<ul><li>Orient Technologies is expected to announce its IPO share allotment status on Monday, August 26.</li><li>The shares of Orient Technologies were subscribed 151.68 times.</li><li>The Orient Technologies shares are expected to be listed on the stock exchanges on August 28.</li></ul>Mumbai-based Orient Technologies, an information technology (IT) solutions provider is expected to announce the allotment status of its initial public offering (IPO) on Monday, August 26. The <keyword id="22896588" type="General" weightage="20" keywordseo="Orient-Technologies-IPO" source="keywords">Orient Technologies IPO</keyword> opened on August 21 and closed on August 23. The price band for the Orient Technologies IPO was ₹195 to ₹206 per share. <h2>Orient Technologies IPO subscription status</h2>On its last day, the Orient Technologies IPO was subscribed 151.68 times, receiving bids for 113 crore equity shares against 74.5 lakh shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 189.90 times, the non-institutional investor's portion was subscribed 300.56 times. The retail portion was subscribed 66.82 times. <h2>Orient Technologies IPO Grey market premium</h2>The shares of Orient Technologies are currently commanding a grey market premium (GMP) of ₹70 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. How to check the Orient Technologies IPO’s allotment status You can check the <keyword id="22896589" type="General" weightage="100" keywordseo="Orient-Technologies-IPO-allotment" source="Orion">Orient Technologies IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Orient Technologies IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Orient Technologies’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Orient Technologies IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Orient Technologies IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Orient Technologies’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Orient Technologies shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Orient Technologies IPO allotment status on NSE. <h2>Orient Technologies IPO listing date</h2>The shares of Orient Technologies will be listed on the stock exchanges on August 28. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a> <a href="https://www.businessinsider.in/tech/how-to/how-to-add-music-to-instagram-profile/articleshow/112732934.cms">You can now add music to your Instagram profile – here's how</a> <a href="https://www.businessinsider.in/business/auto/news/audi-q8-facelift-launched-in-india-with-a-1-17-crore-price-tag/slidelist/112707701.cms">Audi Q8 facelift launched in India with a ₹1.17 crore price tag</a>

Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li>Interarch Building Products is expected to announce its IPO <keyword id="21392164" type="General" weightage="20" keywordseo="share-allotment-status" source="keywords">share allotment status</keyword> on Thursday, August 22.</li><li>The shares of Interarch Building Products were subscribed 93.46 times.</li><li>The Interarch Building Products shares are expected to be listed on the stock exchanges on August 26.</li></ul> Noida-based Interarch Building Products, a turnkey pre-engineered steel construction solutions provider is expected to announce the allotment status of its initial public offering (IPO) on Thursday, August 22. The <keyword id="22796690" type="General" weightage="20" keywordseo="Interarch-Building-Products-IPO" source="keywords">Interarch Building Products IPO</keyword> opened on August 19 and closed on August 21. The price band for the Interarch Building Products IPO was ₹850 to ₹900 per share. <h2>Interarch Building Products IPO subscription status</h2>On its last day, the Interarch Building Products IPO was subscribed 93.46 times, receiving bids for 43.85 crore equity shares against 46.92 lakh shares on offer. While the qualified institutional buyer (QIB) portion was subscribed 205.41 times, the non-institutional investor's portion was subscribed 128.35 times. The retail portion was subscribed 19 times. The employee portion was subscribed 23.93 times. <h2>Interarch Building Products IPO Grey market premium</h2>The shares of Interarch Building Products are currently commanding a grey market premium (GMP) of ₹350 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. How to check the Interarch Building Products IPO’s allotment status You can check the <keyword id="22873605" type="General" weightage="100" keywordseo="Interarch-Building-Products-ipo-allotment" source="Orion">Interarch Building Products IPO allotment</keyword> status on the registrar’s website. <ul><li>To check the Interarch Building Products IPO allotment status, visit the registrar’s website<a href="https://linkintime.co.in/initial_offer/public-issues.html"> here</a>. </li><li>Click on ‘Select Company’ and then select ‘Interarch Building Products’. </li><li>Now, enter your PAN, application number, DP / Client ID or Account number / IFSC. </li><li>Click on submit. </li></ul>You will be able to see your Interarch Building Products IPO application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Interarch Building Products IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>. </li><li>On the website, click on 'Equity' and then select ‘Interarch Building Products’ from the dropdown menu. </li><li>Now, enter your application number and PAN. </li><li>Click on 'Search'. </li></ul>You will be able to see the number of Interarch Building Products shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your Interarch Building Products IPO allotment status on NSE. <h2>Interarch Building Products IPO listing date</h2>The shares of Interarch Building Products will be listed on the stock exchanges on August 26. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-gained-over-3-million-subscribers-in-june-vi-lost-nearly-a-million/articleshow/112670406.cms">Reliance Jio and Airtel gained over 3 million subscribers in June, Vi lost nearly a million</a> <a href="https://www.businessinsider.in/tech/mobile/news/the-iphone-pro-models-will-be-made-in-india-for-the-first-time-this-year/articleshow/112653019.cms">The iPhone Pro models will be made in India for the first time this year</a> <a href="https://www.businessinsider.in/stock-market/webstories/orient-technologies-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112646237.cms">Orient Technologies IPO – Price band to risk factors, all you need to know</a>

