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In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul><li>India’s <keyword id="6366153" type="UNKNOWN" weightage="20" keywordseo="defence-minister">Defence Minister</keyword> <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> released India’s <keyword id="10014957" type="UNKNOWN" weightage="20" keywordseo="new-defence-acquisition">new Defence Acquisition</keyword> Procedure 2020 today afternoon in the national capital, New Delhi. </li><li>It will be applicable starting October 1.</li><li>The policy has special incentives for products designed and developed by Indian vendors. </li><li>It also has a new manufacturing category that will encourage foreign vendors to set up manufacturing facilities in India, according to Singh. </li></ul>As tensions between India and China continue to simmer along the Line of Actual Control (LAC) in Ladakh, Indian Defence Minister Rajnath Singh unveiled the country’s new Defence Acquisition Procedure (DAP). The policy will be applicable starting October 1. <div type="twitter" handle="DefenceMinIndia" handlename="रक्षा मंत्री कार्यालय/ RMO India" image="http://pbs.twimg.com/profile_images/1134784282080079873/EviwavFk_normal.jpg" favoritecount="835" retweetcount="124" status="Raksha Mantri Shri @rajnathsingh released the New Defence Acquisition Procedure (DAP) at the Defence Acquisition Co… https://t.co/K2PolgHJdK" createdat="1601283481000" id="1310504020432138240"></div> “The <keyword id="10015258" type="UNKNOWN" weightage="20" keywordseo="dap-2020">DAP 2020</keyword> has adequately included provisions to encourage FDI to establish manufacturing hubs both for import substitution and exports while protecting the interests of Indian domestic industry,” said Singh. The policy contains special incentives for Indian designed and developed products, promotes the use of offsets for exports, and has introduced a new category that will encourage foreign vendors to set up manufacturing facilities in India, according to him. The DAP 2020 will eventually replace the existing Defence Procurement Procedure (DPP) 2016. As compared to the previous draft, a new procurement category has been introduced dubbed Buy (Global) - Manufacture in India. “The new category incorporates manufacture of either the entire/part of the equipment or spares/assemblies/subassemblies/Maintenance, Repair and Overhaul (MRO) facility for the equipment, through its subsidiary in India,” the Ministry of Defence (<a href="https://pib.gov.in/PressReleasePage.aspx?PRID=1659746">MoD</a>) described in a statement. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Category </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DPPP 2016 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">DAP 2020 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy (Indian-IDDM) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 40% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 50% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy (Indian) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 40% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indigenous design – Min 50% Otherwise – Min 60% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy and Make (Indian) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 50% of Make </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 50% of Make </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy (Global) — Manufacture in India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 50% of Buy plus Make </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Buy (Global) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NA </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Min 30% for Indian vendors </td></tr></tbody></table>*IDDM = Indian designed, developed and manufactured Source: Press Information Bureau The ‘offset’ guidelines have been revised to give preference to manufacturers of complete defence products over components, according to him. Various multipliers have been added to incentivise discharge of offsets. Here are some other big changes that will come into effect starting October 1 as the DAP 2020 comes into effect: <ul><li>Time-bound defence procurement process and faster decision making: A Project Management Unit (PMU) has been mandated to support contract management. It will facilitate obtaining advisory and consultancy support in specified areas to streamline the acquisition process. </li><li>Request For Information (RFI): RFI stage will explore the willingness of the prospective foreign vendors to progressively undertake [the] manufacture and set up an indigenous ecosystem at the spares/sub-component level.</li><li>Co-production through Intergovernmental Agreements (IGAs): This enables the establishment of co-production facilities through IGA achieving import substitution and reducing life cycle cost.