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<ul><li><keyword id="53189" type="General" weightage="100" keywordseo="boat" source="Orion">Boat</keyword> raises funds to expand market share in smartwatches along with more innovative products.</li><li>The company is making significant progress in diversifying its manufacturing footprint via partnerships with various leading electronics manufacturing services (EMS) players in <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>.</li><li>A significant proportion of Boat's products are now being produced in India (1 million units every month currently).</li></ul>Imagine Marketing Limited, the parent company of consumer electronics brand boAt, is raising Rs 500 crore from its existing shareholder, an affiliate of Warburg Pincus, a leading global private equity fund and new investor <keyword id="2237913" type="General" weightage="80" keywordseo="malabar-investments" source="Orion">Malabar Investments</keyword>. The investment, said the company, will enable it to accelerate its plans to attain leadership in the smartwatches category, scale up its business both within and outside India and further strengthen its R&amp;D and design capabilities. "The new funding will allow us to invest significantly to disrupt the smart watches spaces with more innovative products. And we are thrilled that investors continue to have strong conviction and confidence in the boAt story," said <keyword id="158171" type="General" weightage="50" keywordseo="aman-gupta" source="Orion">Aman Gupta</keyword>, Co-founder and Chief Marketing Officer, of boAt. The company is making significant progress in diversifying its manufacturing footprint via partnerships with various leading electronics manufacturing services (EMS) players in India, including Dixon, with whom it has also created a manufacturing joint venture. A significant proportion of boAt's products are now being produced in India (1 million units every month currently). The company said it is also planning to take the boAt brand overseas. "Through boAt labs (our 120-person in-house R&amp;D team) and our acquisition of KaHa Technologies, (a world-class wearables technology and IoT platform, with 64 patents and patent applications), we are developing the next generation of products," informed <keyword id="264384" type="General" weightage="50" keywordseo="sameer-mehta" source="Orion">Sameer Mehta</keyword>, Co-founder and Chief Product Officer of boAt. boAt closed FY 2022 with net revenue of approximately ₹3,000 crore with 100 per cent YoY growth. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/defense-expo-2022-a-big-step-towards-self-reliance-in-defense-with-a-new-tank-gun-system-and-more/articleshow/95006121.cms">Defense Expo 2022: A big step towards self-reliance in defense with a new tank, gun system, and more</a> <a href="https://www.businessinsider.in/defense/news/made-in-india-lightweight-combat-helicopter/articleshow/94613836.cms">Here’s everything you need to know about the made-in-India lightweight combat helicopter</a>

Boat raises ₹500 crores from Warburg Pincus affiliate, Malabar Investments

<ul><li><keyword id="3556497" type="General" weightage="20" keywordseo="bombay-shaving-company" source="Orion">Bombay Shaving Company</keyword> was in the news for raising a Series C round of funding of Rs 160 crore led by <keyword id="2237913" type="General" weightage="20" keywordseo="malabar-investments" source="Orion">Malabar Investments</keyword>. </li><li>A direct-to-consumer brand, BSC says it aspires to clock Rs 500 crore in net revenue in the next two years.</li><li><keyword id="195814" type="General" weightage="20" keywordseo="deepak-gupta" source="Orion">Deepak Gupta</keyword>, COO, Bombay Shaving Company tells us about the brand’s ambitions, its expansion plans and its marketing strategies.</li></ul>Last week, Bombay Shaving Company (BSC) was in the news for raising a Series C round of funding of Rs 160 crore led by Malabar Investments. A direct-to-consumer brand, BSC says it aspires to clock Rs 500 crore in net revenue in the next two years. India has a massive retail market that is projected to grow from $ 779 billion in 2019 to $ 1,407 billion by 2026 and more than $ 1.8 trillion by 2030, according to Kearney Research. Meanwhile, the online shopping segment had been witnessing a healthy growth and Covid came in and gave it just the push it needed. Within the online segment too, people are now looking for niche, more personalized products, also brands that are organic, give back to the environment or support causes, which has helped the growth of the D2C industry in the last few years. In fact, India’s D2C brands are growing across categories and it is estimated to become a $100 billion addressable market by 2025, according to Avedus. Riding on this trend, brands like BSC have been able to cast its net wide. To understand its journey so far and understand where he wants to take the brand in the next few year, we spoke to Deepak Gupta, COO at Bombay Shaving Company. He told us about the brand’s ambitions, its expansion plans and its marketing strategies. Excerpts: Q) We have just entered a new calendar year but let’s take a look back at the year that went by. How did the brand fare in 2021? In 2021, we have grown 3.5X in revenue and have become truly omni-channel. We have seen interest in the brand from smaller cities and towns, and have strategically built and invested in our offline channel presence, with one of the best start-up sales team's in India. Today we are at 25,000 selling points across India. One of the big highlights of 2021 has been the launch of Women's Hair Removal Business, with Bollywood celebrity <keyword id="8493788" type="General" weightage="20" keywordseo="alaya-f" source="Orion">Alaya F</keyword> as our brand ambassador. The women's business is already contributing to 20% of our revenues. Q) BSC has ambitious plans of global expansion… Yes. We are already present in Nepal, Bangladesh etc. and now plan to launch in US, Europe, GCC and Australia, as the brand sees demand, especially from the Indian diaspora. We see the International channel achieving salience for us in a span of 18-24 months, adding 10-15% to our overall company revenue. Q) Since you are already present in Nepal and Bangladesh, how have you been marketing the brand there? How different will your strategy be for Western countries? We have seen a few aspects of the brand resonate consistently across, especially with the Indian diaspora. Firstly, the sentiment of personalized gifting on memorable occasions, and secondly, the ingredient story of our products. Our products are enriched with superfoods and traditional ingredients. Thirdly, we make delightful micro innovations in our products to provide a differentiated experience to our customers, especially in the hair management category. Marketing and brand building on these three levers has worked well for us. Q) What are a few things that have helped BSC gain an edge in the market? We have realized the importance of offline as a channel for our category very early, and are adopting a forward-looking sustainable approach, unlike other <keyword id="11032237" type="General" weightage="20" keywordseo="thrasio" source="Orion">Thrasio</keyword> clones. We also continue to invest in our brand and content creation capabilities in terms of infrastructure and people. We have very short and sharp product conceptualization to GTM cycle, along with a data-driven mindset across everything we do. Q) How big is the men's grooming market in the country and what are the opportunities there? Our total addressable market is upwards of Rs 35,000 crore. We are already a force to reckon with in the hair removal and management space and have huge ambitions to grow our presence exponentially in the next 2 years. Q) Was 2021 a good year for you in terms of revenues? What are your expectations from 2022? We grew 3.5X in 2021 and aspire to clock Rs 500 crore in net revenue in the next 2 years. Q) What do you think it is about in your marketing strategy that you've got right? We are invested in top funnel brand building and awareness, beyond just performance marketing. We have identified brand ambassadors who suit the personality of the brand beautifully. We have a data-driven mindset and leverage D2C as an insights driver to understand changing customer preferences and respond to them swiftly. We are also foraying into hyper local marketing approach, which we had experimented with in 2021 with good success. Q) Going ahead, what are your broad areas of focus as a marketer to build a stronger connect with your consumers? We want to focus strongly on the 'hair removal and hair management' space for both men and women. Our aim is to build brand on the back of strong content, relatable brand ambassadors and memorable ideas. We also plan to scale up innovation in product development and ramp up our offline presence from 25,000 touchpoints to 200,000.