Interarch Building Products IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li>Three mainboard companies and six SMEs will begin their <keyword id="10012322" type="General" weightage="100" keywordseo="ipos-this-week" source="Orion">IPOs this week</keyword>.</li><li><keyword id="21372622" type="General" weightage="20" keywordseo="Premier-Energies" source="keywords" meta.keywordsubtype="org" meta.entityname="Premier Energies" meta.hostid="261" meta.entityid="Premier Energies">Premier Energies</keyword> is the biggest IPO that is scheduled to begin this week.</li><li>Here’s everything you need to know about the <keyword id="8964554" type="General" weightage="20" keywordseo="upcoming-ipos" source="Orion">upcoming IPOs</keyword> this week.</li></ul>Initial public offerings (IPOs) are gaining steam once again, with three mainboard companies and multiple small and medium enterprises (SMEs) looking to raise funds from the primary market. The three mainboard companies looking to raise funds from the primary market include Premier Energies, <keyword id="22920122" type="General" weightage="20" keywordseo="ECO-Mobility" source="keywords" meta.keywordsubtype="org" meta.entityname="ECO Mobility" meta.hostid="261" meta.entityid="ECO Mobility">ECO Mobility</keyword> and Bazaaar Style Retail. Apart from this, six SMEs will also launch their IPOs this week, with one SME IPO already underway. In this post, we look at the IPOs hitting Dalal Street this week: <h2>Premier Energies</h2>Premier Energies Limited, a Hyderabad-based manufacturer of solar cells and solar panels is the company looking to raise the highest funds this week. The company is looking to raise ₹2,830.4 crore, including a fresh issue of ₹1,291.40 crore and an offer for sale (OFS) component of ₹1,539 crore. The company’s IPO begins on August 27 and ends on August 29. <div type="Article" hostid="261" msid="112747268" title="Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more" mstype="2" mssubtype="0"></div> <h2>ECO Mobility</h2>Eco Mobility, a chauffeur-driven car rental service provider is looking to raise ₹601.20 crore from the market, all of which is an offer for sale and there is no fresh issue of shares. The IPO opens for subscription on August 28 and closes on August 30, 2024. The company offers chauffeur-driven cars and employee transportation services, focusing on corporates. <h2>Baazar Style Retail</h2>Baazar Style Retail Limited, a fashion retailer that operates in West Bengal and Odisha is looking to raise ₹834.68 crore from the primary market, which includes a fresh issue of ₹148 crore and an offer for sale component of ₹686.68 crore. The company’s IPO begins on August 30 and ends on September 3. <h2><keyword id="18638411" type="General" weightage="20" keywordseo="sme-ipos-this-week" source="Orion">SME IPOs this week</keyword></h2>A total of six SMEs are looking to raise funds from the primary market this week. The Indian Phosphate IPO is already underway, and three IPOs will begin on August 27, with one IPO to begin on August 28 and August 29 each. SMEs raising funds from the market include Aeron Composite, Vdeal Systems, Archit Nuwood Industries and more. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/govt-warns-about-fake-sms-warning-users-to-update-their-pan-what-it-is-and-how-to-stay-safe/articleshow/112795812.cms">Govt warns about fake SMS asking users to update their PAN – what it is and how to stay safe</a> <a href="https://www.businessinsider.in/stock-market/news/orient-technologies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/112747268.cms">Orient Technologies IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/webstories/2024-tvs-jupiter-vs-honda-activa-6g-which-110cc-scooter-should-you-buy/slidelist/112730069.cms">2024 TVS Jupiter vs Honda Activa 6G – which 110cc scooter should you buy?</a>

Upcoming IPOs to look out for this week – Premier Energies, ECO Mobility and more

<ul><li>Bengaluru-based IT services company <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> now requires some freshers to clear Project Readiness Programme (PRP) or face termination.</li><li>Wipro has reportedly asked those freshers to undergo the PRP who had agreed to accept a lower package of ₹3.5 lakh per annum compared to ₹6.5 lakh it offered earlier.</li><li>This has attracted the ire of Pune-based union Nascent Information Technology Employees Senate (NITES), whose president has called it ‘unethical, unfair and unjust’.</li><li>Business Insider India has obtained a copy of Wipro PRP that outlines the exact process freshers will have to undergo.</li></ul>Bengaluru-based IT services company Wipro now requires some freshers to clear Project Readiness Programme (PRP) or face termination, according to a document seen by Business Insider India. Wipro will apply PRP to candidates who had opted for a lower package of ₹3.5 lakh per annum, from the initially promised ₹6.5 lakh per annum. For context, Wipro in February slashed the annual compensation for freshers who had already undergone the company’s ‘Velocity’ training programme to ₹3.5 lakh from ₹6.5 lakh per annum. At the time, Wipro blamed the “changing macro environment” and “business needs”. Business Insider India has obtained a copy of the document detailing Wipro’s Project Readiness Programme, which details the contours of the programme. “Project Readiness Programme is a programme offered by Talent Transformation to all campus and off-campus hires referred as NGAs (next-generation associates). The broad objective of PRP is to equip NGA with the necessary knowledge and skills that will enable them to start working on customer projects,” the PRP document says. This has attracted the ire of Nascent Information Technology Employees Senate (NITES), a Pune-based union. “Wipro's actions towards its fresher employees are unethical, unfair and unjust. The company's misleading communication and sudden changes in policy have put the future of these employees at risk,”<a href="https://economictimes.indiatimes.com/tech/information-tech/wipro-asks-freshers-who-opted-for-lower-packages-to-clear-test-or-face-termination-union-alleges/articleshow/99611099.cms"> said</a> Harpreet Saluja, NITES president. Wipro PRP also mandates that every associate in this programme will have to obtain a score of at least 60%. Failure to do so will “lead to separation action with immediate effect”, which means that the fresher will not be given a job by the company. <cmsannotation type="cmsannotation" annotationid="Up to 8 weeks of training" comment="subhead" text="Up to 8 weeks of training">Up to 8 weeks of training</cmsannotation> Wipro PRP involves up to 8 weeks of training, depending on the skillset matching criteria. The company is calling it ‘Technology Readiness Training’ (TRT). In addition to this, all candidates are also required to work on a capstone or business-oriented project for 1-2 weeks. Once completed, candidates will have to present their projects and also answer questions orally. The training programme duration ranges from anywhere between 4 to 8 weeks, with the training done either via e-learning or an instructor. Associates are required to complete their allotted projects during this course, only after which they will be allowed to proceed for the final assessment. <cmsannotation type="cmsannotation" annotationid="Assessment test with negative marking" comment="subhead" text="Assessment test with negative marking">Assessment test with negative marking</cmsannotation> The final assessment consists of multiple-choice questions (MCQ) and logic building programme for programming languages, with both the categories carrying equal weightage. Candidates will get an hour for each category, and MCQs will attract negative marking of 0.25 per question for wrong answers. Only those candidates with a minimum score of 60% marks will be eligible for selection, and those who fail to score 60% will be terminated. All candidates will be given three attempts to clear the programme. Wipro is scheduled to announce its Q4 earnings on April 27. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/rils-q4-performance-keeps-brokerages-bullish-on-the-companys-prospects/articleshow/99725935.cms">RIL’s Q4 performance keeps brokerages bullish on the company’s prospects</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-has-had-a-dream-run-in-fy23-and-heres-why-theres-more-juice-left-in-the-stock/articleshow/99662367.cms">ITC has had a dream run in FY23 and here’s why there’s more juice left in the stock</a>

