The hike in the budget is the lowest increment in recent years apparently due to the heavy disruption caused to its economy by the COVID-19, according to the official media.
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.
The new BrahMos missiles will be 'dual-role capable', which means warships can fire them at targets on land as well as at enemy warships.
Defence Minister Manohar Parrikar and outgoing United States Defence Secretary Ashton Carter on Thursday finalised the "major defence partner" status to India which will fast-track cooperation and sharing of high-end American defence technology.
I am happy I didn't knock anyone down, driving recklessly or trying to show off. However, in one instance of road rage (the consequence of arguing with a driver who disrespected my right to cross the road peacefully) I did find a man in a SUV taking his anger out on me by driving his vehicle over my feet, recalls Shyam G Menon.
India's economic growth slowed to a 15-month low of 6.7 per cent in April-June 2024-25, mainly due to poor performance of the agriculture and services sectors, government data showed on Friday. The gross domestic product (GDP) expanded by 8.2 per cent in the April-June quarter of 2022-23. India, however, remained the fastest-growing major economy, as China posted a 4.7 per cent growth in April-June 2024.
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
External Affairs Minister S Jaishankar has met United States Defence Secretary Lloyd Austin and held a productive conversation with him on deepening bilateral defence cooperation, including in the co-production of defence articles, and exchanged perspectives on a variety of security issues.
'The US and India continue to use their deepening relationship to build new partnerships within and beyond the Indo-Pacific.'
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
As remarkable as DRDO's contribution in containing and treating COVID-19 has been, its success over the last 15 months has been in its primary role of developing conventional defence equipment and technologies.
'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).
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
India and US on Wednesday night signed a new strategically important 10-year defence framework agreement setting the stage for co-development and manufacture of defence equipment.
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 defence ministry on Thursday sealed a contract to procure 118 main battle tanks Arjun for the Indian Army at a cost of Rs 7,523 crore, in a major move to boost its combat capabilities.
Recently, the government relaxed foreign direct investment (FDI) norms for the space sector by allowing 100 per cent FDI in manufacture of components, systems or sub-systems for satellites, ground segments, and user segments. It also permitted 74 per cent FDI in satellite manufacturing and operation as well as satellite data products and 49 per cent in development of launch vehicles and spaceports. Following this, stocks of related companies saw an uptick on the bourses.
We must seize the opportunity provided by the COVID-19 crisis to kick-start indigenous research efforts, recommends Colonel Anil A Athale (retd).
Full liberalisation of the defence industry is necessary for both combat-readiness and security of long-term supplies, says Nitin Pai.
'As we enter 2025, it must be acknowledged that there is a convergence of capital, influential people (from business and politics) and technology deciding the destiny of others in the name of pride, patriotism, nationalism, nation building, all of it thinly veiled disguises for personal profit and glory,' asserts Shyam G Menon.
In the event of a war with China, AMCA deep strikes would target China's rail and road links with Tibet, isolating PLA divisions there.
As part of the "Atmanirbhar Bharat" (self-reliant India) package, the central government had announced on May 16 last year that it would improve autonomy, accountability and efficiency in ordnance supplies by corporatisation of the OFB.
'China's opaque defence allocation processes are shrouded in mystery and have triggered security dilemmas among its neighbours and others,' notes China expert Srikanth Kondapalli.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
Confronting a slowdown in growth, China says it will only increase its defence budget by 7.6% this year, against the anticipated rise of between 20% and 30%. 'It is difficult to explain the reduction in the Chinese defence budget,' says Claude Arpi. 'Is there a hidden budget? Possibly!'
'We are confident that over the next few years the government will strike a fine balance between populist measures and growth, and manage coalition partners well.'
Against the backdrop of growing Chinese assertion in the Asia-Pacific region, India on Thursday said it supports the "freedom of navigation" in international waters noting that any disputes or differences in the region must be resolved diplomatically.
The Army has now fallen behind the other two services for four years in a row.
The first C-295 aircraft was inducted into Squadron No. 11 of the IAF. It is one of the oldest squadrons of the Indian Air Force (IAF) and is currently based at Vadodara Air Force Station.
With an existing consumer base of 400 million across airports, electricity and gas distribution businesses, the Adani group is revving up its retail play. It is planning to use the 2.4 billion consumer interactions a year with group companies to push various products and services. The group has already launched the 'Adani One' super app that will eventually sell products across the spectrum, top executives said.
Chairman M Venkaiah Naidu has expressed disappointment saying "obstruction is destruction of parliamentary democracy".
'India-US defence pacts are seen by many analysts as a subtle move to jointly contain China's growing militarism, especially in the strategic Indian Ocean Region.'
The pact is significant as India has been sourcing its military jets from Russia and European consortia.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
"The open-ended nature of Section 6A has, with the passage time, become more prone to abuse due to the advent of forged documents to establish, inter-alia (among other things), wrong date of entry into Assam, inaccurate lineage, falsified government records created by corrupt officials, dishonest corroboration of the date of entry by other relatives so as to aid illegal immigrants who are otherwise not eligible under Section 6A by virtue of having entered into Assam after March 24,1971," he noted in a separate 127-page dissenting judgment.
'At 1.58% of GDP, the defence budget is one of the lowest since the Chinese aggression of 1962.' 'The government of the day has lost sight of the fact that defence of the country is as important as its growth,' says Brigadier S K Chatterji (retd).
The International Monetary Fund (IMF) warned on Tuesday that India's general government debt (comprising both central and state government debt) could exceed 100 per cent of gross domestic product (GDP) in the medium term. It also cautioned that long-term debt sustainability risks are high due to the significant investment required to meet India's climate change mitigation targets. The Indian government, however, disagreed, arguing that risks from sovereign debt are extremely limited as it is predominantly denominated in domestic currency.
The defence ministry said 10 helicopters will be for the Indian Air Force and five will be for the Indian Army.
'Those trying to use these funds for quick gains should avoid them due to risk of being late to the party.'