We aspire to clock Rs 500 crore in net revenue in the next 2 years: Deepak Gupta, Bombay Shaving Company

<keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> have corrected sharply by 7% or Rs 5,000 per 10 grams in the local markets after the government slashed the basic customs duty on gold. Lower costs will encourage more people to invest in the yellow metal, both as a commodity and as a financial asset, experts say. Analysts said customs duty cut has made gold imports cheaper. The move will help curb the rampant issue of gold smuggling, leading to growth in the organised <keyword id="22107284" type="General" weightage="20" keywordseo="jewellery-sector" source="keywords">jewellery sector</keyword>. "The cut in basic <keyword id="20330317" type="General" weightage="20" keywordseo="custom-duty" source="keywords">custom duty</keyword> on gold prices makes the yellow metal cheaper. While this can lead to weaker market sentiments due to the sudden change, <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword> stand to benefit from the new, more attractive pricing for gold," said Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities Echoing similar sentiments, Krishnan R, Director &amp; CEO of Unimoni Financial Services said lower costs will encourage more people to invest in gold, both as a commodity and as a financial asset, which is often seen as a hedge against inflation and currency devaluation. Following the <keyword id="19936553" type="General" weightage="20" keywordseo="budget" source="keywords">budget</keyword> announcement by finance minister Nirmala Sitharaman that the government has slashed basic customs duties on gold and silver from 15 per cent to 6 per cent, gold prices crashed by Rs 3,350 to Rs 72,300 per 10 grams in the national capital on Tuesday. The precious metal prices continued the downtrend and plunged by Rs 650 on Wednesday. The yellow metal rates saw another steep fall on Thursday, nosediving by Rs 1,000 to settle at Rs 70,650 per 10 grams, as per the All India Sarafa Association. After the duty cut, the yellow metal has declined Rs 5,000 per 10 grams or 7.1% in the past three sessions, since July 23 when it had fallen Rs 3,350 to end at Rs 72,300 per kg. Also, gold of 99.5% purity declined by Rs 1,000 to Rs 70,300 per 10 grams on Thursday. It had also lost ground by Rs 5,000 per 10 grams in the previous three sessions. On Thursday, silver rates also lost ground by Rs 3,500 per kg to Rs 84,000 per kg. In the past three sessions, the rates of the bright metal fell sharply by Rs 7,000 or 8.3% to Rs 84,000 per kg from Rs 91,000 per kg. Traders also said that a sharp correction in gold prices have revived the demand for jewellery among consumers as they flocked to jewellery outlets to take advantage of lower prices. "The reduction in basic custom duties have spurted the demand for jewellery in the domestic markets. Further, this will act as a sales booster for jewellers before the festive seasons, encouraging fresh buying by the consumers due to lower prices," PC Jeweller's Managing Director Balram Garg. Low gold prices will help domestic jewellers, particularly the organised ones, Garg said. According to MP Ahammed, Chairman, Malabar Group, the reduction has been a long-standing demand of traders in the gold sector, as it is expected to curb the rampant issue of gold smuggling, which poses a substantial threat to the Indian economy. "With the new rates, the duty on one kilogram of gold drops from Rs 9.82 lakh to Rs 3.93 lakh, making smuggling less attractive and more manageable. "This move will help dismantle the mafia chain involved in smuggling, leading to growth in the organised jewellery sector and increasing government revenue through GST and income tax," Ahammed said. Meanwhile, in futures trade on the <keyword id="20316358" type="General" weightage="20" keywordseo="multi-commodity-exchange" source="keywords">Multi Commodity Exchange</keyword> (MCX), gold futures have partially recovered on Friday, after three days of slump. The most traded August contract jumped Rs 288 to Rs 67,750 per 10 grams on the MCX. It had settled at Rs 67,462 per 10 grams in the previous session on Thursday. However, silver contracts for September delivery continued its downward trend by declining Rs 241 to Rs 81,090 per kg. It had closed at Rs 81,331 per kg in the previous session on Thursday. Experts anticipate stability in bullion prices once there is clarity on several economic and political factors such as interest rate cut by the <keyword id="19901377" type="General" weightage="20" keywordseo="us-federal-reserve" source="keywords">US Federal Reserve</keyword>. "Stability in gold prices is expected once there is clarity on several economic and political factors including, potential interest rate cuts in the US and India, and the outcome of the US Presidential elections will provide a clear direction for gold prices," Trivedi said.

