Page 3 - Defence Sector

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

Indigenising gas turbine engines a strategic necessity; could save Rs 3 trn

due to a trust deficit and the absence of inclusive policies for involving private players, aero engine research and development (R&D) remains a monopoly of the public sector

Defence sector firms set for gains as India pushes indigenous manufacturing

Companies like BEL, BDL and HAL have strong order books and are prepping for the export market, say analysts

Indian Navy to get a new ensign: What is changing and why is it important?

On September 2, PM Modi will unveil a new ensign of the Indian Navy that will not include the St George's Cross

GeM pegs defence procurement to reach Rs 30,000 cr this year: Official

Public procurement portal Government eMarketplace projects defence procurement made through it to double to Rs 30,000 crore during the current financial year, a top official said here on Friday. According to GeM Chief Executive Officer P K Singh, the procurement agency expects to garner about Rs 2 lakh crore sales in the year across the country. The GeM portal launched by the Centre in 2016 is for online purchase of goods and services by all central government ministries and departments. "Defence sector has been the largest procurer through the portal since inception. Last year, the defence procurement was around Rs 15,000 crore. The target is to double it to Rs 30,000 crore this year," he told reporters here. "Apart from weaponry, everything for Defence is done by GeM," he said. Singh, an IAS officer of the Manipur cadre, said the procurement portal achieved overall sales of Rs 1.06 lakh crore last year. "This year, we are expecting to reach Rs 2 lakh crore post the COVID-19 ...

Distinguished scientist Samir V Kamat appointed DRDO Chairman: Ministry

The Appointments Committee of the Cabinet has approved Kamat's appointment from the date of his assumption of charge till he attains the age of 60 years

Country's economic prowess gets reflected in its ammunition: Rajnath Singh

A country's economic prowess gets automatically reflected in the field of ammunition and India must focus on boosting research and development as well as manufacturing capability, Rajnath Singh said