Page 14 - Defence Sector

Space related shares rally up to 13% after government eases FDI norms

MIDHANI surged 13 per cent, while MTAR Technologies soared 9 per cent, followed by Data Patterns (India) and Astra Microwave Products

India, US are key stakeholders in Indo-Pacific: Defence secy Aramane

This is the second INDUS-X meeting. The first was in June 2023 during Prime Minister Narendra Modi's state visit to the US

Vayu Shakti: Air Force displays growing combat prowess at Pokhran desert

The Indian Air Force (IAF) on Saturday displayed its firepower capability at a mega exercise featuring over 120 aircraft, including frontline fighter jets and attack helicopters in Rajasthan's Pokhran desert. In the Vayu Shakti exercise, the IAF also demonstrated the capabilities of its long-range drones and air-to-air missiles as well as its increasing strength in the rapid deployment of combat assets by airlifting weapons like M-777 ultra-light howitzers and other military platforms. In keeping with the exercise's theme 'Lightning Strike from the Sky', over 120 aircraft displayed the IAF's offensive capabilities by day as well as by night. Fighter aircraft, including the Rafale, Su-30 MKI, MiG-29, Mirage-2000, Tejas and Hawk, attacked and destroyed simulated enemy targets on the ground and in the air with deadly precision, the IAF said. These attacks were delivered in multiple modes and directions, employing a variety of precision-guided munitions as well as conventional bombs an

Zelenskyy warns weapons shortage risks giving Russia breathing space

Ukrainian President Volodymyr Zelenskyy warned allies Saturday that an artificial deficit of weapons for his country risks giving Russia breathing space, hours after his military chief said he was withdrawing troops from the eastern city of Avdiivka. Zelenskyy spoke to the Munich Security Conference, an annual gathering of security and foreign policy officials. Ukraine is back on the defensive against Russia in the nearly 2-year-old war, hindered by low ammunition supplies and a shortage of personnel. Ukrainians have proven that we can force Russia to retreat, he said. We can get our land back, and (Russian President Vladimir) Putin can lose, and this has already happened more than once on the battlefield." "Our actions are limited only by the sufficiency and length of range of our strength, he added, pointing to the situation in Avdiivka. Ukrainian commander Col Gen Oleksandr Syrskyi said early Saturday that he was withdrawing troops from the city, where outnumbered defenders battl

Defence ministry clears procurement of military hardware worth Rs 84,560 cr

The procurement proposals were cleared by the Defence Acquisition Council (DAC), headed by Defence Minister Rajnath Singh

Boeing Defence India appoints ex-naval aviator Nikhil Joshi as MD

US aerospace major Boeing on Thursday announced the appointment of Nikhil Joshi as managing director of Boeing Defence India (BDI), saying it is aimed at strengthening the company's operations and accelerated growth strategy in the country. Based in New Delhi, Joshi will lead current and future programmes for BDI to enhance the mission readiness and modernisation of India's defence forces, the company said. Joshi has more than 25 years of aerospace and defence industry experience, including over two decades of service with the Indian armed forces in the aviation branch of the Indian Navy. Prior to joining Boeing, Joshi served as the country manager for Eaton Aerospace where he was responsible for growing the business footprint for Eaton in India. He has more than 4,000 hours of flying experience on various Maritime Reconnaissance aircraft and has commanded both frontline ships and air squadrons. "We are delighted to welcome Nikhil to our team. His wealth of experience and strong .

Nato ramps up defence spend, says Trump's remarks undermine security

NATO Secretary-General Jens Stoltenberg said Wednesday that its European members and Canada have ramped up defence spending to record levels, as he warned that former US President Donald Trump was undermining their security by calling into question the US commitment to its allies. Stoltenberg said US partners in NATO have spent USD 600 billion more on their military budgets since 2014 when Russia's annexation of the Crimean Peninsula in Ukraine prompted them all to reverse the spending cuts they had made after the Cold War ended. Last year we saw an unprecedented rise of 11 per cent across European allies and Canada, Stoltenberg told reporters on the eve of a meeting of the organisation's defence ministers in Brussels. In 2014, NATO leaders committed to move toward spending 2 per cent of their gross domestic product on defence within a decade. It has mostly been slow going, but Russia's invasion of Ukraine two years ago focused minds. The 2 per cent figure is now considered a minimu

Defence ministry procurement via GeM portal crosses Rs 1 trillion mark

Procurement of goods and services by the Ministry of Defence (MoD) through public buying platform GeM has crossed Rs 1 lakh crore, with about half of it coming in the current financial year. The Government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all central government ministries and departments. "From procurement of general store items like eggs to missile systems and critical defence acquisitions, GeM has helped MoD execute more than 5.47 lakh orders. Of this, transactions worth around Rs 45,800 crore have been awarded in the current financial year," a commerce ministry statement said on Wednesday. It said the defence ministry is the "first" central government entity to cross this figure, exemplifying its resolute commitment towards optimising public spending in the Defence sector," GeM Chief Executive Officer P K Singh said. He added that around 50.7 per cent of the total orders, amounting to Rs 60,593 crore, have been .