Gold prices drop by Rs 5,000/10gm post Budget; bring cheers to retail investors

The bull has sadly left the sand pit before his time, very much at the peak of his prowess. Putting an end to all speculation, legal fraternity sources have revealed that top stockbroker and <keyword id="6504177" type="General" weightage="50" keywordseo="big-bull" source="Orion">Big Bull</keyword> Rakesh <keyword id="45125" type="General" weightage="100" keywordseo="jhunjhunwala" source="Orion">Jhunjhunwala</keyword> has left a will which will provide direction and intent on his heirs and the handling of his colossal <keyword id="27145" type="General" weightage="20" keywordseo="fortune" source="Orion">fortune</keyword> hereafter. Jhunjhunwala, whose fortune is believed to be worth approximately ₹50,000 crore, had arranged to ensure his estate, including shares and <keyword id="6354516" type="General" weightage="20" keywordseo="property" source="Orion">property</keyword>, is bequeathed to his wife and three children. In fact, he would often speak about his fourth child - charity. A part of his fortune will thus definitely go towards his favorite charities. His assets - direct holdings in listed and unlisted companies as well as immovable properties - would therefore pass on to his wife and three children, said a person from the legal fraternity on condition of anonymity. Known for his value investing model, the Big Bull is also known to own 35 company holdings. His major investments are in: construction and contracting (11 per cent), miscellaneous (nine per cent), banks (private sector) (6 per cent), finance (general) (6 per cent), construction and contracting (civil) (6 per cent), pharmaceuticals (6 per cent), and banks (public sector) (3 per cent). Jhunjhunwala has three children - daughter Nishtha (18) and twin sons, Aryamaan and Aryavir (13). He would call charity his fourth child. While his listed holdings are reportedly worth ₹50,000 crore, his immovable properties include a sea-facing building in Malabar Hill, Mumbai, purchased from Standard Chartered Bank for ₹176 crore in 2013, and a holiday home in Lonavala. Moreover, his long time legal associate Berjis Desai is reportedly the main executor of the will. The will be read out in the presence of his family after all the Hindu rituals are completed. Desai, who is ex-managing partner of J Sagar Associates, has known the value investor for close to 25 years. He is now an independent legal counsel engaged in private client practice, that is, succession and estate planning for HNIs and promoter families through wills, trusts and family arrangements; resolving family, testamentary and business disputes through mediation and confidential fast track arbitration; and regulatory aspects of offshore investments, residential status and citizenship, insolvency and asset reconstruction advisory. He was also a co-investor in Jhunjhunwala's new aviation venture <keyword id="11911527" type="General" weightage="20" keywordseo="akasa-air" source="Orion">Akasa Air</keyword>. "I have made a small investment. I understand aviation is a high-risk, high-reward business and generally people are cynical about it. But I believe there will be a boom for low-cost airlines in next five-seven years. It is a bet on Jhunjhunwala's business acumen," Desai had said at the time of investing. This scotches speculation of all interlopers who were being perceived to be heirs to Jhunjhunwala's wealth. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtels-stock-surges-as-bharti-telecom-says-it-will-acquire-singtels-stake-for-1-6-bn/articleshow/93767761.cms">Airtel’s stock surges as Bharti Telecom says it will acquire Singtel’s stake for $1.6 bn</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/sanitary-pads-take-250-800-years-to-decompose-which-is-pushing-young-indians-to-opt-for-greener-alternatives/articleshow/93758591.cms">Sanitary pads take 250-800 years to decompose, which is pushing young Indians to opt for greener alternatives</a>

Rakesh Jhunjhunwala left a will to bequeath  ₹50,000 cr fortune to wife, children: sources

Mumbai, Jan 13 () The gem and jewellery industry has sought reduction in customs duty on gold to four per cent, withdrawal of tax collected at source (TCS), cut in <keyword id="6357502" type="UNKNOWN" weightage="20" keywordseo="Import-Duty">import duty</keyword> on polished precious and semi-precious gemstones, in the upcoming Union <keyword id="6358021" type="COMPANY" weightage="20" keywordseo="budget">Budget</keyword> 2021-22. All India Gem and Jewellery Domestic Council (GJC) Chairman Ashish Pethe told , "We urge the government to reduce the customs duty to 4 per cent from the current 12.5 per cent. If the tax rate is not kept at this level, it will encourage smuggling and encourage people to do unorganised business." He further urged the government to keep goods falling under HSN-71 (Harmonised System Nomenclature) out of the purview of TCS provisions as the amount of funds blocked in TCS is 6.67 times more than the ability to pay income tax, resulting in blockage of funds. Pethe also said the facility of equated-montly instalment (EMI) should be extended to the gems and jewellery industry and to increase the cash purchase limit to Rs 1 lakh from the current Rs 10,000. Gems and Jewellery Export Promotion Council (<keyword id="110243" type="PERSON" weightage="20" keywordseo="GJEPC">GJEPC</keyword>) Chairman Colin Shah urged the government to reduce import duty on cut and polished precious and semi-precious gemstones to 2.5 per cent, from the current 7.5 per cent. In its Budget recommendations, GJEPC has also proposed a hike in import duty on synthetic cut and polished stones to 25 per cent from 5 per cent. Shah said GJEPC has also proposed amendment in taxation provisions to allow sale of rough diamonds in special notified zone in Mumbai. Malabar Group Chairman MP Ahammed has urged the government that tax rate, including import duty on gold and GST, should be reduced to 7 per cent. Ahammed has also said the government should create an enabling environment for the jewellery retail trade to introduce MRP pricing in jewellery without any pricing break-up in terms of GST or other taxes. Currently, gold attracts 12.5 per cent import duty and 3 per cent GST and total duty and GST implication works out at 15.5 per cent. "Such high taxes have led to large-scale smuggling and tax evasion. Therefore, reducing import duty-GST implication to 7 per cent is an effective measure to prevent those industry malpractices," he added. Although the tax and duty implication is 15.5 per cent on gold, the actual implication comes to around 20 per cent after adding the mining royalties. The gold and diamond trade together accounts for 7.5 per cent of the country's GDP and 14 per cent of the country's total exports. About 60 lakh people are employed in this sector. Therefore, Ahammed noted that the government should take steps to facilitate comprehensive development of the grade trade sector so that it can continue to play a pivotal role in the growth of the economy. PNG Jewellers Chairman and Managing Director Saurabh Gadgil opined that 2020-21 has had a negative impact on the industry over all. "While jewellers are on track to recover from the impact of the pandemic and a muted wedding season, we are hopeful that the Budget 2021-22 will look at the jewellery industry favourably and roll out many SOPs and important policy changes that can help revive the industry in the next one year," he said. It is critical that the government also look at policies that encourage banks to kick-start lending once again to the jewellery sector, which will help businesses across the board to maintain liquidity and ensure survival and success, he pointed out. From the consumer perspective, he said gold should be deemed as an asset class like the mutual funds, allowing an increase in consumer investment confidence as well as the availability of facilities like EMI schemes to invest in gold products. "Setting up of a spot exchange, announced in the 2018 Budget on an immediate basis, will ensure consistency in pricing of gold across the country. This will boost consumer confidence and help people sell their gold at daily transparent prices," he added. SM HRS

