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<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19938893" type="General" weightage="20" keywordseo="defence-exports" source="keywords">defence exports</keyword> have surged from Rs 15 billion in 2017 to Rs 210 billion in 2024, registering a CAGR of 46 per cent, highlighted a report on 'Defence Conference 3.0' by Antique Stock Broking. The report stated that the <keyword id="20861069" type="General" weightage="20" keywordseo="global-shift" source="keywords">global shift</keyword> towards a China+1 strategy and the impact of the <keyword id="20016971" type="General" weightage="20" keywordseo="Russia-Ukraine-war" source="keywords">Russia-Ukraine war</keyword> offer India additional opportunities to fill supply chain gaps, potentially boosting its share in the <keyword id="23046732" type="General" weightage="20" keywordseo="global-defence-industry" source="keywords">global defence industry</keyword>. The report noted that the country's long-term goal is to become a global defence manufacturing hub is driven by Defence Public Sector Undertakings (DPSUs), private enterprises, start-ups, and MSMEs. "Indian defence exports have grown multi-fold from INR 15 bn in 2017 to INR 210 bn in 2024 at a CAGR of 46%. The China + 1 strategy and the Russia-Ukraine war provides an additional opportunity for India to fill the gap created in the supply chain and hence increase its contribution to the global defence industry," the report read. The report added that to achieve this target a well-developed domestic ecosystem is crucial as lower import content in products accelerates approvals by reducing international conflicts. The report added that the Ministry of Defence has taken key initiatives to attract Indian private players and global Original Equipment Manufacturers (OEMs) include establishing aerospace parks and defence corridors, fast-tracking project approvals, and enhancing development and testing facilities. Highlighting the potential in India's Maintenance, Repair, and Overhaul (MRO) segment the report explained that it holds a significant potential for global aerospace companies due to its technical expertise and cost-competitive solutions. "India provides a huge opportunity in the <keyword id="23046733" type="General" weightage="20" keywordseo="MRO-segment" source="keywords">MRO segment</keyword> for global aerospace leaders given the expertise the country provides as well as the cost efficiency solutions compared to its global competitors" the report added. India aims to increase domestic defence turnover to Rs 3 lac crore by 2029, Rs 500 billion targeted for exports. This growth will help reduce the Government of India's import bill as India remains the world's largest importer of defence equipment. Under the Atmanirbhar Bharat initiative of the government, 75 per cent of the defence capital outlay is now reserved for domestic players, up from 49 per cent in FY21. Given the geopolitical challenges and modernisation needs of its Armed Forces, the report added that India plans to invest Rs 8.3 lac crore in domestic procurement, offering substantial business opportunities for local companies. "India intends to place orders worth INR 8.3 trn through domestic procurement and thus it presents a massive business opportunity for local players" it added. As per the Ministry of Defence, India's defence manufacturing sector has witnessed an increase of 16.8 per cent in the fiscal year 2023-24. This significant increase marks the highest-ever growth in the country's defence production value. The total value of defence production reached Rs 1,26,887 crore this year, up from the previous year's figures.