Wipro wants some freshers to clear this new programme or face termination

<ul><li>Industry estimates show that the Indian fintech industry is likely to reach the $1 trillion mark in throughput and $200 billion in revenue by 2030. </li><li>If the world enters a full-blown recession over the next few quarters, funding to Indian fintechs could be significantly impacted, constricting their growth. </li><li>The future of banking is going to be branchless -the branch would mostly take care of customer interactions and all transactions would go digital.</li></ul>The Indian fintech industry is growing into one of the most important sectors in the country’s economy, as more and more people come online and mobile Internet access becomes nearly ubiquitous. Indian fintech companies have come a long way from the mid-1990s when online banking services were first introduced. The Internet in India was in its infancy back then and hardly anyone had open and free access to the world wide web, as we do now. Cut to 2022, and not only does India have the second-biggest Internet user base in the world, but the country also has one of the most vibrant digital economies. Industry estimates show that the Indian fintech industry is likely to reach the $1 trillion mark in throughput and $200 billion in revenue by 2030. But these projections will depend on two main factors—on how well Indian fintechs can innovate and adapt to the needs of the clientele and the ability of the evolving technology to offer solutions; and on how well the overall economy performs. On the first count, there is little doubt that the Indian fintech sector should be able to innovate and keep pace with emerging global technological trends. Indian fintechs like Paytm have evolved their business models from being largely payments-oriented to now geared towards providing credit and other services like digital gold and mutual funds. The second aspect though may have a greater bearing on the trajectory the Indian fintech sector is likely to take in the months and years ahead. If the world does enter a full-blown recession over the next few quarters, as is being projected, funding to Indian fintechs could be significantly impacted, constricting their growth both in terms of research and development as well as them gaining market share and expanding geographically. In fact, across the world, and in India, venture capital money has already begun drying up, and the fintech sector too could face a funding crunch in the months to come. Thus, the Government’s role is crucial in ensuring the growth and sustainability of the sector. Over the last few years, the government has been supportive and various incentives have been provided to the ecosystem for it to flourish. The last budget brought reforms like digital rupee, digital banking units, and financial services center Gift-IFSC. The sector would look forward to continued support from the Government, especially in the current funding environment. <cmsannotation type="cmsannotation" annotationid="What the industry is looking forward to?" comment="subhead2" text="What the industry is looking forward to?">What the industry is looking forward to?</cmsannotation> Funding support- an increased allocation towards startup funding by Government could provide a boost to the overall sentiments and incentivize the continuity of growth. Retaining employees in such a scenario would be the key to sustaining business growth. A tax relief for startup employees to solve for dual taxation &amp; relief the tax burden that ESOPs have on employees would be critical. Currently, the employees need to arrange funds to buy the stocks and also pay around 35% tax on the allotted shares as it's considered a part of CTC. Also, a more liberal tax and transparent policy regime would be a welcome move. The revised digital lending guidelines restricting the FLDG model have caused a lot of disruption for fintech startups. Their business models had to be tweaked and there is still ambiguity on the guidelines. Startups have been trying to seek clarity here. This has caused a funding crunch on the debt side. FLDG stands for first default guarantee and is an arrangement between a fintech company and a regulated entity, where fintech’s compensate regulated entities for any losses that might occur on account of default by the borrowers. Clarity here would help startups establish a long-term business map and work towards sustainable growth. If no clarity emerges- a debt and equity side funding crunch could lead to the death of a few fintechs in the coming future. Clarity and roadmap for digital banking licenses are important. With an increased demand for consuming financial services digitally- there is a need for such licenses. The future of banking is going to be branchless. The branch would mostly take care of customer interactions and all transactions would go digital. In the wake of this- newer digital-friendly organizations should be issued digital banking licenses. (Mehekka Oberoi is Fund Manager, IIFL Fintech Fund) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/the-union-budget-is-round-the-corner-but-is-your-budget-sorted/articleshow/97370691.cms">The Union Budget is round the corner, but is your budget sorted?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2023-nirmala-sitharaman-has-a-tough-task-to-balance-growth-and-fiscal-prudence/articleshow/97298426.cms">Budget 2023: FM has a tough task to balance growth and fiscal prudence</a>

Budget 2023: Funding support, liberal tax regime and other things fintechs expect from the government