Budget 2021: Gems and jewellery industry seeks reduction of import duty to 4%

<div class="KonaFilter image-container display-table"><div><div class="image on-image">US Navy/Mass Comm Specialist 2nd Class Sarah MyersThe aircraft carrier USS Ronald Reagan transits the Philippine Sea, June 2, 2018.</div></div></div><ul><li>US, Indian, and Japanese ships are in Guam for Exercise Malabar 2018.</li><li>This is the 22nd iteration of the Malabar exercise, which has been focused on maritime operations and security.</li><li>Recent versions of the exercise have taken place amid growing tensions between China and its neighbors.</li></ul>US, Japanese, and Indian warships converged on Guam last week for the 22nd iteration of Exercise Malabar, an annual exercise focused on developing coordination and training to counter maritime threats.This year's version of the exercise, which is <a href="http://www.pacom.mil/Media/News/News-Article-View/Article/1545620/us-indian-and-japanese-maritime-forces-begin-malabar-exercise/" target="_blank" rel="noopener">the first</a> to take place around Guam, runs from June 7 to June 16, but as the ships involved gathered beforehand, the Chinese navy was keeping an eye on the proceedings.Indian ships sailing to Guam were shadowed by Chinese warships in the South China Sea, breaking off only when the Indian ships entered the Philippine Sea."We had good, polite conversation. They were there for some time, and then broke off," Rear Adm. Dinesh K. Tripathi, commander of India's Eastern Fleet and head of India's delegation to Malabar 2018, <a href="https://economictimes.indiatimes.com/news/defence/beijing-keeping-close-watch-on-ongoing-malabar-wargames-by-india-us-japan/articleshow/64516019.cms">told The Economic Times</a>. "The moment we entered the Pacific across the Philippines Sea, they went back. It was interesting."<a href="https://economictimes.indiatimes.com/articleshow/64516019.cms?utm_source=contentofinterest&amp;utm_medium=text&amp;utm_campaign=cppst"></a><div class="KonaFilter image-container display-table"><div><div class="image on-image">Google MapsThe US, Japanese, and Indian navies are taking part in Exercise Malabar 2018 in Guam, with both on-shore and at-sea portions.</div></div></div>Surveillance by Chinese ships, which Tripathi said was "<a href="https://economictimes.indiatimes.com/news/defence/beijing-keeping-close-watch-on-ongoing-malabar-wargames-by-india-us-japan/articleshow/64516019.cms" target="_blank" rel="noopener">not surprising</a>," comes a few weeks after Indian warships spotted a Chinese ship "tailing them at a safe distance" as they left Vietnam, following the <a href="http://www.janes.com/article/80206/india-vietnam-to-conduct-first-joint-naval-exercise" target="_blank" rel="noopener">first joint exercise</a> between those two countries."We knew we were being tailed, but we were on international waters or global commons, and therefore took evasive measures," sources <a href="https://www.indiatoday.in/mail-today/story/china-spies-on-indian-warships-as-they-leave-vietnam-after-naval-exercise-1250556-2018-06-05" target="_blank" rel="noopener">told India Today</a> of the incident.That exercise, which ran from May 21 to May 25, attracted Chinese ire, with a Global Times op-ed <a href="http://www.globaltimes.cn/content/1104314.shtml" target="_blank" rel="noopener">calling</a> it "a futile attempt to flex muscle."<h2>'Distance actually does not matter'</h2>Malabar started in 1992 as a US-India bilateral exercise. It has been done annually since then - with the exception of 1998 through 2002, after India's 1998 nuclear tests - expanding to a trilateral exercise with Japan's addition in 2015.Other countries <a href="http://www.businessinsider.com/malabar-2017-photos-of-us-india-and-japan-war-games-in-indian-ocean-2017-7#malabar-was-long-a-us-india-bilateral-exercise-but-it-has-become-indias-first-permanent-trilateral-exercise-after-japans-addition-in-2015-other-countries-have-participated-in-the-past-at-times-sparking-protest-from-china-india-and-australia-had-bilateral-exercises-earlier-this-year-as-did-australia-and-the-us-1" target="_blank" rel="noopener">have participated</a> in the past, though Indian has declined Australia's request to take part for the past two years. (Observers <a href="https://news.usni.org/2018/06/06/u-s-india-japan-navies-start-malabar-exercise-on-thursday" target="_blank" rel="noopener">suspect</a> Chinese pressure is behind Canberra's exclusion.)<div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="https://twitter.com/indiannavy/status/1004938668321091584/photo/1">Indian navy/Twitter</a>US, Japanese, and Indian personnel aboard Japan's Hyuga-class helicopter carrier JS Ise during Malabar 2018, June 7, 2018.</div></div></div>Malabar 2018 <a href="http://www.pacom.mil/Media/News/News-Article-View/Article/1545620/us-indian-and-japanese-maritime-forces-begin-malabar-exercise/" target="_blank" rel="noopener">consists</a> of on-shore and at-sea portions. The former ran from June 7 to June 10, involving expert and professional exchanges on carrier strike group, maritime patrol, and reconnaissance operations as well as on surface and anti-submarine warfare. The latter portion lasts from June 11 to June 16 in the Philippine Sea, and will include military-to-military coordination, air-defense and surface-warfare exercises, and replenishment while underway.The US Navy has sent the USS Ronald Reagan, Ticonderoga-class guided-missile cruisers USS Antietam and USS Chancellorsville, Arleigh Burke-class guided-missile destroyer USS Benfold, and a P-8A Poseidon aircraft.India's participants include stealth frigate INS Sahyadri and the first-in-class antisubmarine-warfare corvette INS Kamorta, which was trailed by a Chinese ship while leaving Vietnam last month. India's fleet tanker INS Shakti and a P-8I Neptune, <a href="http://www.businessinsider.com/india-china-more-us-made-sub-hunting-planes-2018-1" target="_blank" rel="noopener">the Indian variant</a> of the P-8A Poseidon, are also taking part.Japan sent its Hyunga-class helicopter carrier JS Ise as well as two destroyers, JS Suzunami and JS Fuyuzuki.<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">(US Navy photo by Mass Communication Specialist 2nd Class Holly L. Herline)US Navy Rear Adm. Bill Byrne, commander of Carrier Strike Group 11, watches the end of Exercise Malabar 2017 from the aircraft carrier USS Nimitz, in the Bay of Bengal, July 17, 2017.</div></div></div>As in years past, Malabar 2018 includes a focus on submarine and antisubmarine warfare, a capability that has grown in importance <a href="http://www.businessinsider.com/china-growing-submarine-force-worrying-pacific-us-2018-3" target="_blank" rel="noopener">as Chinese submarine activity has increased</a> in the Pacific and Indian oceans. A number of countries in the region have been investing more in their submarine forces - India in particular is seeking <a href="http://www.businessinsider.com/india-to-buy-submarines-amid-china-naval-activity-in-the-indian-ocean-2017-7" target="_blank" rel="noopener">to add submarines</a> and <a href="http://www.businessinsider.com/india-china-more-us-made-sub-hunting-planes-2018-1" target="_blank" rel="noopener">Neptune maritime-patrol aircraft</a>.This year's version of the exercise is also the first since the US <keyword id="6354810" type="UNKNOWN" weightage="100" keywordseo="defense">Defense</keyword> Department <a href="http://www.businessinsider.com/us-renames-pacific-command-to-indo-pacific-command-to-counter-china-2018-5" target="_blank" rel="noopener">renamed US Pacific Command as US Indo-Pacific Command</a> - a shift that has been interpreted as both a rhetorical swipe at China and an adjustment to the growing interconnectedness of the Pacific and Indian ocean regions.Chinese spy ships have been spotted <a href="http://www.businessinsider.com/chinese-spy-ship-seen-near-us-australia-talisman-saber-war-games-2017-7" target="_blank" rel="noopener">lurking near US naval exercises</a> with partners in the region in the past, and such activity is <a href="https://economictimes.indiatimes.com/news/defence/beijing-keeping-close-watch-on-ongoing-malabar-wargames-by-india-us-japan/articleshow/64516019.cms" target="_blank" rel="noopener">expected</a> again during Malabar 2018.For India, basing the exercise in Guam reflects the country's willingness and ability to project power."Distance actually does not matter. Wherever Indian maritime interests are, that is our area of operation," Tripathi <a href="https://economictimes.indiatimes.com/news/defence/beijing-keeping-close-watch-on-ongoing-malabar-wargames-by-india-us-japan/articleshow/64516019.cms" target="_blank" rel="noopener">told The Economic Times</a>. "Wherever national interest takes us, we will deploy if needed." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/life-us-navy-submarine-military-training-armed-forces-2016-9">Everything you've ever wanted to know about life on a US Navy submarine</a></h3> <div> </div> </div>

The US, Japanese, and Indian navies are meeting for exercises near Guam for the first time, and China is keeping a close eye on them