India's defence exports surge to Rs 210 billion after global shift towards China+1, Russia-Ukraine war: Report

The United States has invested significantly in expanding its strategic partnership with <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword> and is pursuing a robust agenda to deepen the bilateral cooperation, US Deputy Secretary of State Kurt <keyword id="20428643" type="General" weightage="20" keywordseo="campbell" source="keywords">Campbell</keyword> has said. Addressing the ongoing India-US Defence Acceleration Ecosystem (INDUS-X) Summit in California on Monday, Campbell said successive administrations in Washington and New Delhi have invested time and political capital to bring the partnership to greater heights. "But in the last year, I like to say, our partnership has reached 'escape velocity'," he said. "The United States has invested significantly in expanding our strategic partnership with India, and we are pursuing a robust agenda to deepen cooperation for the rest of the year - not only diplomatically, but also through iCET ( initiative on Critical and Emerging Technology)," Campbell said. The third edition of the two-day INDUS-X summit began on Monday. It is organised by the <keyword id="20263494" type="General" weightage="20" keywordseo="us-india-strategic-and-partnership-forum" source="keywords">US India Strategic and Partnership Forum</keyword> (<keyword id="20252677" type="General" weightage="20" keywordseo="usispf" source="keywords">USISPF</keyword>) at Stanford University in California. "Our defence establishments, research institutions, private industry, and startups possess a deep bench of talent and mutual thirst for innovation, which is why INDUS-X was designed to create the necessary ecosystem and partnerships for new ideas, research, and development to flourish," the top American diplomat said. Asserting that the two countries are "more closely aligned than ever before" today, Campbell said the US and India have pursued an "ambitious agenda" of summits, joint challenges, and exchanges in over a year since the launch of the INDUS-X. INDUS-X, which stands for enhanced strategic and defence partnership between India and the US, was launched on June 21 last year by the <keyword id="20331010" type="General" weightage="20" keywordseo="us-department-of-defence" source="keywords">US Department of Defence</keyword> and the <keyword id="22082092" type="General" weightage="20" keywordseo="indian-ministry-of-defence" source="keywords">Indian Ministry of Defence</keyword> during Prime Minister <keyword id="6354477" type="General" weightage="20" keywordseo="narendra-modi" source="Orion">Narendra Modi</keyword>'s state visit to Washington, DC. "I expect these efforts will continue, given the deep bonds that tie our countries together and the strategic challenges we both face. INDUS-X is now, and will be, a cornerstone of our continuing efforts to advance the US-India Initiative on Critical and Emerging Technology - iCET," Campbell said. The iCET was launched by Prime Minister Modi and US President Joe Biden on the sidelines of the QUAD summit in Tokyo on May 24, 2022. Observing that technological leadership is increasingly at the heart of the strategic competition, Campbell said it is the great differentiator in the US foreign policy approach. "And India is in a very small group of countries with whom we work most intimately on tech. The iCET, which places technology at the very heart of the US-India partnership, has greatly accelerated our strategic cooperation," he said. Talking about the second iCET meeting that took place between National Security Adviser Ajit Doval and his US counterpart Jake Sullivan in June, Cambell said it "showed the immense progress we are making across a range of sectors including space, semiconductors, advanced telecommunications, artificial intelligence, quantum, biotechnology, and clean energy". "Deepening defence cooperation is also a key pillar of iCET," said the top American diplomat. "Our work together driving innovation and developing cutting-edge technologies will help us maintain a critical advantage for our armed forces. We've taken unprecedented steps to increase operational coordination, information sharing, and defence industrial cooperation, including co-production," he said. "In fact, we've authorised an unprecedented level of technology transfer as part of the GE engine co-production arrangement, and our two governments have just finalised a Security of Supply Arrangement to reinforce our supply chain resilience," he said. Last year, GE Aerospace and <keyword id="19998363" type="General" weightage="20" keywordseo="hindustan-aeronautics-limited" source="keywords">Hindustan Aeronautics Limited</keyword> (HAL) inked a pact to jointly produce fighter jet engines for the <keyword id="19992067" type="General" weightage="20" keywordseo="indian-air-force" source="keywords">Indian Air Force</keyword>'s Light Combat Aircraft (LCA)-Mk-II - Tejas. "Under INDUS-X, the US and Indian governments have also announced: awards of USD 1.2 million in seed funding to ten US and Indian companies under Joint IMPACT 1.0 Challenges; our intent to launch two additional joint challenges in other domains, including space; and the launch of a INDUSWERX Testing Consortium of industry, academia, and nonprofit organisations across the US and India to promote our companies' access to testing and experimentation facilities," Campbell said.