New Delhi, Prosus-owned OLX Group on Monday said it has appointed former <keyword id="421566" type="COMPANY" weightage="20" keywordseo="Star-Sports">Star Sports</keyword> President and CEO <keyword id="1479800" type="PERSON" weightage="20" keywordseo="Gautam-Thakar">Gautam Thakar</keyword> as <keyword id="203686" type="POSITION" weightage="20" keywordseo="global-CEO">Global CEO</keyword> of its pre-owned car marketplace <keyword id="10367965" type="UNKNOWN" weightage="20" keywordseo="Olx-Autos">OLX Autos</keyword> effective March 15 of this year. Thakar will lead a worldwide organisation with a workforce of more than 4,000 employees across Asia, Africa, Latin America, and the US. OLX Autos runs online digital trading platforms in addition to more than 500 inspection centres across the Americas, Asia and Africa, each year inspecting 300,000 vehicles and enabling 130,000 vehicle transactions. "I'm extremely pleased to welcome Gautam as Global CEO of OLX Autos," Martin Scheepbouwer, CEO, OLX Group, said in a statement. "He brings a unique set of capabilities to this exciting opportunity including an exceptional general management track record, strong customer orientation, deep marketplace experience, and a rich experience leading and inspiring teams on a global footprint." Most recently, Thakar was CEO of Star Sports in India which was acquired by the Walt Disney Company. Prior to that Thakar was in the US for over a decade and brings leadership experience in digital marketplaces as former global CEO of Shopping.com and LivingSocial acquired by <keyword id="384914" type="COMPANY" weightage="20" keywordseo="Groupon">Groupon</keyword>. Thakar was a part of the founding <keyword id="404408" type="ORGANIZATION" weightage="20" keywordseo="management-team">management team</keyword> of baazee.com which pioneered e-commerce in India before being acquired by eBay in 2005. "I am delighted with the opportunity and responsibility to lead the impressive global OLX Autos team. I've long watched the bold and ambitious approach taken by <keyword id="6356837" type="COMPANY" weightage="20" keywordseo="naspers">Naspers</keyword> and Prosus as they've built great companies in so many exciting markets, including India," Thakar said on his appointment. "OLX Group's commitment to this business is unparalleled and I am inspired to join the team to build the world's most trusted platform for buying and selling cars." He will remain based in India in his new global role. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/discounts-have-dropped-lower-on-the-customer-priority-list-say-indian-online-retailers/articleshow/81145830.cms">Discounts have dropped lower on the customer’s priority list, say Indian e-tailers</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-railtel-ipo-share-allotment-status-online/articleshow/81145120.cms">Indian Railways owned RailTel’s IPO: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/politics/india/news/puducherry-government-falls-as-chief-minister-v-narayanasamy-loses-trust-vote-in-assembly/articleshow/81148119.cms">Puducherry government falls as Chief Minister V Narayanasamy loses trust vote in Assembly</a> <a href="https://www.businessinsider.in/careers/news/deutsche-bank-plans-to-hire-1000-freshers-in-india-as-it-looks-to-build-core-technologies-in-house/articleshow/81147886.cms">INTERVIEW: Deutsche Bank plans to hire 1,000 freshers in India as it looks to build core technologies in-house</a> <a href="https://www.businessinsider.in/finance/banks/news/analysts-reports-showed-that-90-percent-of-unsecured-retail-loans-have-gone-to-salaried-government-employees/articleshow/81150110.cms">One in every five rupees lent by SBI to individuals, goes to government employees</a>

