The Congress on Wednesday demanded complete transparency in the multi-crore India-US drone deal, while alleging that the 31 MQ-9B Predator UAV drones were being procured for a higher price. Congress spokesperson Pawan Khera said at a press conference that national security was paramount and that several doubts were being raised on the predator drone deal. "The Modi government is known to jeopardise national interests and the people of India have witnessed the same in the Rafale deal, where the Modi government bought only 36 Rafale jets instead of 126. We also saw how HAL was denied transfer of technology. We also saw how several unilateral decisions were made, despite widespread objections from the Defence Acquisition Committee and the Armed Forces. The Rafale 'scam' is still under scrutiny in France," he charged. "We demand complete transparency in this Predator Drone deal. India needs answers to the crucial questions. Otherwise, we will be trapped in another 'scam' under the Modi
The initial public offer of drone maker ideaforge Technology Limited was subscribed 13.27 times on the second day of share sale on Tuesday. The Rs 567.24 crore initial share sale received bids for 6,16,78,386 shares against 46,48,870 shares on offer, according to NSE data. The category for Retail Individual Investors (RIIs) received 36.36 times subscription, non-institutional investors quota got subscribed 21.59 times and Qualified Institutional Buyers (QIBs) portion 1.34 times. The Initial Public Offer (IPO) has a fresh issue of up to Rs 240 crore and an offer for sale of up to 4,869,712 equity shares. The IPO is in a price range of Rs 638-672 a share. Proceeds from the fresh issuance to the tune of Rs 50 crore will be utilised for debt payment, Rs 135 crore towards funding working capital gap, Rs 40 crore for investment in product development and the remaining amount for general corporate purposes. Founded in 2007, the Mumbai-based company has the largest operational deployment
The first of a two-part series looks at how the Centre's Svamitva scheme is empowering India's villagers
According to IPO watch, shares of IdeaForge enjoyed a premium of Rs 450 in grey markets, implying a likely listing price of Rs 1,122 on the upper price band
Describing the defence agreements signed during Prime Minister Narendra Modi's US visit as "historic", former defence secretary Ajay Kumar said several countries using 'Predator' drones are likely to come to India for maintenance and overhauling. India and the US inked a USD3 billion deal for 31 High Altitude Long Endurance (HALE) UAVs, of which the Navy will get 15 SeaGuardian drones, while the Army and the Indian Air Force will get eight each of the land version SkyGuardian. A joint statement by the two countries affirmed that these cutting-edge drones would be assembled in India, significantly augmenting the intelligence, surveillance, and target acquisition capabilities of the Indian armed forces. "When the US sells such advanced equipment, they never agree to any manufacturing outside the country. But in this particular case, it has said that the Predator drones will be assembled here and a full MRO hub for these drones will be set up as well," Kumar said. A full Maintenance,
India is yet to finalise the cost and other terms and conditions for procurement of 31 MQ-9B long endurance drones from the US, the defence ministry said on Sunday strongly trashing reports in a section of social media on the price as well as the acquisition process. The ministry said it will compare the acquisition cost of the drones with the best price offered by manufacturer General Atomics (GA) to other countries and that the procurement process would be completed as per the laid down procedure. India and the US firmed up the drone deal during Prime Minister Narendra Modi's high-profile visit to Washington. The defence ministry, in a statement, described the reports in social media on the price and the terms of purchase relating to the drone deal as "speculative" and said they are being spread with "ulterior motives". "These are uncalled for, have ulterior motives and aimed at derailing the due acquisition process. The price and other terms and conditions of the purchase are ye
Baba Kalyani, Chairman and MD of Bharat Forge Limited and founding president of the Society of Indian Defence Manufacturers has hailed Prime Minister Narendra Modi and US President Joe Biden for emphasising on co-production of critical systems and platforms "identifying avenues for joint research and development in advanced technologies."Kalyani termed the PM Modi's US visit, a reflection of "strengthening engagement between two great and large democracies."He said, "Historic state visit being accorded to PM Modi by US President Joe Biden is reflective of strengthening engagement between two great and large democracies, to scale up the Indian market and its requirements, combined with our overlapping strategic interest, create both an opportunity and imperative for businesses on either side...to expand bilateral trade & commerce, to strengthen engagement including strategic sectors such as defence, space, 5G, semi-conductor amongst others and collaborate to co-develop critical ..
