements.
As India and the United States are set to begin negotiations on two transformational deals -- Security of Supply Arrangement (SOSA) and Reciprocal Defence Procurement Agreement (RDP) -- the Pentagon has said that the defence industries of the two nations will come together once the negotiations conclude.
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.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
'Having India as a credible deterrent vis-a-vis Chinese ambitions in the Indian Ocean and South Asian region is a desirable short-term outcome.'
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
Lieutenant General Wei Fenghe's, China's new defence minister's, first guest of honour could be his Indian counterpart Nirmala Sitharaman.
In a major technology push, Indian Army has envisioned construction of "permanent defences" along the Line of Actual Control in eastern Ladakh using cutting-edge 3D printing technology, a move that will save time and improve its defence preparedness, sources said on Tuesday.
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
Over the years, there has been a significant change in every field -- from society, politics to economy. Security challenges have also witnessed that change, Singh said.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
Describing the state visit of Prime Minister Narendra Modi to America as a "watershed moment" in bilateral ties, US Ambassador to India Eric Garcetti has said that this week will be one of those moments that can change the course of history as the two democracies get together for peace and prosperity.
'If the Chinese intent is to be gauged based on its aggression in the South China Sea, greater forays in the Indian Ocean, a hawk's attitude towards Taiwan, flying its fighters repeatedly over the Senkaku islands in the East China Sea and creating strategic assets globally, there would be a requirement for strategic partnerships for India,' says Brigadier S K Chatterji (retd).
If a citizen chooses not to use Aadhaar as the default unique identity, then other unique identity proofs masked and linked to Aadhaar would be used.
United States President Joe Biden is not travelling to India next month to grace the Republic Day celebrations as the Chief Guest, and New Delhi is looking at holding the next Quad summit later next year instead of its earlier plan to host it in January, people familiar with the matter said on Tuesday.
The world needs to wake up to this new dimension of war at sea and be prepared to face the 'unknown enemy' who have the advantage of attacking at their choice of location and time, cautions Commodore Venugopal Menon (retd).
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.
In a projection of India's growing maritime prowess, Defence Minister Rajnath Singh on Monday addressed the top naval commanders onboard the country's first indigenous aircraft carrier INS Vikrant in the Arabian Sea and witnessed a mega wargame, amid China's increasing military posturing in the Indian Ocean region.
Prime Minister Modi will embark on his first state visit to the United States at the invitation of President Joe Biden and First Lady Jill Biden in June.
'No country can ever be free to make its choices and remain independent if it continues to wear borrowed plumes,' warn Lieutenant General Ashok Joshi (retd) and Colonel Anil A Athale (retd).
'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.
The five-day event will include aerial displays by aircraft and helicopters along with a large exhibition and trade fair of aerospace and defence companies.
The defence ministry also cleared the project, to acquire 5,000 Milan 2T anti-tank guided missiles for the Army.
'Historically, the markets tend to perform well during election years as governments aim to increase spending and call attention to growth.'
The Bharatiya Janata Party on Saturday released its manifesto for the November 17 Madhya Pradesh elections promising MSP for wheat at Rs 2,700 per quintal and paddy at Rs 3,100 and houses for beneficiaries of the state's flagship scheme 'Ladli Bahna'.
A senior government functionary claimed on Thursday that the average estimated cost of MQ-9B long endurance drones for India would be 27 per cent lower than the price incurred by other countries which have bought it from the US, asserting that it will most likely go further down during negotiations unless India seeks additional features.
'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.'
The commanders present in Delhi gathered at the South Block in Raisina Hills area, while many others joined the deliberations virtually.
'The US will not want to tangle with China landwards.' 'Nor will the US confront the Chinese navy seawards on India's account.'
The American platforms at the exercise 'Cope India' that started off Kalaikunda will also include a fleet of F-15 E fighter jets, C-130 and C-17 transport aircraft.
His absence will be felt because of his decision taking ability and rapport with armed forces.
The relations between the two countries have never been as good as they are now, Trump said, adding that the countries have made "wonderful deal".
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
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.
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.
Rajnath also pitched for incentives in defence manufacturing, Singh said foreign companies are not only interested in investing in India but also ready to transfer technologies.
His five-year rule saw the Babri Masjid demolition, the rise of the saffron forces and also the country being placed firmly on a new economic path, away from the Nehru years of public sector socialism.
The DG said that the previous government was wary of constructing roads near the Line of Actual Control.
Modi will arrive in France on Thursday evening and straightaway head for talks with Macron, who will also host a working dinner for the visiting leader.
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