US invested significantly in expanding strategic partnership with India: Kurt Campbell

New Delhi: The decision of the <keyword id="20330004" type="General" weightage="100" keywordseo="Defence-Acquisition-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="Defence Acquisition Council" meta.hostid="261" meta.entityid="Defence Acquisition Council">Defence Acquisition Council</keyword> (DAC) to accept 10 <keyword id="22515789" type="General" weightage="20" keywordseo="capital-acquisition" source="keywords">capital acquisition</keyword> proposals worth Rs 1.4 trn will not only boost <keyword id="23034601" type="General" weightage="20" keywordseo="domestic-defence-manufacturing" source="keywords">domestic defence manufacturing</keyword> but will contribute to the growth of the <keyword id="20362868" type="General" weightage="20" keywordseo="PSU-companies" source="keywords">PSU companies</keyword> in the defence sector, highlighted a report by Antique Stock Broking. The report noted that the growth of domestic defence manufacturing in the country has picked up significantly over the last few years and is expected to grow further in the future. It added that the government's focus on enhancing domestic capabilities is evident from its initiatives in FY24, where Acceptance of Necessity (AoN) was accorded to proposals worth approximately Rs 3.61 trillion under various capital procurement categories. These initiatives are in line with the Defence Acquisition Procedure (DAP) 2020, which strongly promotes domestic manufacturing. "The government, in FY24, accorded Acceptance of Necessity (AoN) to proposals worth approximately INR 3.61 trn under various categories of capital procurement, which promotes domestic manufacturing as per DAP-2020" said the report. A significant milestone highlighted in the report is the remarkable increase in the share of domestic procurement in India's defence sector. The share has improved from 54 per cent in FY19 to 75 per cent in FY24. The report noted that this trend is expected to strengthen further, driven by the fact that more than 99 per cent of the announced proposals are to be sourced from the domestic industry under the "Buy (Indian)" and "Buy (Indigenously Designed, Developed, and Manufactured)" categories. "The total share of domestic procurement has seen a phenomenal improvement from 54% in FY19 to 75% in FY24 and is expected to improve further. The report stated that the DAC's (Defence Acquisition Council) approval of proposals worth Rs 1.45 trillion is aimed at enhancing the operational capabilities of the Indian Armed Forces. The report further emphasizes that with Rs 1.45 trillion worth of projects already approved in the year-to-date FY25, the <keyword id="20994345" type="General" weightage="20" keywordseo="defence-PSUs" source="keywords">defence PSUs</keyword> are poised for strong growth in the near to long term. "With approval for Rs 1.45 trn worth of projects in YTDFY25, we believe defence PSUs have strong growth opportunities in the near to long term" the report added. The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh on Tuesday accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. Of the total cost of AoNs, 99 per cent is from Indigenous sources under the Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories, the Ministry of Defence stated. For the modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all-terrain ability, multilayered protections, precision and lethal fires over and real-time situational awareness, the release stated. The AoN was also accorded for procurement of Air Defence Fire Control Radars, which will detect and track aerial targets and provide firing solutions. The proposal has also been approved for Forward Repair Team (Tracked) which has suitable cross-country mobility for carrying out in-situ repair during mechanised operations.

DAC capital acquisition of Rs 1.4 trn to boost defence PSUs: Report

The <keyword id="19905108" type="General" weightage="20" keywordseo="ministry-of-defence" source="keywords">Ministry of Defence</keyword> has sanctioned over Rs 300 crore through its <keyword id="20416767" type="General" weightage="100" keywordseo="technology-development-fund" source="keywords">Technology Development Fund</keyword> (TDF) to create an ecosystem aimed at enhancing capabilities in cutting-edge technology and promoting '<keyword id="20460685" type="General" weightage="20" keywordseo="aatmanirbharta" source="keywords">Aatmanirbharta</keyword>' in defence, an official statement said on Thursday. The Technology Development Fund (TDF) scheme is a flagship programme of the Ministry of Defence, executed by <keyword id="19948662" type="General" weightage="20" keywordseo="drdo" source="keywords">DRDO</keyword> under the '<keyword id="20018809" type="General" weightage="20" keywordseo="make-in-india" source="keywords">Make in India</keyword>' initiative. Under this initiative, the government provides grants-in-aid to Indian industries, including <keyword id="19910977" type="General" weightage="20" keywordseo="msmes" source="keywords">MSMEs</keyword> and <keyword id="19945815" type="General" weightage="20" keywordseo="startups" source="keywords">startups</keyword>, as well as academic and scientific institutions, for the development of defence and dual-use technologies that