Page 3 - Defence Sector

Andhra cadre IAS Giridhar Aramane takes charge as new defence secretary

Seasoned bureaucrat Giridhar Aramane on Tuesday assumed charge as the new defence secretary at a time the government has been focusing on modernising the three services. Aramane, a 1988-batch Indian Administrative Service (IAS) officer, was serving as secretary of the ministry of road transport and highways prior to his new assignment. Before taking charge, Aramane laid a wreath at the National War Memorial and paid homage to the fallen heroes. "We draw inspiration from these bravehearts and promise to work towards fulfilling their dream of making India a safe and prosperous country," he said. Aramane succeeded Ajay Kumar, who retired from service on Monday. In his 32-year career as an IAS officer, Aramane has held various important positions in the central government as well as the Andhra Pradesh government. He also served as an additional secretary in the cabinet secretariat. Aramane looked after the exploration division in the ministry of petroleum and natural gas and was exec

PM Modi calls on global defence majors to make India manufacturing hub

Prime Minister Narendra Modi on Sunday called on global defence majors to manufacture military hardware in India for the world after laying the foundation stone of a facility here for the production of European C-295 military transport aircraft. In his address, Modi said India is moving forward with the mantra of "Make in India and Make for the Globe" and that his government's policies are "stable, predictable and futuristic" which are boosting the overall economic growth. Under a Rs 21,935 crore deal inked in September last year, the Tata Group will manufacture 40 C-295 medium transport aircraft at the Vadodara facility in cooperation with European aerospace major Airbus. The prime minister said the manufacturing facility would help India become a hub for production of transport aircraft and that he could envision the day when big commercial planes would be made in the country bearing the words 'Make-in-India'. "India is presenting opportunities of low-cost manufacturing and high

India will become major producer of C-295 transport aircraft: PM Modi

India will now become a major producer of transport aircraft, Prime Minister Narendra Modi said on Sunday after laying the foundation stone of a manufacturing facility for European C-295 medium transport plane for the Indian Air Force. The prime minister said India has become a major manufacturing hub and a new saga of economic reforms is being written in the country as his government's policies are "stable, predictable and futuristic". "Today, India is working with a new mindset and new work culture," he said in his address at the ceremony in this city in Gujarat. The prime minister said India is going to become a major producer of transport aircraft and that he could see the day when big commercial planes would be made in the country. He said India, with its 'Make-in-India' and 'Make-for-World' approach, is enhancing its strength further and that the country has emerged as a major manufacturing hub globally. The prime minister said the manufacturing of C295 aircraft in Vadodara

Rajnath calls C-295 aircraft manufacturing facility in Vadodara a milestone

Defence Minister Rajnath Singh on Sunday said the laying of foundation stone of a manufacturing facility in Gujarat's Vadodara city for C-295 transport aircraft production for the Indian Air Force was a milestone in the country's journey towards self-reliance in the defence sector. Singh was speaking before Prime Minister Narendra Modi laid the foundation stone of the upcoming aircraft manufacturing facility in Vadodara. The aircraft will be produced by a consortium of European aerospace major Airbus and the Tata Group. It is the first project of its kind in which a military aircraft will be manufactured in India by a private company. In September last year, India sealed a Rs 21,935 crore deal with Airbus Defence and Space to procure 56 C-295 aircraft to replace the IAF's ageing Avro-748 planes that entered service in the early 1960s. Rajnath Singh said for the first time in the country, a private player is setting up a facility to manufacture aircraft. "This is definitely a mom

Busiest week for IPOs this year with four offers set to hit market

The last time four IPOs had hit market was in Dec 2021; latest rush notwithstanding, year 2022 has been lukewarm for IPOs with sustained FPI outflows, spike in volatility, correction in broader mkts

Rajnath backs indigenous tech capability to ensure reliability of supplies

Defence Minister Rajnath Singh said that the country "must have technological and production capability" if the "reliability of supplies" of defence items has to be maintained

Eyeing $5-bn exports, $22-bn turnover in defence sector by 2025: Rajnath

Terming exports as a key pillar for long-term sustainability of the domestic defence industry, Defence Minister Rajnath Singh on Thursday said the government has set itself a target of achieving defence exports of USD 5 billion by 2025. Speaking at an event at the 12th Defence Expo here, he also said the government was eyeing overall turnover of USD 22 billion in defence production in the same timeframe. "Domestic demand alone may not always provide economies of scale to make profitable investments and sustain them," Singh said, speaking at a seminar jointly organised by the US-India Business Council and Society of Indian Defence Manufacturers at Mahatma Mandir. The seminar was on the theme 'New Frontiers in US-India Defence Cooperation: Next Generation Technology, Innovation & Make in India'. "The USD 5 billion export target set for 2025 reflects the intent of the government for export-oriented manufacturing," the minister added. He also invited US defence companies to set ..