</li><li>Simplification of Trial Procedures: Emphasis on the need to conduct trials to nurture competition based on the principles of transparency, fairness, and equal opportunities to all and not as a process of elimination.</li><li>A separate dedicated chapter has been incorporated in the DAP 2020 for the acquisition of systems designed and developed by DRDO/DPSUs/OFB: A simplified procedure with Integrated Single Stage Trials to reduce timelines and lay greater emphasis on evaluation through certification and simulation. </li></ul> India’s three service chiefs, General MM Naravane, Admiral Karambir Singh and Air Chief Marshal RKS Bhaduria, along with Chief of Defence Staff (CDS) Bipin Rawat, were present at the event. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-postpones-monetary-policy-meeting-new-dates-to-be-announced-soon/articleshow/78361698.cms">RBI postpones Monetary Policy meeting as the hunt for three new MPC members continues</a> <a href="https://www.businessinsider.in/finance/banks/news/sbi-warns-customers-to-beware-of-whatsapp-calls-and-scam-messages/articleshow/78361332.cms">SBI warns customers to beware of WhatsApp calls and scam messages</a> <a href="https://www.businessinsider.in/finance/banks/news/banks-stocks-hdfc-icici-sbi-kotak-mahindra-indusind-react-to-sc-verdict-on-moratorium/articleshow/78358550.cms">Bank stocks gain as Supreme Court defers verdict on loan moratorium case to October 5</a>

Rajnath Singh releases India's new Defence Acquisition Procedure amid India-China border dispute

To expand the domestic <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> ecosystem, a negative list of weapons and platforms would be notified with year-wise timelines for placing an embargo on import of such items from those dates. As per the draft <keyword id="9695994" type="UNKNOWN" weightage="20" keywordseo="defence-production-and-export-promotion-policy">Defence Production and Export Promotion Policy</keyword> (DPEPP 2020) announced on Monday, this list would be updated periodically, without compromising on the operational requirements of the Services, to allow lead-time to industry to prepare itself for any such procurement which is likely to come up, subsequent to the indicated embargo date. The policy proposes a Technology Assessment Cell (TAC) in coordination with the services, which would assess the industrial capability for design, development and production including re-engineering for production of various major systems like <keyword id="386104" type="PERSON" weightage="20" keywordseo="Armoured-Vehicles">armoured vehicles</keyword>, <keyword id="117400" type="PERSON" weightage="20" keywordseo="Submarines">submarines</keyword>, fighter aircraft, <keyword id="54022" type="PERSON" weightage="20" keywordseo="helicopters">helicopters</keyword>, radars with the major industries in the country. A Project Management Unit (PMU), with representation from the Services, would be set up to support the acquisition process and facilitate management of the contracts. This setup would bring in expertise to the process of acquisition as well as create focus and synergy in building military capabilities. With self- reliance as the motto, aim is to move away from licensed production to Design, Develop and produce wherein the Nation owns the Design Rights and IP of the systems. "Our Armed forces have over the years acquired a range of platforms from diverse sources leading to a buildup of spares and consumables which has resulted in sub-optimal planning and resource allocation. Efforts would be made to adopt a family of weapons approach to standardize and optimize inventory and supply chain management," the policy said. In addition, efforts would be made to provide the industry greater visibility into the likely opportunities in the defence sector. Understanding future capital acquisition priorities will enable industry to develop technologies, carry out necessary ground work and position themselves in an optimal manner to compete at the appropriate time. In order to enhance procurement from domestic industry, it is incumbent that procurement is doubled from the current Rs 70,000 crore to Rs 1,40,000 crore by 2025. In order to achieve this objective, it is proposed to carve out a distinct budget head for domestic capital procurement. The policy will also strive for enhancing allocation for domestic capital procurement at the rate of minimum 15 per cent per annum for the next five years. Various studies have over the years brought out the need to enhance cost effectiveness and improve efficiency in the use of MoD's resources. Efforts would be made to scrutinize, evaluate and optimize various items of expenditure in the Defence budget. The policy says that investment promotion would be encouraged to provide specific focus on certain identified segments