are currently not available in the Indian defence industry. With these initiatives, the Ministry aims to engage private industries, especially MSMEs and startups, to foster a culture of design and development in military technology and support them with grants-in-aid. The TDF seeks to enhance the capacity and capability of Indian industries for the design and development of defence technologies in the country. It aims to create an R&amp;D ecosystem where industry and academia work together to meet the current and future requirements of the Armed Forces and the defence sector. The government aims to achieve 'Aatmanirbharta' in defence technology by building a robust defence manufacturing ecosystem in the country. The <keyword id="19910956" type="General" weightage="20" keywordseo="defence-ministry" source="keywords">Defence Ministry</keyword> on Wednesday highlighted several successful startups benefiting from the scheme. Pune-based startup <keyword id="22281521" type="General" weightage="20" keywordseo="Combat-Robotics" source="keywords" meta.keywordsubtype="org" meta.entityname="Combat Robotics" meta.hostid="153" meta.entityid="Combat Robotics">Combat Robotics</keyword>, with the help of the scheme, has successfully developed an innovative simulator for <keyword id="20146841" type="General" weightage="20" keywordseo="unmanned-vehicles" source="keywords">unmanned vehicles</keyword>. This multi-domain simulator supports unmanned ground vehicles (UGVs), unmanned underwater vehicles (UUVs), unmanned surface vehicles (USVs), and unmanned aerial vehicles (UAVs), serving as an excellent development tool for agencies working on autonomous systems. Another Pune-based defence equipment startup, ChiStats Labs Private Limited, is developing virtual sensors for aero gas turbine engine health monitoring, which helps to increase the operational reliability and longevity of the engines. The system is built on modern artificial intelligence/machine learning (AI/ML) technologies. Bengaluru-based NewSpace Research and Technologies Pvt. Ltd., under the project titled 'Autonomous Drone as First Responder for Search and Report Operations in Enclosed/Indoor Environments', has created a cutting-edge UAV capable of exploring indoor environments under various conditions, including zero light. The success of this project will open up various applications, including search and rescue operations, surveillance, industrial inspections, environmental monitoring, and hazardous environment exploration, contributing significantly to technological advancements in unmanned aerial systems, the Ministry added. The technology has been developed under the technical guidance and mentorship of CAIR, Bengaluru.

Defence ministry allocates Rs 300 cr for technology development fund to promote Make in India products

Prime Minister <keyword id="19895781" type="General" weightage="20" keywordseo="Narendra-Modi" source="keywords">Narendra Modi</keyword> and <keyword id="19901464" type="General" weightage="20" keywordseo="French-President-Emmanuel-Macron" source="keywords">French President Emmanuel Macron</keyword> agreed to further intensify <keyword id="22062767" type="General" weightage="20" keywordseo="strategic-defence-cooperation" source="keywords">strategic defence cooperation</keyword> with an increased focus on '<keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make in India</keyword>' when both leaders met on the sidelines of the G7 Summit held in Italy. "They (both the leaders) agreed to further intensify strategic defence cooperation with an increased focus on 'Make in India'," a short statement from the Prime Minister's Office said. At the invitation of Prime Minister Meloni, PM Modi travelled to the Apulia region in Italy to participate in the G7 Outreach Summit earlier this week. This was his first overseas visit since assuming office for the third consecutive term. France is one of India's key partners in the development of a self-reliant defence industrial and technological base. India and France are committed to cooperating in the co-development and co-production of advanced defence technologies, including for the benefit of third countries. Several defence companies, in both countries, are currently working on various initiatives, including cooperation for the motorization of heavy-lift helicopters under the Indian Multi-Role Helicopter [IMRH] programme with Safran Helicopter Engine, France. A shareholder's agreement between Hindustan Aeronautics Limited (HAL), India and Safran Helicopter Engine, France, has been concluded for engine development. Safran Helicopter Engine and HAL collaborated on the transfer of technology of forging and casting for the Shakti Engine. This is also reflective of the French commitment to support technology transfer and the Make in India initiative. Another such example is the MoU between Garden Reach Shipbuilders and Engineers Ltd. (GRSE), and Naval Group France, a leader in the European Naval Defence Industry, to collaborate in the field of surface ships that cater to the requirements of India and International Naval forces. India is investing heavily in defence and aerospace manufacturing, with several defence hubs being set up. Indian defence PSUs have benefited, besides the companies in the private sector, as they have accumulated tremendously