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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

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

<ul><li>A joint venture between India and Russia has delivered 35,000 <keyword id="22298953" type="General" weightage="100" keywordseo="AK-203-rifles" source="keywords">AK-203 rifles</keyword> to the <keyword id="19908736" type="General" weightage="20" keywordseo="Indian-Army" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian Army" meta.hostid="153" meta.entityid="Indian Army">Indian Army</keyword>.</li><li>The AK-203 rifles are being produced at the Korwa Ordnance Factory in Amethi.</li><li>The project includes technology transfer and 100% localisation of the AK-203 production.</li></ul> Ahead of Prime Minister Narendra Modi's visit to Russia, Indo-Russian Rifles Private Limited (IRRPL), a joint venture (JV) between India and Russia, has announced the successful delivery of 35,000 AK-203 assault rifles to the Indian Army. The production of these rifles has been deployed in India in full compliance with the <keyword id="20018809" type="General" weightage="20" keywordseo="Make-in-India" source="keywords">Make in India</keyword> and <keyword id="20769798" type="General" weightage="20" keywordseo="Atmanirbhar-Bharat-Abhiyaan" source="keywords">Atmanirbhar Bharat Abhiyaan</keyword> programmes. The project includes technology transfer and 100% localisation of the AK-203 production. The Indo-Russian Rifles Private Limited joint venture, co-founded by <keyword id="22300656" type="General" weightage="20" keywordseo="ROSOBORONEXPORT" source="keywords" meta.keywordsubtype="org" meta.entityname="ROSOBORONEXPORT" meta.hostid="153" meta.entityid="ROSOBORONEXPORT">ROSOBORONEXPORT</keyword> on the Russian side, has completed the first phase of the project to produce AK-203 Kalashnikov assault rifles in India. To increase the degree of localisation, all necessary equipment has been shipped to the Korwa Ordnance Factory in Amethi, Uttar Pradesh, and production facilities are now fully equipped, emphasised Alexander Mikheev, Director General of ROSOBORONEXPORT. This made it possible to produce and deliver a batch of 35,000 Kalashnikov assault rifles to the Indian Army within the timeframe agreed with the Ministry of Defence of India, he added. The Kalashnikov AK-203 assault rifle is a version of the AK-200 rifle chambered for the 7.62x39mm cartridge used in the Indian Army. The weapon has the traditional advantages of Kalashnikov assault rifles, which are reliability and ease of maintenance. The Indian government in 2021 had approved the plan to manufacture 5 lakh AK-203 rifles in UP's Amethi. The rifle is intended to replace the INSAS rifle that was inducted over three decades ago. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi prepaid plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-razr-50-ultra-flip-phone-launched-in-india-for-99999/slidelist/111504950.cms">Motorola Razr 50 Ultra flip phone launched in India for ₹99,999</a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a>

