The Phase-II flying training on Chetak Helicopter is scheduled to commence on Monday and is planned to be completed by December 2022.
Russia’s invasion of Ukraine has raised concerns across countries of further such escalations, especially in geopolitical hotspots like south-east Asia.
The Company is working closely with GE for its support to pursue the export potential of LCA and also to supply spares to the global supply chain of GE 404 engines, Madhavan said.
"We are excited to explore potential opportunities with HAL, one of the largest aerospace companies in Asia," said Vice President of Business Development Integrated Fighter Group, Lockheed Martin Aeronautics, J R McDonald.
The total cost of Rs 48,000 crore includes design and development cost of Rs 2,500 crore to be given to Aeronautical Development Agency and around Rs 2,250 crore set aside for variations in foreign currency exchange rate.
The aircraft, manufactured by the HAL, is a potent platform for air combat and offensive air support with reconnaissance and anti-ship operations as its secondary roles.
Giving a break-up of the cost components, Madhavan said the basic price of the aircraft will be around Rs 25,000 crore while Rs 11,000 crore will be used for ground support equipment and other required infrastructure at the bases and around Rs 7,000 for basic customs duty and output GST.
The floor price for the offer has been fixed at Rs 1,001 per equity share of the company.
Hindustan Aeronautics spokesperson Gopal Sutar said HAL hospital is well-equipped with beds reserved for patients showing COVID symptoms
Aerosol boxes act as an insulator between the doctor and the patient to various state governments, as part of the fight against COVID-19.
The test was carried out at a shore-based test facility of the Indian Navy. The naval version of the aircraft is in development stage.
HAL's Profit After Tax (PAT) for the fiscal year 2018-19 stood at Rs 2,282 crore, an increase of 14.8 per cent over Rs 1,987 crore in the corresponding previous year.
HAL said it posted a revenue growth in excess of six per cent during 2018-19 as compared to 3.8 per cent during 2017-18.
The state-run company has been in news over allegations by the Opposition that it was overlooked when India and France signed an inter-government agreement to procure 36 Rafale jets and the offset contract was awarded to a private company.
The helicopter was flown by test pilots, Wg Cdr (Retd) Anil Bhambhani and Gp Capt (Retd) M R Anand VM, the Hindustan Aeronautics Limited (HAL) said in a release here Monday.
Replying to another question, Bhamre said in the last three years, 62 contracts have been signed with foreign vendors, including those from Russia, Israel, US and France for procurement of defence equipment for armed forces.
There were no casualties, police said, adding both the pilots ejected safely before the plane hit the ground.
HAL Chairman and Managing Director T Suvarna Raju the company's order book of Rs 41,000 crore is very low for an aeronautical industry and hoped to book fresh orders soon.
Minister of state for defence Subhash Bhamre said Rs 69.35 crore has been allocated in 2014-15, Rs 68.31 crore has been allocated in 2015-16, Rs 66.92 crore in 2016 and Rs 69.63 crore has been allocated in 2017-18.
Hindustan Aeronautics Limited today signed a MoU with Central Public Works Department for execution of infrastructure development works at HAL's new Greenfield helicopter facility at Tumakuru.
SAAB Grintek Defence and Hindustan Aeronautics Limited's Avionics Division, today signed a USD 8.5 million contract to deliver transfer of technology for in-country maintenance of SAAB's Integrated Defensive Aids Suite system, between South Africa and India.
Speaking to CNBC-TV18 DK Hota, Chairman of BEML said that it is too early to comment on the fallout of the Rafale deal. The company has an order book of Rs 6,400 crore, he said, adding that BEML is poised for a leap in defence sector.
"The umbrella understanding includes sharing of expertise in design, development, engineering and manufacturing between HAL and BEL to develop and produce advanced airborne communication, electronic warfare systems, etc," T Suvarna Raju, CMD, HAL said in a release.
HAL CMD T Suvarna Raju has handed-over the project to the beneficiary village panchayats of Nelamangala taluk, the company said in a release.
The production highlights of the year include 60 new aircraft and helicopters, overhauling of 229 aircraft and helicopters, 94 new engines, 446 engines overhauled and supply of 143 aerospace structures, HAL said.