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Getty Images / Thomas Peter-PoolPresident Donald Trump with Chinese President Xi Jinping in China.</div></div></div><ul><li>China and its neighbors have been rapidly enhancing their militaries in recent years.</li><li>Countries in the region, worried about Beijing and uncertain about the US, are also looking to boost cooperation with each other.</li><li>Beijing is in an advantageous position and can wield considerable influence.</li></ul>Military spending has ramped up in Asia, <a href="http://www.businessinsider.com/china-weaponizing-capital-us-navy-chief-awake-at-night-2018-3" target="_blank" rel="noopener">led by China</a>, whose addition of submarines to its fleet has <a href="http://www.businessinsider.com/china-growing-submarine-force-worrying-pacific-us-2018-3" target="_blank" rel="noopener">inspired similar ambitions</a> among its neighbors.Beyond hardware, however, countries in Asia are also reassessing the balance of power in the region, contemplating how to engage China and what role the US - long a guarantor of security and trade in the region - will play in the region <a href="https://thediplomat.com/2018/02/us-allies-arent-buying-its-new-strategies-to-confront-china/" target="_blank" rel="noopener">going forward</a>."Everyone out in Asia is, on one hand, scared of China, and, the other hand, they need China for trade," Mike Fabey, author of the 2017 book "<a href="http://www.simonandschuster.com/books/Crashback/Michael-Fabey/9781501112041" target="_blank" rel="noopener">Crashback</a>," about tensions between China and the US in the Pacific, told Business Insider. "Also there's a real sense of, 'China's right here. America's on the other side of the world.'"Officials in the region felt the Obama administration "was letting China slide with a few things here and there" to secure cooperation, or at least noninterference, from Beijing on other issues, like the Paris climate accord, Fabey said. "But even with that, there was still definitely a feeling, 'Hey, America's got our back.'"<div class="KonaFilter image-container display-table"><div><div class="image on-image">Andrew Harnik/APPresident Donald Trump with Vietnamese Prime Minister Nguyen Xuan Phuc and Philippine President Rodrigo Duterte at the ASEAN-US 40th Anniversary commemorative summit in Manila, November 13, 2017.</div></div></div>The Trump administration has referred to the region as the "Indo-Pacific," in what is likely meant to be a rhetorical <a href="https://www.politico.com/story/2017/11/07/trump-asia-indo-pacific-244657" target="_blank" rel="noopener">swipe</a> at China, though it also <a href="https://www.aspistrategist.org.au/new-order-indo-pacific/" target="_blank" rel="noopener">points to</a> the region's maritime dimensions. But, Fabey said, "with the recent administration, there's much more of a feeling now in the Western Pacific, even from folks like Australia, who are really wondering exactly how far America would go now if China were to do anything."That has translated into greater interest in local partnerships."You're starting to see Australia, Japan, and India, for example, there's a new emerging trilateral out there, and that they're counting the US out. The US is involved," Fabey said, but there's now more of a feeling of, "'We're on our own more, at least we should act like we're on our own more, and we'll do it without the US if we have to.'"<h2>'They're very good at playing that card'</h2>First proposed in 2007, the Quadrilateral Security Dialogue, or Quad, made up of the US, Japan, Australia, and India, <a href="https://warontherocks.com/2017/11/rise-fall-rebirth-quad/" target="_blank" rel="noopener">gained new life</a> last year, when officials from those countries <a href="https://thediplomat.com/2017/11/us-japan-india-and-australia-hold-working-level-quadrilateral-meeting-on-regional-cooperation/" target="_blank" rel="noopener">met to discuss</a> a "free and open Indo-Pacific" and seven core themes, including freedom of navigation, maritime security, and a rules-based order in the region.Some members of the Quad have tread carefully out of concern about China, which <a href="https://amp.afr.com/news/australia-mulls-rival-to-chinas-belt-and-road-with-us-japan-india-20180216-h0w7k5" target="_blank" rel="noopener">protested</a> its restoration. India has also expressed <a href="http://www.thehindu.com/opinion/lead/beyond-big-game-hunting/article19988330.ece/amp" target="_blank" rel="noopener">reticence</a> about the partnership - in part over concerns about its own <a href="https://www.reuters.com/article/us-india-usa-quad/indian-navy-the-odd-man-out-in-asias-quad-alliance-idUSKBN1DM0UB" target="_blank" rel="noopener">autonomy</a> as well as <a href="https://warontherocks.com/2017/11/rise-fall-rebirth-quad/" target="_blank" rel="noopener">doubts</a> about the other three countries' approaches to China."China likes to play the card, 'Look, you're Asian. We're Asian. Quite honestly, no Western power is going to protect your Asian rights out here ... You can't depend on the West to do that,'" Fabey told Business Insider. "And they're very good at playing that card."<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">(US Navy Photo by Mass Communication Specialist 2nd Class Tyler Preston/Released)A US sailor aboard Arleigh Burke-class guided-missile destroyer USS Howard gives a tour to Indian sailors during Malabar 2017.