India-Russia joint venture delivers 35,000 AK-203 rifles to Indian Army

Washington, The <keyword id="6356955" type="General" weightage="20" keywordseo="united-states" source="Orion">United States</keyword> is in active talks with the Indian government to look at producing military systems in areas related to ISR and ground-based conventional warfare, a senior <keyword id="6362444" type="General" weightage="80" keywordseo="pentagon" source="Orion">Pentagon</keyword> official said. Efforts are also on to establish a reciprocal <keyword id="32723" type="General" weightage="80" keywordseo="defence" source="Orion">defence</keyword> procurement agreement with India, Siddharth Iyer, Director for <keyword id="4860065" type="General" weightage="50" keywordseo="south-asia-policy" source="Orion">South Asia Policy</keyword>, Office of the Secretary of Defence said here on Tuesday at an event organised by the prestigious <keyword id="191756" type="General" weightage="50" keywordseo="hudson-institute" source="Orion">Hudson Institute</keyword>. "We are in active talks with the Indian government to look at producing military systems in areas related to ISR (Intelligence, Surveillance and Reconnaissance), and then of course ground-based conventional warfare. And we'll have more to say on that as they become ripe," he said. Indian-American Iyer said the talks between India and the US to finalise the security of supply arrangement, which would streamline the ability of defence firms to procure their requirements, is making good progress. "We are also moving at an aggressive clip to establish a reciprocal defence procurement agreement, which would allow and create the conditions for US and Indian defence industries to increase and streamline market access," he said. This relationship is one of the top priorities for the Pentagon, Iyer said. "Our belief is that getting the US-India relationship right is not just necessary, it's essential to achieving our strategy in the Indo-Pacific. There's a broad and deep commitment to making that happen," he said. "I think one of the ways in which we think about the road map is really a manifestation of (Defence) Secretary (Loyd) Austin's commitment to accelerating India's military modernisation, and for him, putting the department on the hook to find targeted opportunities to propose to advance India's indigenous defence production capabilities," he said. The India-US defence road map, Iyer said, among other things, identifies the priority military areas where their industries should focus their collaborative efforts. It identifies some concrete mechanisms by which they can work together to integrate the supply chains. And then ultimately, it also establishes the oversight mechanism to ensure that bureaucratic logjams and regulatory barriers don't impede progress. "On some of the concrete initiatives, I think the GE engine deal has received some of the most attention in the press," Iyer said. "I think it is a testament to the significance of the deal. Certainly, it's an arrangement between private companies but the governments had to work extremely closely with each other, with industry and we had to take a really holistic view about how we think about technology security and what it means to advance our strategic interest and balance tech security and US national security requirements to make this come about," he said. The deal provides India access to jet engine technology that is some of the most sensitive military technology available to the US and what many consider to be a crown jewel, he said. "In the months ahead, I expect we are going to make progress on a number of different fronts," Iyer said.

US in active talks with India to look at producing military systems, says Pentagon official