Star Sports President Gautam Thakar appointed Global CEO of OLX Autos

<ul class="summary-list"><li>The supply chain crisis is one of 2021's biggest stories, but it can be traced back to the last decade.</li><li>The US-China "<keyword id="12277786" type="UNKNOWN" weightage="60" keywordseo="trade-war" source="Orion">trade war</keyword>" of the Trump years included <keyword id="12002670" type="UNKNOWN" weightage="60" keywordseo="semiconductor-chips" source="Orion">semiconductor chips</keyword> - the exact shortage crippling the world's <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword>.</li></ul>The holidays are coming, and that <a href="https://www.businessinsider.com/more-expensive-goods-supply-shortage-congested-shipping-ports-texas-freeze-2021-3">supply-chain crisis</a> you may have heard about is going to make shopping miserable.Hundreds of thousands of ships full of imported goods from Asia are <a href="https://www.businessinsider.com/shipping-containers-stuck-california-ports-combat-shortages-2021-9">piled up outside of Los Angeles</a> and other major ports. <a href="https://www.businessinsider.com/why-is-there-chip-shortage-car-companies-electronics-supply-chain-2021-2">American automakers don't have enough semiconductor chips</a> to make as many cars as people want to buy. Every other product - from toys to computers - that needs a chip will be in short supply, too.What's often overlooked is that official US government policy is oriented around making these exact chips harder for <keyword id="11892748" type="UNKNOWN" weightage="60" keywordseo="china" source="Orion">China</keyword> to manufacture. US President <keyword id="99719" type="UNKNOWN" weightage="60" keywordseo="joe-biden" source="Orion">Joe Biden</keyword> is continuing a "<a href="https://www.businessinsider.com/trump-trade-war-will-make-these-products-more-expensive-2018-6">trade war</a>" with his Chinese counterpart, Xi Jinping, that began under <keyword id="11914386" type="UNKNOWN" weightage="60" keywordseo="donald-trump" source="Orion">Donald Trump</keyword>, and he's not blinking as the supply-chain crisis endangers Christmas.The ships-and-chips crisis is another way America and China are on the verge of "decoupling,"as the Trump-era trade war hardens into a new status quo. People hoping for an easier holiday shopping season are overlooking how long and painful this transition could be. <h2>The US-China trade war has left the US short on electronics and cars</h2>The US <a href="https://www.semiconductors.org/wp-content/uploads/2020/09/Government-Incentives-and-US-Competitiveness-in-Semiconductor-Manufacturing-Sep-2020.pdf">accounts for just 12%</a> of global chip production, and Asia accounts for a whopping 75%. according to a<a href="https://www.semiconductors.org/wp-content/uploads/2020/09/Government-Incentives-and-US-Competitiveness-in-Semiconductor-Manufacturing-Sep-2020.pdf"> report</a> from the Semiconductor Industry Association, which projects China becoming the largest chip producer by 2030.But Donald Trump ran on a largely anti-globalization platform in 2016, with a particular focus on how America is getting "ripped off" by China. Chips were an area of leverage.China isn't just an exporter of chips, it also needs a steady supply of particularly sophisticated integrated circuits from other countries, including the US, to fuel its consumer electronics manufacturing machine. In the past decade, China has been importing more and more chips from the US, because it needs to insert them into electronic products that get shipped back around the world.<iframe title="US semiconductor exports to China" id="datawrapper-chart-Pq8kj" src="https://datawrapper.dwcdn.net/Pq8kj/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% ; border: none;" height="450"></iframe>China is generations behind in making the most cutting-edge chips. For instance, the world's largest semiconductor firm, Taiwan Semiconductor Manufacturing Corporation (TSMC), is developing ultra-small chips of 3-nanometers and smaller. China's largest chip firm, Semiconductor Manufacturing International Corporation (SMIC), just began making 14-nm chips in late 2019.The US is determined to make China's manufacturing efforts difficult.Last September, the Trump White House <a href="https://www.businessinsider.com/china-chipmaker-smic-us-sanctions-2020-9">imposed export restrictions</a> on SMIC, forcing it to source parts elsewhere and reconfiguring supply chains in the process.Meanwhile, companies <a href="https://www.reuters.com/article/us-autos-tech-chips-focus/trumps-china-tech-war-backfires-on-automakers-as-chips-run-short-idUSKBN29K0GA">buying their chips from SMIC</a> had to go elsewhere, only to find that alternative chipmakers were <a href="https://www.wsj.com/articles/tsmc-to-spend-up-to-record-28-billion-in-advanced-chips-capacity-11610623587">already at full capacity</a>. America struggled to rely on its own production, as lead US semiconductor giant Intel struggled with <a href="https://www.businessinsider.com/intel-delay-chip-production-stock-plunges-2020-7">its own production problems</a>. And some firms have been hoarding chips, <a href="https://www.taiwannews.com.tw/en/news/4306366">claims TSMC's CEO Mark Lui</a>, making the chip crunch even worse. The Biden administration has been <a href="https://www.businessinsider.com/reviews/out?u=https%3A%2F%2Fwww.wsj.com%2Farticles%2Fu-s-enlists-allies-to-counter-chinas-technology-push-11614524400">enlisting its allies</a> to freeze China out from the technological equipment it needs, making sourcing even harder for the country.This all happened after the pandemic shut down semiconductor manufacturing operations for months in 2020, leading to spikes in the prices of new and used cars and shortages of all kinds of electronics.<iframe title="Price inflation for new and used cars" id="datawrapper-chart-mDKj6" src="https://datawrapper.dwcdn.net/mDKj6/1/" scrolling="no" frameborder="0" style="width: 0; min-width: 100% ; border: none;" height="450"></iframe><h2>Biden isn't changing course</h2>Those hoping for the Biden administration to reject Trump's playbook have been sorely disappointed. The president has done little to alter his predecessor's aggressive trade stance since taking office eight months ago. Katherine Tai, the US trade representative, confirmed the tough policy would continue in a Monday speech."For too long, China's lack of adherence to global trading norms has undercut the prosperity of Americans and others around the world," she said in a speech at the Center for Strategic and International Studies, adding it's "increasingly clear" that China hasn't addressed the US's concerns.Biden said earlier this year the key to navigating the current chip shortage crisis is to invest in the country's chip production, allotting $50 billion in his infrastructure plan for domestic chip manufacturing incentives. "The plan I propose will protect our supply chain and revitalize American manufacturing," he said in April, <a href="https://www.nbcnews.com/business/business-news/biden-auto-executives-chip-makers-meet-bid-solve-crippling-shortages-n1263847">during a virtual summit</a> with auto executives and other business leaders. Of course, Biden was talking about "our supply chain" - meaning an American one - and not the globalized "<a href="https://www.businessinsider.com/what039s-next-for-chimerica--2013-7">Chimerica</a>" supply chain of the early 2000s.The Biden administration recently made countering China the centerpiece of its foreign policy agenda, <a href="https://www.businessinsider.com/biden-cia-director-creates-new-unit-focus-key-rival-china-2021-10?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+businessinsider%2Fthelife+%28The+Life%29+Life%29">even reorganizing the CIA</a> to make China a principal focus. The CIA described the country as a "key rival."The transition to homegrown chip production will be more easily said than done. American manufacturers aren't used to expensive American labor, so they'll need time to wean off foreign contract manufacturers, <a href="https://www.vox.com/recode/22336388/gm-chip-shortage-ford-semiconductors-biden">Recode</a> noted. Meanwhile, it can take years to get new production facilities off the ground.Americans, then, are set to endure a lengthy standoff. A JPMorgan note on Friday by a team led by Jahangir Aziz stated that US-China trade tensions are set to remain a "palpable risk," as China is in the midst of an "economic-policy regime shift" and "intensified US-China tension since 2018 has entered a relative freeze."Speaking on Friday after a disappointing jobs report underscored the difficulties facing the economic recovery, Biden advocated again for his infrastructure plan, which is struggling to make its way through Congress.He stressed the need for America to regain leadership and become more "competitive," and he highlighted one country outcompeting and outspending America on its infrastructure and economy: <a href="https://www.whitehouse.gov/briefing-room/speeches-remarks/2021/10/08/remarks-by-president-biden-on-the-september-jobs-report/">that country was China</a>. That could mean a lot more lean Christmases.