and technological areas. Investments in aviation sector which help in co-development and strengthening defence ecosystem would be facilitated in association with the Ministry of Civil Aviation. Efforts would be made to address the identified gaps in those segments and offer incentives to global OEMs and domestic industry to set up design and manufacturing facilities in India. The investments in these segments would also be channelized by offering high multipliers through offsets obligations. Development of aero engines complex is a priority area. While significant improvements have been made, there are still critical gaps in the aero engine segment for future development programmes as well as for taking up the engine related MRO activities of the current inventory of platforms. The two Defence Corridors set up in Tamil Nadu and Uttar Pradesh would be specifically targeted by providing additional support as well as by offering higher multipliers for offset discharge for investments flowing into the Defence Corridors. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/draft-defence-policy-aims-to-achieve-1-75-lakh-crore-turnover-by-2025/articleshow/77342252.cms">Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025</a> <a href="https://www.businessinsider.in/defense/news/fresh-negotiations-between-military-commanders-from-india-and-china-starts-today-to-end-friction-in-ladakh/articleshow/77311439.cms">Fresh negotiations between military commanders from India and China starts today to end friction in Ladakh</a> <a href="https://www.businessinsider.in/defense/news/comparison-of-indias-rafale-fighter-jets-with-chinese-latest-j-20-fighter-jets/slidelist/77238828.cms">India’s Rafale fighter jets — Here’s how it stacks up against Chinese J-20</a>

India's new defence policy proposes a cell to re-engineer armoured vehicles, submarines, fighter aircraft, helicopters and more

<ul><li>Shares of <keyword id="12042070" type="General" weightage="20" keywordseo="defence-equipment-maker" source="Orion">defence equipment maker</keyword> <keyword id="217766" type="General" weightage="20" keywordseo="zen-technologies" source="Orion">Zen Technologies</keyword> have shot up 108% in the last one month.</li><li>The surge in stock was led by the ₹155 crore order of unarmed aircraft systems from the Indian Air Force along with ease in <keyword id="12042071" type="General" weightage="20" keywordseo="drone-policies" source="Orion">drone policies</keyword>.</li><li>The company provides defence training solutions, drones and anti-drone solutions.</li></ul>Shares of defence equipment maker Zen Technologies have zoomed 108% in just 20 trading sessions. In the last one month, the stock has doubled from ₹89 on August 7 to ₹186 on September 7. In the last five days itself, the stock climbed 85% as the company bagged an order worth ₹155 crore from India Air Force (IAF) for the supply of counter unmanned aircraft systems (CUAS). The company also received the order after facing stiff competition due to competitive pricing among others. This order is special for the company and the investors as it is its first significant order in the anti-drone space, and the company remains confident of securing additional orders in the future. <div type="image" title="zen tech" height="900" width="1200" msid="86000056" hostid="261"></div> Zen Technologies manufactures land-based military training and driving simulators, live range equipment and anti-drone systems. The company has highlighted strong demand in training solutions and anti-drone systems in many countries. “This is a significant step toward making India a drone and counter-drone technology export hub. These orders placed on Indian companies can have a multiplier effect on the Indian equipment manufacturers ecosystem because products like anti-drone systems have a high export potential to friendly foreign countries. Anti-drone systems and training solutions are in high demand in many countries,” said Ashok Atluri, chairman, managing director and chief financial officer (CFO) of the company. As of September 3, the company has an order book of ₹402 crore including ₹278 crore domestically and ₹124 crore in exports. Adding to it, the government’s recent move to ease down drone rules in the country also seem to have triggered the stock. On August 27, the government<a href="https://www.businessinsider.in/tech/news/india-is-making-it-easier-to-buy-fly-and-sell-drones-with-these-16-policy-changes/articleshow/85649984.cms"> announced</a> a new set of liberal drone rules in the country wherein approval period for drone flying was reduced, charges for remote pilot licence was cut down with reduction in penalty for violation of rules. Zen Technologies is reportedly the sole listed player active in manufacturing drones in India and is expected to be the key beneficiary of the new rules.