Defence ministry inks Rs 1,752 cr deal with AWEIL for remote control guns

The Ministry of Defence on Wednesday signed a Rs 1,752.13-crore contract with a Kanpur-based firm for manufacturing and supply of 463 indigenously built 12.7 mm stabilised remote control guns for the Indian Navy and the Indian Coast Guard, officials said. This acquisition will provide further boost to the vision of "Aatmanirbharta in Defence", the ministry of defence said in a statement. "This contract will also open up a large avenue in defence manufacturing for over 125 Indian vendors and Defence PSUs for over a period of five years," it added. The ministry signed the contract with Advanced Weapon Equipment India Limited (AWEIL), Kanpur for "manufacturing and supply of a total of 463 indigenously manufactured 12.7 mm stabilised remote control guns (SRCG) for the Indian Navy and the Indian Coast Guard at a total cost of Rs 1,752.13 crore, with indigenous content (IC) of more than 85 per cent," it said. These guns will enhance the capability of the Navy and the Coast Guard to ...

HAL Q3 results: Profit rises 9% to Rs 1,261 cr on high aircraft demand

The company's total expenses fell more than 2% to Rs 4,838 crore, as it gained from Rs 111 crore worth inventory-related changes

Defence preparedness

Govt will have to find more resources

Rs 5,077 crore FDI reported by companies operating in defence sector: Govt

Foreign Direct Investment (FDI) worth Rs 5077 crore has been reported by companies operating in the defence sector, the defence ministry said in Lok Sabha on Friday. The data was provided by Minister of State for Defence Ajay Bhatt while replying to a question. The defence industry sector was opened up in May 2001 for private sector participation, he said. "The FDI limit in the defence sector was enhanced in 2020 up to 74 per cent through the automatic route for companies seeking new defence industrial licence and up to 100 per cent by the government route wherever it is likely to result in access to modern technology," Bhatt said. "So far, Rs 5077 crores worth of FDI has been reported by companies operating in the defence sector," he added. The minister said the government also promotes co-development and co-production of niche defence technologies with foreign original equipment manufacturers to encourage FDI in the defence sector. To a separate question, he said the defence ..

Dealing with Uncle Sam

Beyond historical uncertainties, New Delhi's emphasis on 'Make in India' introduces practical challenges in defence partnerships

Budget: Defence allocation at Rs 6.21 trillion, but stays below 2% of GDP

As a percentage of government expenditure, the budget allocated to defence is 13 per cent, continuing a multi-year trend of falling allocations

Defence Budget 2024: Rs 6.21 trn allocated, ambitious tech scheme announced

In the capital outlay for defence services, Rs 40,777 crore has been set aside for aircraft and aero engines while an amount of Rs 62,343 crore was allocated for "other equipment"

'India moving fast in defence production, 2,920 items indigenised so far'

India is moving "fast and steady" in defence production and so far indigenised 2,920 defence items out of 4,666 listed items, Director (DIP), Department of Defence Production, Amit Satija said on Wednesday. He was speaking on the topic ' Enhancing the participation of MSMEs in the Defence sector' at a state-level conclave of Defence MSMEs in Nagpur, organised by the FICCI (Federation of Indian Chambers of Commerce & Industry). Satija said multiple initiatives have been undertaken by the Ministry of Defence, especially the Department of Defence Production. "Out of 4,666 defence items, including assemblies, sub-assemblies, raw materials, critical spares and components etc, which were listed for indigenisation, 2,920 items have already been indigenised," he said. Referring to the Make-1 and Make-2 categories, Satija said several industry-friendly provisions are built in, such as relaxation in the eligibility criteria, minimal documentation, and other provisions for considering ...

Rolls-Royce, Azad Engineering partner to make defence aero-engine parts

Power and propulsion solutions provider Rolls-Royce on Monday said it has signed an agreement with Azad Engineering for making complex defence aero-engine components in India. Under the long-term agreement, Hyderabad-based Azad Engineering will manufacture and supply complex components for defence aircraft engines and thus join the global supply chain for complex category components for Rolls-Royce's technologically advanced aero-engines, the company said in a statement. "Strong collaboration has been at the heart of Rolls-Royce's journey of success in India. As we work towards strengthening the defence ecosystem, we are happy to expand our supply chain in India in partnership with Azad Engineering," Rolls-Royce Executive Vice President Business Development and Future Programmes and Head of Global Networks, Alex Zino, said. The sourcing of complex components from India for aero-engine programmes further advances the goal of capability creation in the country, he added. Azad ...

Tata group, Airbus team up to make helicopters; Thales' MRO on cards

India, France adopt joint defence production road map

Sajjan Jindal-owned JSW forays into defence manufacturing business

JSW Group's entry into the defence business reciprocates the Indian Government's confidence in providing impetus through the private sector's participation in building indigenous defence capabilities

US Pentagon has no more money for Ukraine as it hosts meeting of allies

For the first time since Defense Secretary Lloyd Austin established the international group to support Ukraine in April 2022, the United States will host the monthly gathering of about 50 countries out of money, unable to send the ammunition and missiles that Ukraine needs to fend off Russia's invasion. While waiting for Congress to pass a budget and potentially approve more money for Ukraine's fight, the US will be looking to allies to keep bridging the gap. Tuesday's meeting will focus on longer-term needs, deputy Pentagon press secretary Sabrina Singh told reporters. Even though we aren't able to provide our security assistance right now, our partners are continuing to do that, Singh said. On Tuesday in Brussels, NATO Secretary General Jens Stoltenberg announced a new USD 1.2 billion joint contract to buy more than 2,22,000 rounds of 155 mm ammunition. The rounds are some of the most heavily used munitions in this conflict, and the contract will be used to backfill allies that h