The supply-chain disaster that is eating Christmas is being driven by a Biden-Xi conflict that many are overlooking

<ul><li>Indian casual dining chain <keyword id="361005" type="PERSON" weightage="20" keywordseo="Barbeque-Nation">Barbeque Nation</keyword> Hospitality’s initial public offering (<keyword id="6354763" type="UNKNOWN" weightage="20" keywordseo="ipo">IPO</keyword>) issue starts today (March 24).</li><li>The company, which operates the Indian restaurant chain Barbeque Nation and Italian chain Toscano, is looking to raise ₹180 crore from fresh issue of shares.</li><li>Analysts are betting on the company’s growth over the years, its presence across India and its dominance in the Indian cuisine hospitality market.</li></ul>Indian casual dining chain Barbeque Nation Hospitality’s initial public offering (IPO) starts today (March 24). Barbeque Nation’s IPO follows the successful public market offerings of companies in the food sector in India – Burger King and Mrs Bector’s. The company, which operates the Indian restaurant chain Barbeque Nation and Italian chain Toscano, is looking to raise ₹180 crore from fresh issue of shares and an offer for sale up to 54.5 lakh shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"><colgroup></colgroup><col /><col /><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue opens </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 24 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue closes </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">March 26 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹498-500 per share </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market lot </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30 shares </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Minimum order value </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹15,000 </td></tr></tbody></table> And analysts are betting on the company’s growth over the years, its presence across India and its dominance in the Indian cuisine hospitality market. <cmsannotation type="cmsannotation" annotationid="A name to reckon with" comment="subhead" text="A name to reckon with">A name to reckon with</cmsannotation> Barbeque Nation is not a new name in the industry. From presence in top metros to smaller cities, the restaurant chain is quite popular across the country. The company has grown from a single outlet in 2008 to over 160 restaurants across 77 cities in India and six international restaurants. “One of the main contributors to the brand affinity of Barbeque Nation Restaurants has been referrals and recommendations by its customers, which has enabled it to retain a strong market position whilst steadily expanding across India in a fragmented and highly competitive industry,” said a report by HDFC Securities. But Barbeque Nation is a pioneer in the buffet concept which remains a hit among the crowds. “Their fixed price ‘all you can eat’ concept at their Barbeque Nation Restaurants offers their customers a varying spread of consistently delicious food at a value-oriented price in a pleasant and casual dining environment,” said a report by Axis Capital. <cmsannotation type="cmsannotation" annotationid="Adapted to COVID-19 quickly" comment="subhead" text="Adapted to COVID-19 quickly">Adapted to COVID-19 quickly</cmsannotation> With the COVID-19 pandemic and the subsequent nationwide lockdown, Barbeque Nation saw its business being completely shut in April and May, last year. But, the company innovated to bring about a new delivery offering – Barbeque in a Box and launched it in June 2020. In an interview with Business Insider, Rahul Agrawal, chief executive officer of Barbeque Nation, had said that the delivery business is already contributing in double digits to its total revenue. According to the HDFC Securities report, as of December 31, 2020, the average rating of Barbeque Nation Restaurants on an online food aggregator was 4.38 out of 5.00. <cmsannotation type="cmsannotation" annotationid="Proven track record but losses are worrying" comment="subhead" text="Proven track record but losses are worrying">Proven track record but losses are worrying</cmsannotation> Barbeque Nation’s revenue has grown consistently over the years, but its mounting losses are also a cause of concern. <div type="image" title="BBN Losses (1)" msid="81662676" hostid="261"></div> While in April and May (of 2020) there was barely any business, eventually, the company claims that the growth started from June and by November (of 2020), their business was at 84% of 2019’s November numbers. Barbeque Nation in a pre-IPO round raised ₹150 crore from Xponentia Capital, founded by private equity veteran Ajay Relan, and Jubilant Foodworks, the parent company of Domino’s Pizza in India. It is also backed by CX Capital, a PE firm, and Alchemy Capital, the investment firm headed by ace stock market expert Rakesh Jhunjhunwala. <cmsannotation type="cmsannotation" annotationid="Expansion will help" comment="subhead" text="Expansion will help">Expansion will help</cmsannotation> As things stabilise, the company also plans to get back to its expansion plans, having more than doubled from 80 restaurants in FY17 to over 160 restaurants now. “We will also focus majorly on the new delivery vertical,” Agrawal had told Business Insider. “Increasing their penetration in existing cities with a greater number of restaurants will enable them to access new catchment areas within these cities and optimise their infrastructure usage,” said the Axis Capital report. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-nazara-technologies-ipo-allotment-status-online/articleshow/81650995.cms">Nazara Technologies IPO – Here’s how you can check the share allotment status</a> <a href="https://www.businessinsider.in/stock-market/news/barbeque-nation-ipo-to-raise-180-crore-by-selling-54-5-lakh-shares/articleshow/81626158.cms">With an IPO on its plate, Barbeque Nation hopes to clear off some of its debt and double down on not just dining but its new delivery business</a>

Barbeque Nation IPO opens today – the company will be counting on its popularity and presence in India