</div></div></div>But cooperation between countries in the region continues, with an eye on securing and enhancing trade and security.Japan has <a href="http://foreignpolicy.com/2018/02/09/japan-takes-the-lead-in-countering-chinas-belt-and-road" target="_blank" rel="noopener">increased efforts</a> to counter <a href="http://www.businessinsider.com/china-weaponizing-capital-us-navy-chief-awake-at-night-2018-3" target="_blank" rel="noopener">China's Belt and Road initiative</a>, ramping up international partnerships and investments - including in Sri Lanka, where a recent Chinese port project has <a href="http://www.businessinsider.com/indias-concern-with-beijing-expansion-grows-with-sri-lanka-port-deal-2017-8" target="_blank" rel="noopener">angered India</a>.Australia has <a href="https://amp.afr.com/news/australia-mulls-rival-to-chinas-belt-and-road-with-us-japan-india-20180216-h0w7k5" target="_blank" rel="noopener">followed suit</a>, talking to the US, India, and Japan about a joint regional infrastructure program <a href="https://www.reuters.com/article/us-china-beltandroad-quad/australia-u-s-india-and-japan-in-talks-to-establish-belt-and-road-alternative-report-idUSKCN1G20WG" target="_blank" rel="noopener">to rival</a> Beijing's outreach.Australia, India, and Japan have been pursuing a trilateral partnership since late 2015, aimed at ensuring "<a href="https://economictimes.indiatimes.com/news/defence/australia-japan-and-india-trilateral-in-delhi-on-december-12/articleshow/61840323.cms" target="_blank" rel="noopener">open and free</a>" movement in the region and advancing their shared interests.The <a href="http://www.businessinsider.com/malabar-2017-photos-of-us-india-and-japan-war-games-in-indian-ocean-2017-7" target="_blank" rel="noopener">Malabar 2017 exercises</a> last summer, in which India, Japan, and the US took part, emphasized antisubmarine warfare - including submarine-on-submarine exercises. "Nowhere else does the American navy do that," Fabey noted, saying cooperation between US and Indian navies "is unlike any other in the world." (While New Delhi blocked Australia's participation in Malabar 2017, their <keyword id="6354810" type="UNKNOWN" weightage="100" keywordseo="defense">defense</keyword> cooperation has <a href="https://warontherocks.com/2017/11/rise-fall-rebirth-quad/" target="_blank" rel="noopener">progressed</a>.)India and Japan did <a href="http://www.business-standard.com/article/economy-policy/india-japan-begin-three-day-anti-submarine-drill-amid-concerns-over-china-117102900541_1.html" target="_blank" rel="noopener">three days</a> of antisubmarine exercises in the Indian Ocean in October.In March, Vietnam's president visited India, where the leaders of the two countries put out a <a href="http://www.mea.gov.in/bilateral-documents.htm?dtl/29535/IndiaVietnam+Joint+Statement+during+State+visit+of+President+of+Vietnam+to+India+March+03+2018" target="_blank" rel="noopener">statement</a> pledging to continue defense cooperation. Two days later, US carrier made <a href="https://www.washingtonpost.com/news/checkpoint/wp/2018/03/05/a-u-s-aircraft-carrier-arrived-in-vietnam-for-the-first-time-since-the-fall-of-saigon/" target="_blank" rel="noopener">a port call</a> in Vietnam - the first such visit in four decades and a sign of growing ties between the US and Hanoi (whose acquisition of <a href="http://www.businessinsider.com/china-growing-submarine-force-worrying-pacific-us-2018-3" target="_blank" rel="noopener">submarines has also irked China</a>).Around the same time, India's army chief said that New Delhi was working with Australia, Japan, and the US to guarantee "<a href="https://economictimes.indiatimes.com/news/defence/india-engaging-with-aus-japan-us-to-ensure-freedom-of-navigation-gen-rawat/articleshow/63191611.cms" target="_blank" rel="noopener">freedom of navigation</a>" in the region. A few days later, India began its Milan 2018 naval exercises, <a href="https://thediplomat.com/2018/02/the-real-significance-of-indias-milan-navy-exercise/" target="_blank" rel="noopener">underscoring</a> New Delhi's growing engagement with the region.The Milan exercises were first held in 1995 with four countries. This year, <a href="https://timesofindia.indiatimes.com/india/multi-lateral-naval-exercise-begins-in-andamans/articleshow/63191024.cms" target="_blank" rel="noopener">16 countries</a> joined the drills, which for <a href="https://thediplomat.com/2018/02/the-real-significance-of-indias-milan-navy-exercise/" target="_blank" rel="noopener">the first time</a> included a joint multilateral exercise at sea. The naval portion took place around the Andaman and Nicobar Islands, <a href="http://www.businessinsider.com/india-to-buy-submarines-amid-china-naval-activity-in-the-indian-ocean-2017-7" target="_blank" rel="noopener">strategically located near the Malacca Straits</a>, which connects the Indian and Pacific oceans.<div class="KonaFilter image-container display-table"><div><div class="image on-image">(US Navy photo by Mass Communication Specialist 2nd Class Holly L. Herline)US Navy Rear Adm. Bill Byrne, commander of Carrier Strike Group 11, observes Indian navy, Japan Maritime Self-Defense Force, and US Navy ships from the aircraft carrier USS Nimitz during Malabar 2017 in the Bay of Bengal, July 17, 2017.