<keyword id="19895045" type="General" weightage="20" keywordseo="Singapore" source="keywords">Singapore</keyword>, September 5 (ANI): <keyword id="2504197" type="General" weightage="20" keywordseo="India-and-Singapore" source="Orion">India and Singapore</keyword> elevated their <keyword id="20009959" type="General" weightage="20" keywordseo="bilateral-relations" source="keywords">bilateral relations</keyword> to the level of <keyword id="20564653" type="General" weightage="20" keywordseo="Comprehensive-Strategic-Partnership" source="keywords">Comprehensive Strategic Partnership</keyword>, on Thursday, during the visit of <keyword id="19898052" type="General" weightage="20" keywordseo="Prime-Minister-Narendra-Modi" source="keywords">Prime Minister Narendra Modi</keyword>. Prime Minister Modi and Singapore PM <keyword id="20610066" type="General" weightage="20" keywordseo="Lawrence-Wong" source="keywords">Lawrence Wong</keyword> met at the Parliament House in Singapore on Thursday. The two leaders, along with their delegations, held the bilateral meeting. Following this, the two sides exchanged four MoUs in the areas of digital technology, semiconductor, skill development and healthcare. Prime Minister Modi invited PM Lawrence Wong to visit India, which he accepted. At their talks, both leaders reviewed the progress of India - Singapore bilateral relations. "Given the breadth and depth of bilateral ties and immense potential, they decided to elevate the relationship to a Comprehensive Strategic Partnership. This would also give a major boost to India's Act East Policy," the Ministry of External Affairs said in a statement. Taking stock of the robust progress in <keyword id="20900218" type="General" weightage="20" keywordseo="economic-ties" source="keywords">economic ties</keyword>, the leaders called for further expanding <keyword id="20344229" type="General" weightage="20" keywordseo="trade-and-investment" source="keywords">trade and investment</keyword> flows between the two countries. Prime Minister highlighted that Singapore, with an investment of around USD 160 billion in the Indian economy, is a leading economic partner for India. He further noted that rapid and sustained growth in India has opened up immense investment opportunities for Singaporean entities. The two leaders also reviewed existing cooperation in the fields of defence and security, maritime domain awareness, education, AI, Fintech, new technology domains, science and technology, and knowledge partnership. They further called for strengthening connectivity between the countries to enhance economic and people-to-people ties. They also called for acceleration in green corridor projects. PM Modi and PM Wong also discussed the outcome of the 2nd India - Singapore Ministerial Roundtable held in Singapore in August 2024. "Noting that the Ministerial Roundtable is a unique mechanism, the leaders appreciated the work done by senior ministers from both sides in deliberating and identifying a new agenda for bilateral cooperation. The leaders called for accelerated action under the pillars of cooperation identified during the Ministerial Roundtables - Advanced Manufacturing, Connectivity, Digitalisation, Healthcare &amp; Medicine, Skills Development and Sustainability," the release stated. The leaders underscored that the cooperation under these pillars, particularly in the areas of semiconductors and critical and emerging technologies, opens a new chapter in bilateral relations, making our ties future-orientated. The discussion also covered celebration of 60th anniversary of bilateral relations in 2025. Highlighting that cultural connect between the two countries is an important component of these ties, Prime Minister announced that India's first Thiruvalluvar Cultural Centre would be opened in Singapore, the release added. The leaders also exchanged views on important regional and global issues of mutual interest, including India - ASEAN relations and India's vision for the Indo-Pacific Terming Singapore an "important anchor" of India's Act East Policy, Prime Minister Narendra Modi appreciated the elevation of ties. He further emphasised that the two nations are connected by shared belief in democratic value, and also appreciated the increased cooperation in the field of skilling, defence, connectivity. Taking to social media platform X, PM Modi stated, "The discussions with my friend, PM Lawrence Wong continued today. Our talks focused on boosting cooperation in areas like skilling, technology, healthcare, AI and more. We both agreed on the need to boost trade relations." <div type="twitter" handle="narendramodi" handlename="narendramodi" favoritecount="0" retweetcount="0" id="1831541591275651268"></div> Speaking at the meeting, PM Modi, "Singapore is also an important anchor of our Act East policy. Shared belief in democratic values connects us to each other. I am happy that I have got the opportunity to visit Singapore at the beginning of my third term." The Prime Minister highlighted that the trade between the two countries has more than doubled in the last 10 years. He also noted that 17 satellites of Singapore have been launched from India in last 10 years. "A decade of our strategic partnership is being completed. Our trade has more than doubled in the last ten years. Mutual investment has increased almost three times to cross USD 150 billion. Singapore was the first country with which we launched the Person to Person payment facility of UPI," PM Modi said. "In the last ten years, 17 satellites of Singapore have been launched from India. Our cooperation has gained momentum from skilling to defence sector. The agreement between Singapore Airlines and Air India has strengthened connectivity. I am happy that today we are together giving our relations the shape of a Comprehensive Strategic Partnership," he added.. Recalling age-old ties between the two nations, PM Modi thanked Singapore for the respectful treatment of freedom fighter Subhash Chandra Bose. He added that the bilateral ties will complete 60 years in 2025. "The 3.5 lakh people of Indian origin living in Singapore are the strong foundation of our relations. We are forever grateful to the whole of Singapore for the place and respect that Subhash Chandra Bose, Azad Hind Fauj and Little India have received in Singapore. Our relations are going to complete 60 years in 2025. To celebrate this with pomp and show, work should be done to create an Action Plan in both the countries," the Prime Minister said. He also announced that India's first Thiruvalluvar Cultural Centre will be opened in Singapore soon, while appreciating the teachings of Saint Thiruvalluvar. "I am very happy to inform you that India's first Thiruvalluvar Cultural Centre will soon be opened in Singapore. The great saint Thiruvalluvar has given guiding thoughts to the world in the most ancient language, Tamil. His composition Tirukkural was written almost 2 thousand years ago, but the ideas given in it are still relevant today. He has said, 'Nayanodu nnnri purinnd payanudaiyar panbu parattum ulagu', that is 'The world praises those who are known for justice and service to others'. I believe that millions of Indians living in Singapore are also inspired by these ideas and are contributing to strengthening the relationship between the two countries," he further stated. PM Modi said that the two nations will continue to work together for regional peace, stability and prosperity.

India and Singapore elevate relations to Comprehensive Strategic Partnership; Agree to expand trade, investment