This defence gear maker from Hyderabad has doubled shareholder wealth in just a month thanks to an order from the Indian Air Force

<ul><li>This scheme is likely to change the structure of the armed forces.</li><li>Around 45,000-50,000 people will be recruited under the scheme.</li><li>25% of the candidates will be re-enrolled after 4 years.</li></ul>The Cabinet Committee on economic affairs and the Union Cabinet approved the '<keyword id="287364" type="General" weightage="20" keywordseo="agnipath" source="Orion">Agnipath</keyword>' recruitment scheme for the armed forces. This scheme will enroll soldiers for four years, including a six month training period. Soldiers recruited under the scheme will be called 'Agniveer'. The exact details of the scheme will be announced by the three service chiefs in a press conference on Tuesday, June 14. This scheme which was earlier called Tour of Duty is for individuals who are not keen on a long term military career which includes multiple benefits like pensions and others. Eligible candidates: Individuals between the age of 17-1/2 and 21 years will be allowed to apply for this scheme. Salary: Government announces that the individuals will get allowances and ₹30,000-₹40,000 per month during their training period. The individuals will also be rewarded with awards, medals and insurance covers. Who will get selected? Only 25% of the candidates will be selected and re-enrolled to the cadre. The selections will be based on merit. The selected candidates will serve for up to 15 years. The other 75% of the candidates will be demobilized with an exit package of ₹11-12 lakhs. This package will be funded by the monthly contributions and other rewarded skill certificates to help them go forward in their second career option, a source said. Benefits of the scheme: A current PRS Legislative Research <a href="https://prsindia.org/files/budget/budget_parliament/2022/Defence%20DFG%20Analysis%202022-23.pdf">report</a> says, "The share of pension in the defence budget increased from 19% in 2012-13 to 26% in 2019-20. It has since fallen to 23% in 2021-22 and 2022-23. In the budget for 2022-23, the expenditure on defence pension is estimated to be Rs 1,19,696 crore which is 2% higher than the revised estimate of Rs 1,16,878 crore in 2021-22." The scheme is designed to cut down the concerns of salary and pension bills. The candidates who apply under this scheme will be rewarded with a diploma or credits to use in further education. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/elon-musk-will-address-twitter-employees-this-week-to-present-his-vision/articleshow/92196785.cms">Elon Musk will address Twitter employees this week to present his vision</a> <a href="http://www.businessinsider.in/defense/news/here-is-the-nuclear-weapons-inventory-of-india-and-other-countries/slidelist/92198769.cms">Here is the nuclear weapons inventory of India and other countries</a>

All about the Agnipath recruitment scheme for the armed forces

<ul class="summary-list"><li>Russia opened up a new front in the northern Ukrainian region of Kharkiv last month.</li><li>At the time, things were bleak for Ukraine. Even so, Russia's attack appears to have stalled.</li></ul>Russia is fumbling a golden opportunity in Ukraine as its latest offensive stalls, experts told Business Insider.A month ago, an estimated 30,000 Russian troops began pouring over Ukraine's northern border into the Kharkiv region, opening up a new front for Ukraine's already-stretched defenses.Ukraine was in a particularly weak spot. Yet four weeks later, Russian forces have stalled, and White House National Security Communications Adviser John Kirby <a target="_blank" href="https://www.whitehouse.gov/briefing-room/press-briefings/2024/06/07/on-the-record-press-gaggle-by-white-house-national-security-communications-advisor-john-kirby-on-president-bidens-travel-to-france/">declared the offensive "all but over."</a>Looking back, what's remarkable is "how little so far Russia has actually achieved," Patrick Bury, a military analyst at the UK's University of Bath, told BI.Not only that, the offensive has backfired strategically, prompting the US to allow Ukraine to strike targets on Russian soil using its weapons.