The government on Friday eased norms for the export of certain categories of drones, meant for civilian-end uses, with a view to facilitating the outbound shipments of high-tech items. The commerce ministry's arm DGFT said the export of drones/Unmanned Aerial Vehicles (UAVs) of certain specifications would be allowed under the General Authorization for Export of Drones (GAED), a one-time general licence valid for three years. "The export of Drones/UAVs not covered under the specified categories in SCOMET list and capable of range equal to or less than 25 km and delivering a payload of not more than 25 kg (excluding the software and technology of these items) and meant for only civilian end-use, will now be subject to GAED," the Directorate General of Foreign Trade (DGFT) said. Exports of items under the Special Chemicals, Organisms, Materials, Equipment and Technologies (SCOMET) list are permitted only against an export authorisation issued on this behalf. "In line with the emphasi
The agreement would strengthen India's national security and surveillance capabilities, extending beyond the Indian Ocean and encompassing the border region with China
Defence deals being signed between Indian and the US during Prime Minister Narendra Modi's visit will prove beneficial for India, defence experts said on Thursday. Prime Minister Modi is on a state visit to the US from June 21 to 24 at the invitation of President Joe Biden. In a landmark announcement, GE Aerospace on Thursday said it has inked a pact with Hindustan Aeronautics Limited (HAL) to jointly produce fighter jet engines for Indian Air Force's Light Combat Aircraft (LCA)-Mk-II -- Tejas. India is also likely to sign a deal to buy MQ-9B Predator armed drones from US manufacturer General Atomics. The experts said the deals will boost India-US defence ties. Defence expert Brigadier (retired) Rahul Bhonsle said the drones will prove beneficial for India's northern border as well as along the maritime boundary. "This particular drone has capability not just to seek targets but to immediately attack them.... It can carry out a strike itself. It leaves very little opportunity for
PM Modi is expected to meet the top 20 business leaders of US companies, including Mastercard, Accenture, the Coca-Cola Company, Adobe Systems and Visa
Top Defence Ministry and military brass to attend the meeting. Other 'Made in India' defence deals are also on the agenda of the meeting
Kuwait reached an agreement worth USD 367 million with Turkish drone giant Baykar to purchase its increasingly sought-after TB2 combat drones, the Kuwaiti army said. The drone, Bayraktar TB2, boasts unmanned aerial vehicles that can carry lightweight, laser-guided bombs, and fly for up to 27 hours at a time, which, according to the company, was a record, it had set while testing the drone in Kuwait in 2019. The announcement, on Tuesday, would set Kuwait to become the 28th country to procure the TB2 drones. Demand for the drones has surged due to their successful deployment in conflict zones such as Libya, Syria and Ukraine. Kuwaiti Air Force operations chief brigadier, General Fahad Al-Dosari, said in a video posted on their Twitter account that the drone fleet can support the navy and coast guard, as well as monitor maritime and land borders. He said the drones can also carry out reconnaissance and targeted missions in addition to supporting search and rescue efforts. Baykar and
Ahead of Lord Jagannath's annual Ratha Jatra on June 20, Puri police has banned flying drones near the 12th century shrine, an official said on Monday. The restriction will be in force till July 1, the official said, adding legal action will be taken against defaulters. Unregulated drone use by inexperienced people poses a risk to the safety of devotees. We had earlier initiated legal action against a few for violating the rules, a senior official of Puri police said. The advisory was issued keeping in view the safety and security of Srimandir, Sri Gundicha temple, chariots of deities and devotees. Since Sri Jagannath Temple is declared as a Red Zone as per provisions of The Drone Rules 2021, no one is allowed to fly the gadgets over the temple premises, the advisory said, adding that no operator should fly a drone without a valid UIN (unique identification number) issued by the DGCA (Director General of Civil Aviation). The order said drone operators will be responsible for any .
The Border Security Force (BSF) has shot down another Pakistani drone near the International Border in Punjab's Amritsar
A drone crashed into a high-rise residential building in southwestern Russia near the border with Ukraine, a regional governor said Friday, exposing the latest vulnerabilities in the country's air defence systems as President Vladimir Putin's war in Ukraine increasingly affects Russian soil. The latest drone attack to target Russian cities in recent weeks wounded three people and came amid a front-line push by Ukrainian forces in what appears to be the early stages of a long-awaited counteroffensive in pockets of south and east Ukraine that Russia invaded more than 15 months ago. The Ukrainian presidency's website posted a video statement overnight from President Volodymyr Zelenskyy that alluded to the latest efforts of his country's forces to drive out the Russian invaders, along various parts of the more than 1,000-kilometer front line. Speaking inside what appeared to be a train car after visiting flood-hit southern Ukraine on Thursday, Zelenskyy said it was not time yet to talk
The government on Thursday said Primary Agricultural Credit Societies (PACS) can be employed as drone entrepreneurs for spraying fertilizers and pesticides, and for survey of property. This was among the five key decisions taken in a meeting between Cooperation Minister Amit Shah and Minister of Chemicals and Fertilisers Mansukh Mandaviya, the Ministry of Cooperation said in a statement. In the meeting, it was decided that on the basis of mapping, PACS -- which are not functioning as fertilizer retailers -- will be identified and they will be encouraged to function as retailers on the basis of feasibility in a phased manner, it said. Those PACS, which are not currently functioning as Pradhan Mantri Kisan Samruddhi Kendras (PMKSK), will be brought under the ambit of PMKSK, it added. Further, PACS will also be connected with the marketing of organic fertilizers, especially Fermented Organic Manure (FoM)/ Liquid Fermented Organic Manure (LFOM)/ Phosphate Enriched Organic Manure ...
European aviation major Airbus on Tuesday said it will offer DGCA-approved drone pilot training courses in India. The five-day certificate courses, designed for micro and small category drones, will commence at the Airbus Training Centre in Bengaluru on June 26, Airbus said in a statement. The programme will include both theory and flying lessons that will boost the knowledge of aspiring drone pilots and deepen capabilities in the fast-developing drone sector in India, it said. Building on Airbus' growing presence in delivering pilot and maintenance training in India, a broadening of the scope into drone training is a demonstration of the company's commitment to supporting the upskilling of India's aviation infrastructure development, Laurie Alder, Head of Customer Services at Airbus India and South Asia, said. According to the company, the Directorate General of Civil Aviation (DGCA)-approved Airbus instructors will provide theoretical training covering topics such as drone rules,
Goa Police have decided to keep a close and vigilant watch on activities on the state's coastal areas by using drones
The drone was advised to destroy the enemy's air defence systems and killed the operator when he interfered with its efforts to complete it