If <keyword id="6354484" type="General" weightage="20" keywordseo="Donald-Trump" source="Orion">Donald Trump</keyword> wins US Presidential election it would be beneficial for India says a <keyword id="35145" type="General" weightage="20" keywordseo="global-market" source="Orion">global market</keyword> research by Nomura. The report says India is likely to benefit from <keyword id="19906203" type="General" weightage="20" keywordseo="Trump" source="keywords">Trump</keyword> policies. "We see India as a relative beneficiary, due to its domestic demand-driven growth model and benefits from lower commodity prices, supply chain shifts and on foreign policy." The report however adds that "India and the US share deep economic and strategic interests that are unlikely to be compromised, irrespective of the election outcome. The US also sees India as a strategic counterweight to China on foreign policy. India is a large, domestic demand-driven economy, so the economic fallout of weaker US <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> should be limited." Any frictions on trade and immigration under Trump Presidency will be offset by the gains accruing to India from the ongoing supply chain shifts, as de-risking from China will gather momentum. The economic impact on India should also be limited. India's economy is largely driven by domestic demand, so the potential fallout from weaker US growth will likely to be contained and the negative growth spill over should be limited. On the contrary, lower commodity prices owing to the hit to China's growth and lower oil prices, due to a greater push towards fossil fuels, will be beneficial for India. The report says India's large forex reserve and fiscal disciple can handle any volatility. "We also believe that India is well-prepared to handle any volatility stemming from US policies, amid its large FX reserves buffer, stable growth-moderate inflation mix, high real rates, fiscal discipline and a continued focus on reforms" Trade friction between India and the US may resurface under Trump's Presidency, as India runs a trade surplus with the US, which could draw scrutiny. India's merchandise trade surplus, which stood at around USD 32 billion in 2023, may face challenges if Trump reinstates tariffs or takes punitive measures. India's high tariffs on certain goods have been flagged before, and these issues may re-emerge. However, these frictions are likely to be outweighed by the medium-term benefits of supply chain relocation. As companies move away from China, India remains at the forefront, attracting investments and reshoring efforts due to its large consumer base, manufacturing policies, and economic reforms. One area where India could face challenges is immigration. Indian nationals make up over 72 per cent of the H-1B work visas issued by the US, and any tightening of immigration policies could impact Indian professionals. While Trump's focus has largely been on illegal immigration, changes to legal immigration processes could also pose difficulties for Indian IT companies and professionals. Despite this, Indian firms have already adapted by reducing their reliance on H-1B visas and hiring more domestic workers in the US, potentially softening the blow of any immigration policy changes. On the foreign policy front, India is expected to benefit under a Trump presidency. With less emphasis on human rights and democratic values, India could see fewer clashes with the US over sensitive issues. Additionally, Trump's softer stance towards Russia could align with India's interests, given its ties with Moscow. India's strategic importance as a counterweight to China will continue to strengthen under Trump, ensuring that the partnership between the two nations remains robust in the defence, security, and economic domains. However, the report adds, India and the United States share deep-rooted economic and strategic interests, which are expected to remain strong, regardless of the US election outcome. As the US sees India as a key counterweight to China, India's large domestic demand-driven economy ensures it remains insulated from the potential negative impacts of a weaker US economic growth.

India is likely to benefit if Trump wins US elections, per Nomura Global Research

