Page 22 - Defence Sector

Defence exports will rise up to Rs 40,000 cr by 2026: Rajnath Singh

India would be exporting defence equipment and material worth Rs 35,000 to Rs 40,000 crore by 2026, Union minister Rajnath Singh said on Tuesday. The defence minister was delivering the Field Marshal Sam Manekshaw memorial lecture here on 'The role of youth in nation building', organized by Symbiosis International University. "First, there should be a sense of self-confidence that we will make India 'atmanirbhar' (self-reliant). In 2014, we used to do defence exports of only Rs 900 crore, but since India has adopted Indianization (program), today we are doing the defence export of Rs 15,000 crore to Rs 16,000 crore," he said. He was confident that by 2026, defence sector exports would rise to Rs 35,000 to Rs 40,000 crore, the minister added. "There is a need to create an eco-system, and more than the eco-system, there is a need to generate self-confidence among ourselves, as with self-confidence, anything is possible," he added. He was proud of the defence forces which are now ...

India to work with African nations to promote regional security: Rajnath

India will continue to work with African nations to promote regional security, foster stability, and enhance the defence capabilities together, Defence Minister Rajnath Singh said here on Tuesday. He also said India is steadfast in its commitment to provide support to African partner countries in all defence-related matters, including capability enhancement of their armed forces, to ensure their economic growth and social development. Singh was speaking at the first edition of the India-Africa Army Chiefs Conclave organised on the sidelines of the 2nd Africa-India Joint Exercise 'AFINDEX'. "As maritime neighbours linked by the Indian Ocean, our cooperation in maritime security and hydrography and countering terrorism and extremism will be essential for regional peace and prosperity," he said. He emphasised that the full potential of a nation's progress can be realised only when its security is ensured. The conclave was attended by Chief of the Army Staff General Manoj Pande and ch

India to support African partner nations in all defence matters: Rajnath

India is steadfast in its commitment to provide support in all defence-related matters to African partner countries, including capability enhancement of their armed forces, Defence Minister Rajnath Singh said here on Tuesday. Speaking at the conclave of Army chiefs in which 31 delegates from African nations participated, including 10 Army chiefs, Singh said India is at the forefront of providing training to the armed forces of African countries. He said the training programmes cover a wide range of areas including counter-insurgency, maritime security and specialised training in new domains such as drone operations and cyber warfare. India is steadfast in its commitment to provide support in all defence-related matters to our African partner countries including capability enhancement of their armed forces, he said. Noting that India has emerged as a leading defence exporter in recent years, Singh also invited African countries to explore Indian defence equipment and technologies.

Govt nods to 45 companies/JVs operating in defence sector with foreign OEMs

The government has given approval to "45 companies/joint ventures" operating in the defence sector with foreign OEMs (original equipment manufacturers), the Parliament was informed on Friday. Minister of State for Defence Ajay Bhatt said this in written response to a query in the Lok Sabha. "The government has given approval to 45 companies/JVs operating in defence sector with foreign OEMs," he said responding to a query on the number of foreign companies who have shown interest in manufacturing defence equipment under foreign direct investment in the country. Further, the government has taken several policy initiatives in the past few years and brought reforms to encourage indigenous design, development and manufacture of defence equipment in the country, thereby reducing dependency on imports in coming years, he said. "These initiatives, inter alia, include according priority to procurement of capital items from domestic sources under Defence Acquisition Procedure (DAP)-2020; .

PM Modi hails approval for capital acquisition of military hardware

Prime Minister Narendra Modi on Friday hailed the approval for proposals worth more than Rs 70,500 crore in the defence sector as a "boost to self-reliance" and said it was a reaffirmation of the faith in Indian talent. India on Thursday approved the capital acquisition of a plethora of indigenously-developed military hardware, including the indigenous BrahMos missiles, marine diesel engines, artillery gun systems, electronic warfare suits and utility helicopters, at a cost of Rs 70,584 crore as part of a mega procurement plan. All the platforms and weapons systems are being procured from domestic sources. Tagging Defence Minister Rajnath Singh's tweet asserting that persistent efforts are being undertaken to ensure self-reliance in the defence sector and proposals worth more than Rs 70,500 crore have been approved, Modi said, "A boost to self-reliance in defence, also reaffirming our faith in Indian talent." In another tweet, the prime minister urged people to visit the Matua Maha