</div></div></div>That was followed in late March by <a href="http://www.navy.mil/submit/display.asp?story_id=104810" target="_blank" rel="noopener">the fourth meeting</a> between US Chief of Naval Operations Adm. John Richardson and Indian navy chief Adm. Sunil Lanba, where they "discussed ways to improve interoperability to include additional naval exercises and staff talks."As with the Quad, India, which <a href="http://www.businessinsider.com/india-china-more-us-made-sub-hunting-planes-2018-1" target="_blank" rel="noopener">uses Russian-made military hardware</a>, has been reluctant about joint operations. Its reticence about information-sharing has <a href="https://www.reuters.com/article/us-india-usa-quad/indian-navy-the-odd-man-out-in-asias-quad-alliance-idUSKBN1DM0UB" target="_blank" rel="noopener">reportedly hindered</a> those exercises and broader interoperability.<h2>'Like their Caribbean'</h2>China has made clear its displeasure with such regional cooperation.When Japan's inclusion in the Malabar exercise was permanent in late 2015, Beijing reacted sharply, <a href="https://economictimes.indiatimes.com/news/defence/china-reacts-sharply-to-japans-inclusion-in-malabar-exercises/articleshow/50172813.cms" target="_blank" rel="noopener">saying</a> it hoped "the relevant country will not provoke confrontation and heighten tensions in the region."The rivalry between China and India in the Indian Ocean appeared inflamed in February, when both looked <a href="https://www.reuters.com/article/us-maldives-politics/asian-giants-china-and-india-flex-muscles-over-tiny-maldives-idUSKCN1GJ12X" target="_blank" rel="noopener">poised to respond</a> in the Maldives, where the government imposed a state of emergency, jailed opponents, and stifled protests. (The state of emergency <a href="https://asia.nikkei.com/Politics-Economy/International-Relations/Maldives-lifts-state-of-emergency-defusing-China-India-tensions" target="_blank" rel="noopener">was lifted</a> this week.) India has long wielded influence in the Maldives, but the government there has courted China, buying into what <a href="https://asia.nikkei.com/Politics-Economy/International-Relations/Maldives-faces-Chinese-land-grab-over-unpayable-debts-ex-leader-warns" target="_blank" rel="noopener">critics fear</a> is Beijing's "<a href="http://www.businessinsider.com/china-weaponizing-capital-us-navy-chief-awake-at-night-2018-3" target="_blank" rel="noopener">debt-trap diplomacy</a>."China has also flexed its muscles in the South and East China Seas. In January, a Chinese sub <a href="https://thediplomat.com/2018/01/japan-identifies-chinese-submarine-in-east-china-sea-a-type-093-ssn/" target="_blank" rel="noopener">was detected</a> around the Senkaku/Diaoyu Islands, which are controlled by Japan but disputed Beijing. It the <a href="https://asia.nikkei.com/Politics-Economy/International-Relations/Submarine-seen-near-territory-was-Chinese-Japan-confirms" target="_blank" rel="noopener">first confirmed</a> identification of a Chinese sub that area and drew a Japanese protest. Chinese ships have entered that area <a href="https://www3.nhk.or.jp/nhkworld/en/news/20180323_26/" target="_blank" rel="noopener">on six days</a> this year, most recently on March 23.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Japanese Ministry of DefenseA Chinese Shang-class nuclear attack submarine in the contiguous zone of the Senkaku/Diaoyu Islands.</div></div></div>In recent days, Vietnam, which has sought to mollify Beijing after the US carrier's visit, assented <a href="http://www.bbc.com/news/world-asia-43507448" target="_blank" rel="noopener">to Chinese pressure</a> to scrap an offshore oil-drilling project - the <a href="https://www.reuters.com/article/us-southchinasea-vietnam/vietnam-halts-south-china-sea-oil-drilling-project-under-pressure-from-beijing-idUSKBN1GZ0JN" target="_blank" rel="noopener">second time</a> in a year Hanoi has done so. The cancellation is <a href="http://www.bbc.com/news/world-asia-43507448" target="_blank" rel="noopener">likely to be read</a> in Beijing as a sign Vietnam's strategic thinking has not changed, despite US shows of force in the area.Such a victory means Beijing's efforts to assert its claims, and to influence its neighbors, are unlikely to end. Even with regional efforts to counter China, the country's geography, resources, and military put it in a position to wield considerable influence over the region and the trade that passes through it - which makes a continuing US presence all the more important, said Fabey, author of "<a href="http://www.simonandschuster.com/books/Crashback/Michael-Fabey/9781501112041" target="_blank" rel="noopener">Crashback</a>.""If the US were to pull back from there ... China would take control, and if China wants to do this, they basically would," he told Business Insider. "The South China Sea could be like their Caribbean. How we control the Caribbean, China says it wants to control the South China Sea.""Now as long as everything's equal - that is to say, that China is benefiting from that being free and open - then I guess there's no problem," Fabey said. But that could change, he added, if Beijing decides changing it is in its interests. "China will always do what's best for China." <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/market-outlook-equity-us-asia-growth-2018-3">Traders should be focused on the massive growth opportunities in Asia right now, says an HSBC investment chief</a></h3> <div> </div> </div>