India has been elected to the Security Council with an <keyword id="9419966" type="UNKNOWN" weightage="20" keywordseo="overwhelming-majority">overwhelming majority</keyword> of 184 votes running on a platform of fighting terrorism and promoting the ethos of "Vasudhaiva Kutumbakam" -- the world is one family. Wednesday's elections took place against the backdrop of the conflict in Ladakh with China, whom it will join on the Council in January. New Delhi won the Asia Pacific seat on the highest decision-making body of the UN with the unanimous support of the countries in the 55-member group, with China and Pakistan, at least openly, conceding support in face of overwhelming backing for India from the others. Though India ran unopposed from Asia, eight countries apparently did not vote for India in the secret ballot in which 192 of the 193 member nations participated. After the vote, India's Permanent Representative T.S. Tirumurti acknowledged the said in a video statement, "We are confident in the COVID and post-COVID world, India will continue provide leadership and a new orientation for a reformed multilateral system." "Our election to the United Security Council is a testament to Prime Minister (Narendra) Modi's vision and his inspiring global leadership," he added. India will serve its eighth two-year term as a non-permanent member without veto powers, even as it pursues on a parallel track UN reforms aimed at getting a permanent seat. India will replace Indonesia, whose term ends at the end of the year, on the Council and join Vietnam as one of the two non-permanent Asian members. Running unopposed for the seat for Latin American and Caribbean countries, Mexico won with 187 votes. The ten non-permanent Security Council seats are distributed among five regional groups and elections are held every year for the five that fall vacant on alternate years. But there were contested elections for the three other seats. Canada was routed in its bid for one of the two seats allotted to the group made up of West European countries and others like Canada and Australia that do not fit in elsewhere. In a setback to Prime Minister Justin Trudeau who personally campaigned hard for the seat, it received only 108 votes. Norway with 130 votes and Ireland with 128 were elected to the two seats. Neither Kenya nor Djibouti received a two-thirds majority and a runoff is to be held later. Kenya, which received 113 votes for the African seat had the endorsement of the continent's countries, while Djibouti which counted on a rift between the Arab and Non-Arab nations in the group received 78 votes. In a last-minute pitch, Tirumurti said in a video message, "India's presence in the Security Council will help bring to the world our ethos that the world is one family -- Vasudhaiva Kutumbakam." In a campaign document unveiled by External Affairs Minister S. <keyword id="236448" type="PERSON" weightage="20" keywordseo="Jaishankar">Jaishankar</keyword> in New Delhi, India laid out a "5S" approach of Samman (Respect), Samvad (Dialogue), Sahyog (Cooperation) Shanti (Peace) and Samriddi (Prosperity) for its service on the Council. The document setting out India's agenda said that a reformed multilateralism is a must for the post-COVID19 era. Besides fighting terrorism, a priority for India, which historically the largest contributor peacekeeping operations, that the document listed was streamlining UN peacekeeping to "ensure greater clarity, direction, and professionalism." While addressing the abuse of technology by terrorists, the document said that technology must be promoted with "a human touch" and India will promote partnerships to harness it to reduce human suffering and build resilient communities. "India will become a member of the Security Council at a critical juncture," Tirumurti said. India will step into a Council Chamber paralysed by the polarisation of its veto-wielding permanent members that almost harks back to the <keyword id="24525" type="ENTERTAINMENT" weightage="20" keywordseo="cold-war">Cold War</keyword> era. It will have to deftly deal with intractable issues like the Syrian civil war with international dimensions, Ukraine's disputes with Russia, the US -- or President Donald Trump's -- obsession with <keyword id="41896" type="LOCATION" weightage="20" keywordseo="Iran">Iran</keyword> or its fallout and Yemen where the UN has not been able to act because of the standoff between the West and Russia and China. But at least when China tries to bring up the Kashmir issue in the Council as it has done twice recently, India will be right there. In elections held simultaneously, Volkan Bozkir, a Turkish diplomat and politician who ran unopposed, was chosen president of the next session of the General Assembly that starts in September. Eighteen countries that ran unopposed for as many seats on the Economic and Social Council (ECOSOC) were also elected. India's last term on the Security Council was in 2011-12 and Hardeep Singh Puri, who was then India's Permanent Representative and is now a minister, immediately afterwards planned to bid for its next term not wanting a long gap like the 19 years since the previous 1991-92 tenure. Intense diplomacy by him and his successor, Asoke Mukerji, sealed India's bid for the 2021-22 term. Afghanistan had initially expressed interest in running for the 2021-22 term but did not pursue it, leaving the field for India. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/not-only-india-hong-kong-taiwan-vietnam-and-japan-also-facing-chinese-army-aggression-on-border-issue/slidelist/76418800.cms" data-type="tilCustomLink">China’s aggression isn’t only aimed at India — but at least four other countries in the region</a> <a href="https://www.businessinsider.in/defense/news/difference-between-india-and-china-military-expenses-soldiers-number-aircrafts-tanks-and-missiles/articleshow/76421399.cms" data-type="tilCustomLink">The strength of India and China’s defence forces compared</a>

