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The Indian Defence market represents accessible cumulative capital and revenue acquisition opportunity of $306.95 billion from 2021 to 2030.
India aims to increase its defence production output to $25 billion, including exports of $5 billion. Simultaneously, the FY 2021-2022 defence budget s capital allocation was hiked by 18.7% to provide for modernisation.
The Indian defence market is at the cusp of a revolution, with the introduction of policy changes that promise to reduce program delays and speed up acquisition. Provisions such as allowing leasing of equipment and waiver of offset requirements in government-to-government deals also hold promise in the upcoming decade.
India Defence Market Report 2021: India Aims to Increase its Defence Production Output to $25 Billion, Including Exports of $5 Billion / FY 2021-2022 Budget s Capital Allocation was Hiked by 18 7%
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May Day celebration subdued in Tiruchi
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Tiruverumbur MLA Anbil Mahesh Poyyamozhi joins employees of BHEL for May Day celebration on Saturday.
Members of trade unions celebrated May Day by hoisting their organisation flags at industrial townships of BHEL, Ordnance Factory, High Energy Projectile Factory and Golden Rock Railway Workshop on Saturday in a subdued manner in view of the severity of the second wave of COVID-19 infection.
Tiruverumbur MLA Anbil Mahesh Poyyamozhi joined employees of BHEL affiliated to Thozhilalar Munnetra Sangam in the celebration.
Mr. Mahesh addressed the gathering and distributed sweets.
Members of CPI(M) and Democratic Youth Federation of India celebrated the day by hoisting their party flags at their homes in Gandhi Nagar and Selvapuram in Tiruverumbur area.
Since 2005, when Hindustan Aeronautics Ltd (HAL), Nashik, delivered the first “Made in India” Sukhoi-30MKI fighters, it has been HAL’s most lucrative cash cow.
Referred to as the “MiG Complex” since it was established in 1964 for licence manufacture of MiG-21FL aircraft, the Nashik division has traditionally generated 30-33 per cent per cent of HAL’s annual turnover. Last year, it generated Rs 7,000 crore out of HAL’s total turnover of Rs 22,700 crore.
This year, however, HAL’s leadership in Bengaluru is staring at the drying of its steadiest and largest income stream the licensed manufacture in Nashik division of 222 Sukhoi-30MKI fighters, the delivery of which was completed last year.
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(Reuters) - India’s Home Minister Amit Shah cut short an election rally in the east on Monday to head to the mineral-rich central state of Chhattisgarh, where Maoist guerillas at the weekend killed 22 security force members, officials said.
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In addition to the fatalities, 30 other members of the Indian police and paramilitary forces were wounded in a four-hour gun battle with Maoist rebels on Saturday, the deadliest ambush of its kind in four years.
On Monday, Shah travelled to Chhattisgarh to meet the injured pay tribute to those killed.
Also known as Naxals, the Maoists have waged an armed insurgency against the government for decades. Their leaders say they are fighting on behalf of the poorest, who have not benefited from the economic boom in Asia’s third-largest economy.
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