high returns on equities in the past few years, benefiting from the new orders. Notably, many global companies have either shared or shown intent to share critical defence and aerospace knowledge with India. This April, Chief of Defence Staff General Anil Chauhan visited France, further reinforcing the bilateral defence cooperation between the two nations. The interactions of CDS with Patrick Pailloux, Director of Civil and Military Cabinet of the Minister of the French Armed Forces, and Lt Gen Vincent Giraud, Chief of Military Cabinet of the Minister of the Armed Forces at the apex level and also with his counterpart, General Thierry Burkhard have enabled the exchange of views on areas of common interest and mutual security concerns. Deliberations on enhancing the exchange of high-end dual-use technologies, besides discussions with the top leadership of the French Defence industry, including Dassault, Safran and Naval Groups, and Thales Alenia Space, towards futuristic capacity building of the Indian Armed Forces, are expected to provide an impetus to indigenization. India and France had decided to deepen their cooperation in all areas of the space sector by strengthening their programmes of common interest. The India-France Strategic Partnership has gathered significant momentum over time and has now evolved into an even closer and more multifaceted relationship that spans diverse areas of cooperation. In 1998, the two countries upgraded their partnership to a strategic level. To mark the 25th anniversary of the Indo-French partnership, both countries agreed in July 2023 to adopt a roadmap to set the course for the bilateral relationship up to 2047, which will celebrate the centenary of India's independence, the centenary of diplomatic relations between the two countries and 50 years of the strategic partnership. 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Modi, Macron bilateral emphasises furthering India-France defence cooperation; focus on indigenous mfg

Finance Minister Nirmala Sitharaman on Tuesday announced a cut in customs duty on minerals such as lithium, copper and cobalt, which are critical for nuclear energy, renewable and other sectors, to give a fillip to the energy transition. In her budget speech in Lok Sabha, Sitharaman recalled that in the interim budget she had announced a strategy to sustain high and more resource-efficient economic growth, along with energy security in terms of availability, accessibility and affordability. "We will bring out a policy document on appropriate energy transition pathways that balances the imperatives of employment, growth and environmental sustainability," she said. Noting that minerals such as lithium, copper, cobalt and rare earth elements are critical for sectors like nuclear energy, <keyword id="19895602" type="General" weightage="20" keywordseo="renewable-energy" source="keywords">renewable energy</keyword>, space, defence, telecommunications, and high-tech electronics, she proposed to fully exempt customs duties on 25 critical minerals and reduce BCD (basic customs duty) on two of them. This will provide a major fillip to the processing and refining of such minerals and help secure their availability for these strategic and important sectors, she said. She stated that energy transition is critical in the fight against climate change. To support energy transition, she proposed to expand the list of exempted capital goods for use in the manufacture of solar cells and panels in the country. Further, she stated that in view of sufficient domestic manufacturing capacity of solar glass and tinned copper interconnect, I propose not to extend the exemption of customs duties provided to them. Noting that steel and copper are important raw materials and to reduce their cost of production, she proposed to remove the BCD on ferro nickel and blister copper. "I am also continuing with nil BCD on ferrous scrap and nickel cathode and concessional BCD of 2.5 per cent on copper scrap," she said. About the PM Surya Ghar Muft Bijli Yojana, which was rolled out earlier this year, he informed the House that in line with the announcement in the interim budget, PM Surya Ghar Muft Bijli Yojana has been launched to install rooftop solar plants to enable 1 crore households obtain free electricity up to 300 units every month. The scheme has generated remarkable response with more than 1.28 crore registrations and 14 lakh applications, and we will further encourage it, he stated. She further stated that a policy for promoting pumped storage projects will be brought out for electricity storage and facilitating smooth integration of the growing share of renewable energy with its variable &amp; intermittent nature in the overall energy mix. She stated that nuclear energy is expected to form a very significant part of the energy mix for Viksit Bharat. Towards that pursuit, our government will partner with the private sector for setting up Bharat Small Reactors; research &amp; development of Bharat Small Modular Reactor and research &amp; development of newer technologies for nuclear energy, she informed the House. The R&amp;D funding announced in the interim budget will be made available for this sector, she added. The development of indigenous technology for Advanced Ultra Super Critical (AUSC) <keyword