Countries in Asia are wary of China - and they're 'wondering exactly how far America would go'

<a href="http://www.businessinsider.in/searchresult.cms?query=Shinzo+Abe">Shinzo Abe</a> will visit India today. He is looking forward to clinch a few deals including <a href="http://www.businessinsider.in/searchresult.cms?query=bullet+train">bullet train</a>s and amphibious <a href="http://www.businessinsider.in/searchresult.cms?query=defense+planes">defense planes</a>. However, the Chinese media has said that the India visit is part of a bigger underlying anti-China strategy. 
 
"From a strategic perspective, China is an essential factor behind the closer Japan-India relationship," said an article titled 'Tokyo's pursuit of New Delhi may stumble' published in the state-run Global Times. 
 
"Tokyo is trying to contain and besiege Beijing by every possible means, and Abe will not miss any chance to draw Modi over to his side to counter China," it said. 
 
The article also said while India for its part is trying to balance its ties between China and Japan which have tenuous relations due to growing regional rivalry, New Delhi is looking to "hitchhike" more concessions. 
 
"New Delhi is quite cautious in handling its relations with Beijing and Tokyo. The <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+government">Indian government</a> has no intention to take sides between China and Japan, aware that setting itself against Beijing will bring no good to New Delhi. 
 
"India is hoping to hitchhike on China's rise to obtain more economic benefits, and thus is unwilling to offend the world's second largest economy. Knowing that China-Japan relationship is far from perfect, the Indian government is cautious in developing ties with Tokyo, so as to leave itself some leeway in handling its relations with Beijing," it said. 
 
The Indian government prioritises economic development over the need to balance and contain China's rise, it said adding that by cooperating with Japan, India looks forward to reaping more profits from Japanese enterprises. 
 
"Given its high expectations toward investments from both Japan and China, New Delhi is attempting to strike a balance between the two countries," it said. 
 
Highlighting China's concerns over India's invitation to Japan to take part in the annual Malabar naval exercises along with the US, it said the move has cast a shadow on regional security and stability. 
 
"The India-launched anti-submarine drill was most likely targeting China. New Delhi, annoyed by Beijing's presence in surrounding areas, invited Tokyo to the drill as a counter measure," it said. 
 
"Although the likelihood of India turning hostile against China remains quite low, the two nations still suffer from misunderstanding and distrust. While the Indian government may regard Beijing's presence in its surrounding waters as provocative, the Chinese side is also dissatisfied and annoyed by the naval drill. Given this, the two sides should talk more," it said. 
 
"Nonetheless, there is no need for China to be too concerned about a closer <a href="http://www.businessinsider.in/searchresult.cms?query=India-Japan+relationship">India-Japan relationship</a>. The annual summits between the top Indian and Japanese leaders have been carried out for years. Yet, Beijing is highly concerned if New Delhi-Tokyo cooperation poses a threat to the regional peace and stability. Beijing shares many common interests and divergences with New Delhi. The two sides need to communicate more in the future," it said. 
 
Image credit: Indiatimes

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