The <keyword id="32723" type="General" weightage="100" keywordseo="defence" source="Orion">defence</keyword> ministry has approved a fresh list of 928 components and subsystems which will only be procured from the domestic industry after a ban on their import kicks in under a staggered time-line of around five-and-half years. The ministry on Sunday said the aim of the move is in sync with the government's overall aim to promote 'Atmanirbharta' (self-reliance) in defence production. It is the fourth such "positive indigenisation list (PIL)" comprising line replacement units, sub-systems and components used for various military platforms, equipment and weapons. "To promote 'Aatmanirbharta' in defence and minimise imports by defence public sector undertakings, the <keyword id="6369097" type="General" weightage="50" keywordseo="ministry-of-defence" source="Orion">Ministry of Defence</keyword> has approved fourth Positive Indigenisation List (PIL) of 928 strategically-important line replacement units/sub-systems/spares and components, including high-end materials and spares, with import substitution value worth Rs 715 crore," the ministry said in a statement. The aim of the indigenisation list is also to minimise imports by the defence public sector undertakings (DPSUs). The defence ministry has set specific timelines for import ban of the items, spanning the period from December 2023 to December 2028. This list is in continuation to the three similar PILs that were brought out in December 2021, March 2022 and August 2022 "These lists contain 2,500 items which are already indigenised and 1,238 (351+107+780) items which will be indigenised within the given timelines," the ministry said. Of the 1,238, 310 items have been indigenised so far, it said. The items which were already indigenised comprised 262 from the first PIL, 11 from the second list and 37 from the third PIL, according to the ministry. "The DPSUs will undertake indigenisation of these items through different routes under 'Make' category and in-house development through the capabilities of MSMEs and private Indian industry, thereby providing impetus to the growth in economy, enhanced investment in defence and reduction in import dependence of DPSUs," the ministry said. "In addition, this will augment the design capabilities of the domestic defence industry by involving academia and research institutions," it said. In a tweet, Defence Minister <keyword id="6355121" type="General" weightage="50" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> said the Narendra Modi government is committed towards indigenisation and ensuring self reliance in the defence sector. "Keeping this in mind, the 4th Positive Indigenisation List (PIL) of 928 strategically-important Line Replacement Units (LRUs)/Sub-systems/Spares and Components has been approved," he said. "The list includes high-end materials and spares, with import substitution value worth Rs 715 crore," Singh added. The ministry said DPSUs will soon initiate procurement action for these notified items. In the last few years, the government has taken a series of measures to promote domestic defence production. <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> is one of the largest importers of arms globally. According to estimates, the Indian armed forces are projected to spend around USD 130 billion in capital procurement over the next five years. The government now wants to reduce dependence on imported military platforms and has decided to support domestic defence manufacturing. The defence ministry has set a goal of a turnover of USD 25 billion (Rs 1.75 lakh crore) in defence manufacturing in the next five years which includes an export target of USD 5 billion worth of military hardware. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/govt-to-roll-out-lost-mobile-blocking-tracking-system-pan-india-on-may-17/articleshow/100224875.cms">Govt to roll out lost mobile blocking, tracking system pan-India on May 17</a> <a href="https://www.businessinsider.in/stock-market/markets/news/fpi-bought-equity-worth-rs-18617-crore-in-may/articleshow/100225129.cms">FPI bought equity worth ₹18,617 crore in May</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-wants-us-to-start-building-rd-around-6g-technology-cisco-coo/articleshow/100224961.cms">PM Modi wants us to start building R&amp;D around 6G technology: Cisco COO</a>

Govt approves 4th 'positive indigenisation list' of sub-systems to promote domestic defence industry

The <keyword id="19899478" type="General" weightage="20" keywordseo="US" source="keywords" meta.keywordsubtype="org" meta.entityname="US" meta.hostid="153" meta.entityid="US">US</keyword> is deepening its ties with India in several key areas, including economic and <keyword id="20102378" type="General" weightage="20" keywordseo="security-cooperation" source="keywords">security cooperation</keyword>, a senior official has said, emphasising that Washington will continue to cultivate this relationship. State Department Deputy Spokesperson <keyword id="20163254" type="General" weightage="20" keywordseo="Vedant-Patel" source="keywords">Vedant Patel</keyword> made the remarks on Monday at his daily news conference in response to a question on <keyword id="21319316" type="General" weightage="100" keywordseo="US-India-relations" source="keywords">US-India relations</keyword> and the recent conversation between President Joe Biden and Prime Minister Narendra Modi on the sidelines of the recent <keyword id="21430934" type="General" weightage="20" keywordseo="G7-Summit" source="keywords" meta.keywordsubtype="org" meta.entityname="G7 Summit" meta.hostid="153" meta.entityid="G7 Summit">G7 Summit</keyword> in Italy. "India is a country in which we are deepening our relations within a number of key spaces, especially as it relates to deepening our <keyword id="20900218" type="General" weightage="20" keywordseo="economic-ties" source="keywords">economic ties</keyword>, deepening our security cooperation," Patel told reporters. <keyword id="19939897" type="General" weightage="20" keywordseo="President-Biden" source="keywords" meta.keywordsubtype="org" meta.entityname="President Biden" meta.hostid="153" meta.entityid="President Biden">President Biden</keyword> "had the opportunity to briefly see Prime Minister (Narendra) Modi in the margins of the G7 a couple of weeks ago," he added. "So this is an area where we will continue to cultivate this relationship," he said. Noting that the US hosted <keyword id="19944915" type="General" weightage="20" keywordseo="Prime-Minister-Modi" source="keywords" meta.keywordsubtype="org" meta.entityname="Prime Minister Modi" meta.hostid="153" meta.entityid="Prime Minister Modi">Prime Minister Modi</keyword> for a state visit last year, he said, "I imagine there will be a number of additional areas where we continue to deepen cooperation." Prime Minister Modi visited the US in June last year at the invitation of President Biden during which the two countries signed a raft of mega defence, trade and space cooperation agreements. Patel added that National Security Adviser Jake <keyword id="20219035" type="General" weightage="20" keywordseo="sullivan" source="keywords">Sullivan</keyword> visited India a few weeks ago too. Sullivan visited India from June 17 to 18 and held extensive talks with his counterpart <keyword id="20107232" type="General" weightage="20" keywordseo="Ajit-Doval" source="keywords">Ajit Doval</keyword> primarily focusing on the implementation of the ambitious India-US Initiative on Critical and Emerging Technologies (iCET). Responding to a question on Pakistan and on India-Pakistan ties, Patel said the US would hope that any country on the face of the planet condemns terrorism anywhere. "But ultimately, this is between India and Pakistan. Broadly, of course, we welcome any countries making more positive relations with their neighbours. But as it relates to this specifically, I just, I don't have anything to offer," he said.