id="20421620" type="General" weightage="20" keywordseo="thermal-power" source="keywords">thermal power</keyword> plants with much higher efficiency has been completed, she informed the House. A joint venture between NTPC and BHEL will set up a full-scale 800 MW commercial plant using AUSC technology and the government will provide the required fiscal support, she added. Moving forward, the development of indigenous capacity for the production of high-grade steel and other advanced metallurgy materials for these plants will result in strong spin-off benefits for the economy, she pointed out. A roadmap for moving the 'hard to abate' industries from 'energy efficiency' targets to 'emission targets' will be formulated, she stated adding that appropriate regulations for the transition of these industries from the current 'Perform, Achieve and Trade' mode to 'Indian Carbon Market' mode will be put in place. She further stated that an investment-grade energy audit of traditional micro and small industries in 60 clusters, including brass and ceramic, will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy and implementation of energy efficiency measures. The scheme will be replicated in another 100 clusters in the next phase, she stated. Gaurav Kedia, Chairman, Indian Biogas Association said that the <keyword id="19908389" type="General" weightage="20" keywordseo="Union-Budget" source="keywords">Union Budget</keyword> 2024 has unveiled a roadmap towards a sustainable and resilient India, with agriculture and energy security at its core. It is anticipated that these initiatives will catalyze the growth of the biogas industry, leading to increased rural employment, reduced carbon emissions, and improved soil health, he stated. 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FM cuts customs duty on minerals critical for energy transition

<ul><li>“Our armed forces are always ready to stop any attempt of transgression at our borders,” <keyword id="6355121" type="General" weightage="20" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> told the Lok Sabha. </li><li>Indian and <keyword id="151196" type="General" weightage="20" keywordseo="chinese-troops" source="Orion">Chinese troops</keyword> clashed along the Line of Actual Control (LAC) in <keyword id="12277618" type="General" weightage="20" keywordseo="tawang-sector" source="Orion">Tawang sector</keyword> of Arunachal Pradesh on December 9. </li><li>The face-off resulted in "minor injuries to a few personnel from both sides", the Indian Army said on Monday. </li></ul>Defence Minister Rajnath Singh on Tuesday said that timely intervention by Indian Army stopped the Chinese PLA troops from encroaching on the country's territory during the December 9 face-off at Arunachal Pradesh's Tawang sector. Speaking in the Lok Sabha today, the Defence Minister said that Indian Army bravely stopped the Chinese People Liberation Army (PLA) PLA troops from encroaching on Indian territory, and forced them to withdraw to their posts. "On December 9, 2022 in the Yangtse area of Tawang sector PLA troops encroached upon and attempted to change status quo. This attempt was tackled by our troops in a determined manner. There was fist fight in during this face-off as well. Our troops bravely stopped PLA from encroaching upon our territory and forced them to go back to their post," Defence Minister Rajnath Singh said in the Lok Sabha. The minister said that the issue had been taken up with China through diplomatic channels. "After this incident, on December 11, the local commander of the area held a flag meeting with his Chinese counterpart under the established system and discussed this incident. The Chinese side was refused all such actions and told to maintain peace at the border," Singh told the Lok Sabha. The Defence Minister said that no <keyword id="1052484" type="General" weightage="20" keywordseo="indian-troops" source="Orion">Indian troops</keyword> were killed or seriously injured in the incident. Singh said, "In this face-off, a few soldiers on both sides suffered injuries. I'd like to tell this House that none of our soldiers died or suffered any serious injury. Due to the timely intervention of Indian military commanders, PLA soldiers have retreated to their own locations." "This matter has also been taken up with China through diplomatic channels. I want to assure the House that our forces are committed to guard our borders and ready to thwart any attempt that will be made to challenge it," Rajnath Singh said. "I am confident this House will respect the capability, valour and commitment of our armed forces, Singh said. On Monday the Indian Army in a statement said: "On December 9, PLA troops contacted the LAC in Tawang Sector which was contested by own (Indian) troops in a firm and resolute manner. This face-off led to minor injuries to a few personnel from both sides." "Both sides immediately disengaged from the area. As a follow up of the incident, own (Indian) commander in the area held a flag meeting with his counterpart to discuss the issue in accordance with structured mechanisms to restore peace and tranquillity," it said. Opposition members earlier today created a ruckus in Parliament over the clash between troops of India and China. Soon after Rajnath Singh's statement, Opposition leaders staged a walkout from Lok Sabha.