India elected to United Nations Security Council with overwhelming majority

This appraisal season, Indian companies are in no mood of sparing their underperformers, especially after Wipro sacked about 600 people following a <a href="http://www.businessinsider.in/small-business/tech/wipro-sacks-600-employees-post-performance-appraisal/articleshow/58283452.cms">'rigorous performance appraisal'</a>. While Indian IT firms, financial services companies, startups and BPOs will be leading this race in being aggressive with the firing process, other sectors would also be following the same path so that they can only have the best of manpower. "Going forward, the trend will be a lot more around performance-orientation," S Venkatesh, president group HR at RPG Enterprises, told <a href="http://economictimes.indiatimes.com/news/industry/jobs/companies-take-tougher-stand-on-poor-performers/articleshow/58350223.cms">ET</a>. "People are negotiating hard: whether it's while being hired off campus or while changing jobs. Naturally, companies, too, are taking a hard line on slips in their performance," he said. RPG Enterprises owns companies like <a href="http://www.businessinsider.in/markets/Tyre-stocks-are-on-fire-today-Know-why/articleshow/48343583.cms">CEAT</a>, KEC International Zensar Technologies, and has a tendency of putting employees on performance improvement plans if need be. "The days when people joined a company only to retire from it are over," said Venkatesh. Other than performance, reduction in <a href="http://www.businessinsider.in/careers/exclusive-salary-budgets-are-slowing-down-and-there-is-going-to-be-a-dip-in-appraisals-as-per-this-report/articleshow/57287938.cms">budgets allotted for salaries</a> can also be cited as a reason behind these aggressive firing policies. In the recent past, IT majors like Infosys, TCS and Cognizant along with banks like Axis Bank and ICICI Bank have fired a large number of employees. Similarly, e-commerce companies like <a href="http://www.businessinsider.in/retail/e-commerce/Flipkart-may-handover-pink-slips-to-nearly-700-employees/articleshow/53446176.cms">Flipkart</a> and Snaodeal have also followed the path of firing nonperforming employees. Also read: <a href="http://www.businessinsider.in/Snapdeal-asks-200-employees-to-improve-or-resign/articleshow/51135067.cms">Snapdeal asks 200 employees to shape up or ship out; employees choosing latter over ‘impossible’ targets</a> However, experts are of the view that Indian companies are relatively more easygoing when it comes to firing employees, as compared to their global counterparts.

This performance appraisal period is about underperformers as well

<img class="gwt-Image" src="/photo/51057235.cms" />

	 
	Considering the massive military modernization, OROP commitments and implementation of Seventh Pay Commission a hike is warranted in allocation in the upcoming Budget 2016 for Defense sector. 
	 
	Post the Gurdaspur and Pathannkot attack, the army’s main focus has been on border management. At present, it is more manpower oriented rather than technological. The border management needs a complete overhaul making it more dependent on state of the art technology. A lesson needs to be learnt from Israel whose border management is mainly monitored through technology and less on manpower. The internal security duties and frequent deployment for natural disasters too need to prepare a lot. 
	 
	More autonomy for Airforce? 
	 The air force is still dependent on the bureaucratic hurdle of getting the <keyword id="6381048" type="ORGANIZATION" weightage="20" keywordseo="Rafale">Rafale</keyword>. Even after the decision of buying the 36 fighters off the shelf, the negotiations are still on. It was expected to be signed during the visit of French President on republic day, but didn’t. The good news though is about the spectacular performance of home made Tejas at the recently completed Bahrain Air Show. Tejas, a 4.5 generation aircraft like Rafale, has always been insufficiently funded by the government and undermined by the IAF with periodic rewriting of ASRs. 
	 
	<keyword id="6355100" type="ORGANIZATION" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> 
	 
	The Navy showcased its growing supremacy at the recently concluded International Fleet Review (IFR). The Navy has emerged as an effective tool of Indian diplomacy in past years, making it imperative for policy-makers to redefine the role of the nation’s naval forces in Indian strategy. The Indian Navy’s role is now changed from being local sea control and shore defense orientation, to a more aggressive naval posture. India needs blue water navy not only to meet emerging naval threats from Pakistan and China. It also has to safeguard strategic location at the center of the Indian Ocean as well as to protect its extensive exclusive economic zone. 
	 
	The Indian Navy also has a 15-year plan to achieve full indigenization in all phases of warship construction as a part of Make in India campaign. But it’s a real long time and the Navy to maintain its supremacy in Indian Ocean and to withstand the rising Chinese Navy’s ambition, still needs Submarines, Frigates and helicopters. 
	 
	Make in India 
	 
	Make in India has led to a lot possibilities for private partnership in defense which can bolster manufacturing sector. In a significant boost for the Indian Air Force, Phil Shaw, chief executive of Lockheed Martin India Private Ltd said "We are ready to manufacture F-16 in India and support the Make in India initiative," at the Singapore Airshow 2016. There have been lots of interesting deals that have been signed under Make In India campaign recently: 
	 
	1) BAE Systems to partner with Mahindra for assembling &amp; testing M777 howitzers 
	 
	2) Bharat Forge forms joint venture with Rafael; to manufacture high-tech defence components 
	 
	3)Mahindra, Airbus sign pact to form joint venture for military helicopters 
	 
	Defense allocation: India versus its neighbours 
	 In the neighborhood, Pakistan's defense budget has consistently been getting an almost double-digit growth meanwhile China maintains a defense budget which is three times the size of India. China’s dangerous adventures can gauged from the recent news that is has deployed surface-to-air missiles (<keyword id="694687" type="PERSON" weightage="20" keywordseo="SAMS">SAMs</keyword>) near a Chinese-held feature in the Paracel Island group. As reported by Fox News the missile deployment, based on analysis of satellite imagery; the news has since been confirmed by both the U.S. Department of Defense and Taiwan’s Ministry of National Defense (MND). 
	 
	Incidents of border stand-offs in the North and claiming of Aksai Chin are major irritants. Besides, India's traditional strategy to combat insurgency and terrorism remains military oriented. Combined with the ambition to extend our maritime sphere of interest, these potential threats will require India to give a boost in its defense spending. 
	 
	Looking at India’s neighborhood scenario the government needs to take a call whether it can or cannot hike the defense spending. Our defense strategy should be based on therealities of the money this government can actually spend. 
	 One also needs to look in to the fact that continued government’s fiscal deficit targets and the need to increase the budget allotment on Education, Health and policies for the poor farmers will also be deciding a factor if this Government can actually spend more than 2% of its <keyword id="35050" type="CITY" weightage="20" keywordseo="gdp">GDP</keyword> on defense. 
	 
	The article has been authored by defense analyst Sunil Rampore, who works as a leading consultant in defense and aerospace industry. 
	 
	Image Credit: Indiatimes.com

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