Deepening ties with India in several areas: US

<ul><li>Speaking in the <keyword id="6355187" type="General" weightage="50" keywordseo="lok-sabha" source="Orion">Lok Sabha</keyword> 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.</li><li>The minister said that the issue had been taken up with <keyword id="1334" type="General" weightage="50" keywordseo="china" source="Orion">China</keyword> through diplomatic channels. </li><li>He further said that no Indian troops were killed or seriously injured in the incident.</li></ul>Defence Minister <keyword id="6355121" type="General" weightage="80" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> 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 <keyword id="61282" type="General" weightage="50" keywordseo="tawang" source="Orion">Tawang</keyword> 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 Indian troops 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 <keyword id="6354721" type="General" weightage="100" keywordseo="parliament" source="Orion">Parliament</keyword> over the clash between troops of India and China. Soon after Rajnath Singh's statement, Opposition leaders staged a walkout from Lok Sabha. (ANI) SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/rupee-declines-20-paise-to-82-71-against-us-dollar-in-early-trade/articleshow/96188516.cms">Rupee declines 20 paise to 82.71 against US dollar in early trade</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/indian-markets-open-higher-as-retail-inflation-eases-paytm-icici-bank-dalmia-bharat-among-stocks-to-watch-out-for/articleshow/96188313.cms">Indian markets open higher as retail inflation eases — Paytm, ICICI Bank, Dalmia Bharat among stocks to watch out for</a>

Defence Minister Rajnath Singh to make statement in Parliament on India-China troops clash in Tawang

New Delhi (India), July 10 (ANI): In a major development, India is planning to buy 26 Rafale fighter aircraft and three <keyword id="4045841" type="General" weightage="20" keywordseo="Scorpene-class" source="Orion">Scorpene class</keyword> conventional submarines from France. The proposals have been placed before the Defence Ministry by the defence forces and are likely to be announced during Prime Minister Narendra Modi's visit to France this week, government sources told ANI. As per the proposals, the Indian Navy will get 22 single-seated Rafale Marine aircraft along with four trainer aircraft. The Navy had been pressing for acquiring these fighter aircraft and submarines urgently as they have been facing shortages in view of the security challenges around the country. The aircraft carriers INS Vikramaditya and Vikrant have been operating the MiG-29s and need the <keyword id="925199" type="General" weightage="20" keywordseo="Rafales" source="Orion">Rafales</keyword> for operations on both carriers. Meanwhile, the three Scorpene class submarines would be acquired under the repeat clause by the Navy as part of Project 75 where they would be built in the Mazagon Dockyards Limited in Mumbai. The deals are estimated to be worth over Rs 90,000 crore but the final cost would be clear only after the contract negotiations are completed which will be held after the deal is announced. India is likely to seek price concessions in the deal and would be insisting on having more 'Make-in-India' content in the plan, sources said. Industry sources said for the Rafale M deal, India and France are expected to form a joint team to negotiate the deal like it was done for the previous Rafale deal for 36 fighter aircraft. The proposals have been discussed in the defence ministry at high-level meetings already and are likely to be placed before the defence acquisition council in the next few days and expected to be accorded Acceptance of Necessity by the government before the announcement in France. (ANI)

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