MoUs worth Rs 1,53,000 crore signed at DefExpo 2022, says official

As many as 451 Memorandums of Understanding (MoUs) and agreements worth Rs 1.53 lakh crore were signed during the Defence Expo or DefExpo 2022 at Gandhinagar, a senior official said. During the valedictory function of the 12th edition of DefExpo at the Mahatma Mandir convention centre, Defence Secretary Ajay Kumar informed the audience that it had broken previous records in terms of business generation. "This was the most outstanding defence expo ever. It saw the highest number of exhibitors, which is in addition to tens of thousands of business visitors. The extent of business this defence expo has generated has surpassed all the previous records," said Kumar. Defence Minister Rajnath Singh and Gujarat Governor Acharya Devvrat were among those present on the dais during the function. "In the last defence expo, which was held in 2020 in Lucknow, 201 MoUs were signed. I am happy to report that today, 451 MoUs and agreements were signed. It involves an estimated amount of Rs 1,53,000

PM Modi sets target of Rs 40,000 cr in defence exports at DefExpo 22

Releases another import embargo list, unveils indigenous trainer aircraft designed by HAL; lays foundation stone of the new Deesa airfield in Gujarat

Apollo Micro Systems hits over 4-yr high on stable outlook; stock soars 15%

In the past one month, the stock has outperformed market as shares surged 25 per cent, as against 4.4 per cent decline in the S&P BSE Sensex

Rajnath seeks industry cooperation to take defence sector to new heights

Defence Minister Rajnath Singh on Friday exhorted the Indian defence industry to make new investments and lay more emphasis on research and development to scale new heights.

Newsmaker: Constitutional law is new Attorney General Venkataramani's forte

With his appointment as AG, the many constitutional law matters that are pending before the Supreme Court will receive specialised attention

A shift towards indigenisation: 'Make in India' fortifies defence spending

An analysis of defence capex over the past 12 years shows a noticeable shift towards indigenisation

Gun systems procured in last 5 yrs indigenous except Ultra-Light Howitzer

All Gun systems procured in the last five years or being procured, apart from Ultra-Light Howitzer, are indigenous Gun Systems being manufactured in India, as per the Defence establishment sources

Defence exports up 334% in last 5 yrs, now exporting to 75 nations: Govt

Defence exports have grown by 334 per cent in the last five years and India is now exporting to over 75 countries due to collaborative efforts, the government said on Sunday. The Press Information Bureau (PIB) said in a tweet: "The Indian Defence sector, the second largest armed force is at the cusp of revolution." "Defence exports grew by 334 per cent in the last five years; India now exporting to over 75 countries due to collaborative efforts," it said. The PIB India Twitter handle also shared some data in a poster attached with the tweet to underline the indigenisation and boost of production in the defence sector. It mentioned the recent commissioning of India's first indigenous aircraft carrier INS Vikrant in Kochi. It also mentioned about the indigenous Advanced Light Helicopter Mk-III's squadron being commissioned into the Indian Coast Guard, and successful testing of new generation nuclear-capable ballistic missile 'Agni P'. Defence Secretary Ajay Kumar, during an interac

Bharat Dynamics rallies 6%, hits new high on strong growth outlook

The company expects an order book Rs 25,000 crore in the next 2 years

Czech Republic's defence spending to reach 2% of GDP by 2024, says govt

According to Fiala, it will not be easy to reach this goal from the point of view of the budget and the Ministry of Defence's capacities

India, Japan agree to strengthen defence cooperation during Tokyo meet

Indian Defence Minister Rajnath Singh and External Affairs Minister S. Jaishankar met their Japanese counterparts Hamada Yasukazu and Hayashi Yoshimasa

India, Japan to enhance military exercises and defence co-operation

India and Japan on Thursday agreed to enhance military exercises and defence cooperation as the two countries emphasised that the bilateral special strategic and global partnership plays a crucial role in ensuring a free, open and rules-based Indo-Pacific, amidst China's aggressive behaviour in the region. Defence Minister Rajnath Singh met his Japanese counterpart Yasukazu Hamada here on the first day of his official visit to Japan and the two leaders reviewed various aspects of bilateral defence cooperation and regional affairs. They also agreed to hold military drills aimed at boosting co-ordination between the air forces of the two nations. "Reviewed various aspects of bilateral defence cooperation and regional affairs during the bilateral meeting with Japan's Minister of Defence, Mr Yasukazu Hamada in Tokyo today. This year marks 70 years of diplomatic relations between the two countries," Singh tweeted. Noting that India and Japan pursue a Special Strategic and Global ...

Why 'Make in India' in defence may be leaving India vulnerable to threats

India's air force, army, and navy can no longer import some critical weapons systems to replace aging ones, the officials said