No loss of life or serious injury to our soldiers: Defence Minister Rajnath Singh on Tawang clash

<ul><li><keyword id="68124" type="General" weightage="80" keywordseo="hal" source="Orion">HAL</keyword> is one of the world’s largest and oldest defence manufacturing companies, and its investors have gotten very rich this year.</li><li>HAL’s rise could also benefit two other defence manufacturers, say analysts.</li><li>The company’s large orderbook, and interest in the <keyword id="763438" type="General" weightage="50" keywordseo="tejas-lca" source="Orion">Tejas LCA</keyword> by six countries has driven the rally in its stock.</li></ul>Defence indigenization has been one of the goals of the current Indian government, with an aim to reduce dependence on foreign countries. But a crucial aspect that gets relatively less airtime is defence exports – and it has made investors of <keyword id="151778" type="General" weightage="50" keywordseo="hindustan-aeronautics" source="Orion">Hindustan Aeronautics</keyword> richer by 75% in 2022 alone. Hindustan Aeronautics Limited (HAL) has been identified by analysts as “the defence Prime” – essentially crowning HAL as the kingpin of the Indian defence sector. According to the analysts at ICICI Securities, HAL’s defence export efforts could also open up export opportunities for two other state-owned defence manufacturers – Bharat Electronics and Bharat Dynamics, thereby helping to expand the Indian defence industrial complex in general. ₹1 lakh invested in HAL at the beginning of 2022 is now worth ₹1.75 lakh. <div type="image" title="HAL 01_01_22 to 08_08_22." msid="93426009" hostid="261" caption="&amp;lt;p&amp;gt;HAL share price in 2022&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="Why is HAL surging?" comment="subhead" text="Why is HAL surging?">Why is HAL surging?</cmsannotation> HAL is in talks with Egypt, Malaysia and Nigeria for defence exports that could amount to over $5.5 billion, with tenders for setting up manufacturing facilities for the <keyword id="6376012" type="General" weightage="80" keywordseo="tejas" source="Orion">Tejas</keyword> Mk1A light combat aircraft, helicopters and maintenance of Malaysia’s <keyword id="51948" type="General" weightage="50" keywordseo="sukhoi" source="Orion">Sukhoi</keyword> fighter jets, among others. The Indian government’s focus on increasing defence indigenization has also helped HAL in securing economies of scale, making its export offers more competitive. This, coupled with the high technical ratings of Tejas, have made it a key contender for bagging contracts from Egypt and Malaysia. According to the company’s latest financials, HAL’s current orderbook stands at ₹82,000 crore – this is 3.3-times the company’s FY22 revenue. Further, it has a strong pipeline of ₹1.24 lakh crore of manufacturing orders over the next three to four years, which will help the company deliver double-digit revenue growth, according to a report by ICICI Direct Research. <cmsannotation type="cmsannotation" annotationid="India’s defence exports: A quick dekko" comment="subhead" text="India’s defence exports: A quick dekko">India’s defence exports: A quick dekko</cmsannotation> In the Defence Production Policy of 2018, the Indian government set out an ambition of hitting $5 billion in annual defence exports by 2025. In 2017-18, India’s defence exports stood at $0.66 billion and have crossed $1.6 billion this year. Its latest major defence deal was for the BrahMos cruise missile with the Philippines, worth $375 million. Some major players in the Indian defence industry include HAL, Bharat Electronics, Bharat Dynamics, Bharat Forge, BrahMos Aerospace, <keyword id="363595" type="General" weightage="50" keywordseo="tata-advanced-systems" source="Orion">Tata Advanced Systems</keyword> and L&amp;T, among others. <cmsannotation type="cmsannotation" annotationid="A Tejas success story" comment="subhead" text="A Tejas success story">A Tejas success story</cmsannotation> Once rejected by the Indian Navy as “too heavy”, Tejas has been one of the success stories of India’s defence indigenization efforts. And now, according to the government, six countries are interested in HAL’s light combat aircraft. The Egyptian air force needs 70 light combat aircraft at an estimated cost of $3 billion. HAL has offered to set up production facilities for the Tejas aircraft and helicopters in Egypt. HAL has already offered the twin-seater variant of the Tejas LCA to Malaysia in a deal worth $1.5 billion, in addition to maintenance of the Russian-origin Sukhoi 30 fighter jets. The Indian government said that the US, Australia and Indonesia have also expressed interest in the Tejas. 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