In his speech at the banquet hosted in honour of Swedish King King Carl XVI Gustaf and Queen Silvia at Rashtrapati Bhavan, the president said he was happy to note that India-Sweden bilateral trade and investment relations are gaining strength.
In normal times, an India-Russia bilateral summit would have passed off as a routine meet. However, a clear Russian support on Kashmir issue has made Narendra Modi’s Russia visit special. In return, Moscow may bag some big-ticket defence, nuclear and energy deals.
Chaiti Narula does a 3 point analysis of the defence sector's Q2 performance, and also looks into how hardware manufacturers could perform in 2019, as a valuation rerating is long overdue.
"The defence minister stressed upon the fact that the defence sector is more prone to cyber threats and hence it becomes important to safeguard our cyberspace with anticipation of possible attacks," according to a defence ministry statement.
It will drive the country’s military and security strategy, draft capability development plans as well as guide and accelerate defence equipment acquisitions
In his address after inaugurating the four-day Defence Expo here, Modi said laziness, incompetence or “perhaps some hidden motives” of the previous government had badly impacted the defence sector.
Jaitley said that Pakistan has responded to India’s peace overtures by attacks in Pathankot, Uri and mutilation of soldiers
In an interview to PTI, he said the government is working on a policy that will incentivise companies to set up manufacturing bases in India.
The decision was taken during a meeting of Chief Minister Devendra Fadnavis and U K Defence Secretary Michael Fallon here today. "Had a nice meeting with UK Defence Secretary Michael Fallon and delegation this morning and good discussion on various bilateral issues, "Fadnavis said on Twitter.
"The use of high-nitrogen steel will replace the existing import of rolled homogeneous armour (RHA), resulting in improved cost efficiency in material acquisition for armour applications by 50 percent," JSHL said after the pact was signed in the presence of Minister of State for Defence Subhash Bhamre today.
Steel volumes could go up by 10-15 percent this year but margins might remain at 12-15 percent, says Abhyuday Jindal, Vice Chairman, Jindal Stainless.
Ambani said the Group's focus will be to become a leading manufacturer and supplier of advanced weapon platforms and military hardware to meet the requirements of the Navy, Indian Air Force and the Army and also mark the company's presence across the world.
"Reliance Infrastructure Ltd-promoted Reliance Aerostructure Ltd's proposed JV with Dassault Aviation has received the CCI clearance," Reliance Infrastructure (RInfra) said in a statement.
Outgoing Obama Administration today identified strengthening of India-US relationship as one of its top accomplishments in foreign policy and defence sector, with Secretary of State John Kerry articulating that the US should continue to work with India to expand the vast areas of cooperation between the two nations and its peoples.
"The construction arm of L&T has won orders worth Rs 1,726 crore across various business segments," L&T said in a BSE filing today.
The minister, who was in the city to attend the party's state executive meeting, said "the pace of development in the country has accelerated under the leadership of Prime Minister Narendra Modi".
"The Congress government had allowed FDI in defence with a pre-condition that it would be for state-of-the-art-technology but the present government has eased the conditions. The Prime Minister is working under pressure from the United States.
"The inflow of FDI would help in acquiring state-of-the-art technology and indigenous manufacturing of defence equipment and the Army would not be dependent if there is any problem with our neighbours," the Union Minister of State for Defence said on the sidelines of International Yoga Day programme.
Speaking to Rituparna Bhuyan of CNBC-TV18, Ramesh Abhishek said that the past two years have witnessed considerable growth in the FDI inflows which is a result of a liberalised FDI regime and shows investor confidence.
FII fund flows have always been petty in India, being nowhere close to a significant sum because of the controlled regime. We need defence modernisation and opening doors to FIIs will help us get more such technology, says JD Patil of L&T Defence, in an interview to CNBC-TV18.
I do not think it is a right step. In fact, a big set-back for the domestic manufacturers. The move doesn't give any indigenous impetus, says GK Pillai, the MD & CEO of Walchandnagar Industries in an interview with CNBC-TV18.
"The government's focus on creating infrastructure will create a huge demand for our explosives and explosives accessories," the company's Chief Financial Officer Nilesh Panpalliya told PTI.
The firm, which is in negotiations with India for several defence projects worth billions of dollars, also made it clear that they would be able to invest in the domestic defence sector only if they get contracts as it takes "two to tango".
"Defexpo India 2016, the ninth in the series of biennial Land, Naval and Internal Homeland Security Systems Exhibition, will be held at Naqueri Quitol in Quepem taluka of South Goa from March 28-31, 2016," the Ministry said on its website designed for this internationally famed event.
Jaitley on Monday gave relief to small tax payers, nudged the affluent to shell out more while focusing on the rural economy with much higher fiscal outlays.