Russia remains India's main arms supplier but imports dip sharply

India has been the world's largest arms importer since 1993 and "tensions with Pakistan and China largely drive its demand for arms imports," the report added

Shyam Metalics eyes $1 bn in revenue from stainless steel business

Company preps up expansion plan after acquiring Mittal Corp through the insolvency process

Giorgia Meloni visit: India, Italy open new chapter of defence ties

Italy and India have also decided to elevate bilateral relations to a strategic partnership

Cabinet okays buying 70 HTT-40 trainer aircraft from HAL for Rs 6,800 crore

HAL says it will engage Indian private industry, including micro, small and medium enterprises (MSMEs), in its supply chain

World Civil Defence day 2023 celebrated today: Theme, History, Importance

World Civil Defence Day is observed to promote the value of being prepared for emergencies and to increase public awareness of civil defence and emergency management

In defence of financial globalisation

The argument that a country can be an active participant in global trade but avoid financial globalisation is fundamentally faulty

F-35 fighters have been discussed since 2010: Boeing's Heidi Grant

'Boeing exports 40 per cent of India's aerospace and defence exports, which is quite significant'

Aero India Show: Defence stocks a good long-term bet, say analysts

In the near-term, analysts believe a drop in the defence budget for financial year 2023-24, coupled with premium valuations of related stocks, could weigh on the sentiment

UK to invest in defence and medical sectors in UP: British MoS at GIS

The British Minister of State for Defence Procurement on Sunday said that the United Kingdom will invest in defence, aerospace and medical sectors in Uttar Pradesh. Speaking at the United Kingdom Partner Country/Defence session held at Dadhichi Hall during the ongoing Global Investor Summit-2023, Alex Chalk, said, "It is a matter of pride for me to participate in GIS-23. Standing on this great land of Uttar Pradesh and inviting the whole world to invest is a big achievement. At the same time, it is also a big achievement that we are witnessing this programme in a state known as the 'Rice Basket'." Speaking at the session, UP Chief Minister Yogi Adityanath said that the UK, as a partner country, has contributed to GIS not only in the field of defence and aerospace but also in the field of food processing and that the investors will get full cooperation from the state government in carrying their projects forward. Assuring the UK delegation, Adityanath said that every investment made

IAF to acquire new transport aircraft under 'Make in India' initiative

India has embarked on a massive transformation of its defence sector through the ambitious 'Make in India' programme

HAL, BDL, BEL: Higher defence budget may spark fresh rally in related stks

Bharat Dynamics, Hindustan Aeronautics, and Bharat Electronics have skyrocketed 87 per cent, 79 per cent, and 44 per cent, respectively, since Budget 2022

India does not believe in hierarchical concept of world order: Rajnath

India's national efforts towards 'Make in India' are neither isolationist nor are they just meant for the country alone, Defence Minister Rajnath Singh said on Monday at a conclave of ambassadors. He also said that India does not believe in a hierarchical conception of a world order where a few countries are considered superior to others. "India's international relations are guided by the very essence of human equality and dignity," the minister said at the conclave to brief ambassadors about the upcoming Aero India, billed as Asia's biggest aerospace exhibition. It will be held in Bengaluru next month. "We do not believe in making or becoming a client or satellite state, and so, when we partner any nation, it is on the basis of sovereign equality and mutual respect," Singh added. The defence minister said India's self-reliance initiative is the beginning of a new paradigm of partnership with its partner countries. "Our national efforts towards 'Make in India' are neither ...

Defence procurement, pipeline offer strong growth for Bharat Dynamics

Margins for state-owned firm that specialises in missiles would be range bound given higher raw material costs

Govt working to achieve $22 bn defence production target by 2025: Rajnath

He further underlined that to increase the participation of domestic industry, the government has reserved a certain portion of defence capital acquisition for domestic procurement

Kerala official suspended over derogatory remark against defence personnel

An official attached to Kerala State Civil Supplies Corporation Limited, (Supplyco), has been suspended for making an "objectionable" remark against the defence personnel