<h2 id="4dab54e3-3ab4-40f0-a62f-b806f2e90c1d">A dangerous moment</h2>Rewind one month, things were looking grim for Ukraine.The seeds had been sown much earlier. The monthslong Republican delay over a new tranche of US military aid had left Ukrainian forces desperately short of ammo and equipment.Months of back-and-forth by Ukrainian parliamentarians <a target="_blank" href="https://www.businessinsider.com/ukraine-pass-bill-draft-convicts-fight-in-war-like-russia-2024-5">over the terms of conscription</a> had resulted in a backlog of fresh soldiers reaching the battlefield.And in Russia, President Vladimir Putin was changing up his military leadership, readying to promote a technocrat to Minister of Defence, in a sign that he was getting serious about the needs of a long war,<a target="_blank" href="https://www.businessinsider.com/russia-finally-serious-about-its-war-spelling-trouble-for-ukraine-2024-5"> as Business Insider's Jake Epstein reported</a>.Russia had also begun <a target="_blank" href="https://www.nytimes.com/2024/04/25/world/europe/ukraine-russia-war-chasiv-yar.html">pressuring Chasiv Yar</a>, a strategic town in the eastern Donbas region, probing for a breach in an exhausted front line, while Ukraine was <a target="_blank" href="https://apnews.com/article/russia-ukraine-war-fortifications-8a72981dfdb755de6f8011b13f4d062e">scrambling to build defensive fortifications</a>, leaving its soldiers dangerously exposed.When Putin's forces spilled over the border into the Kharkiv region on May 10, the defenses were so poor that one soldier <a target="_blank" href="https://www.bbc.co.uk/news/articles/c72p0xx410xo">told the BBC</a> that they "just walked in."Ukrainian soldiers also found that their Starlink-powered communications were jammed, <a target="_blank" href="https://www.washingtonpost.com/world/2024/05/17/kharkive-defenses-ukraine-russia-reinvasion/">The Washington Post reported</a>.Twenty miles away was Ukraine's second-largest city: Kharkiv.A smattering of villages quickly fell, and soon Russian forces were claiming they had reached the strategic town of Vovchansk, which straddles a key highway. They didn't get much further.<h2 id="768eb2bf-080c-41b1-9089-86fb08a23fba">Russia wouldn't reach it</h2>Putin likely never had the means to capture Kharkiv city, RAND geopolitical strategist Ann Marie Dailey told BI, and the Russian leader himself <a target="_blank" href="https://www.politico.eu/article/kharkiv-capture-ukraine-war-russian-invasion-vladimir-putin-buffer-zone-belgorod">soon claimed</a> he had no plans to do so.The goal of the offensive, Putin said, was to create a buffer zone on Ukrainian territory to shield the border region of Belgorod from Ukrainian attacks.But it's likely Putin had other goals — and he may have succeeded in some of them, Bury told BI."It had a whole dynamic of panic, a new front close to Kharkiv. Could it rattle the Ukrainians?" he said.The approach might have been one of "suck it and see," he added. "If there is some sort of collapse, if there is a success, we'll reinforce it," he said, describing the likely thinking.Putin also likely wanted to draw off Ukrainian forces from elsewhere.Ukraine had to move badly needed units from Chasiv Yar to repel the attack, Foreign Policy Research Institute Senior Fellow Rob Lee <a target="_blank" href="https://www.fpri.org/article/2024/05/russia-launches-new-offensive-in-ukraine/">told the Chain Reaction podcast</a> soon after the offensive was launched."They have to use their most elite units to plug holes," he said.Even so, it looks like Russian forces were quickly overextended and poorly protected, <a target="_blank" href="https://www.telegraph.co.uk/news/2024/05/21/ukraine-war-russia-putin-kharkiv-attack-failure-brigades/">The Telegraph reported</a>.Nick Reynolds, a land warfare research fellow at the Royal United Services Institute, told BI that if Russia had waited until it was able to bring better-trained units to the fore, its forces might have been able to at least begin to encircle Kharkiv and control key highways.But the Institute for the Study of War <a target="_blank" href="https://www.businessinsider.com/russia-began-kharkiv-offensive-early-trying-beat-ukraine-aid-isw-2024-5">said</a> that Putin may have rushed the offensive in an attempt to get ahead of incoming Western aid — fielding "an understrength force" in the process.<h2 id="5daa836f-271f-43b6-b1f1-2dbaf7201231">A strategic misstep</h2>By mid-May, renewed Western aid appeared to be filtering through to Ukraine — with an influx of Howitzer shells starting to ease desperate ammunition shortages, <a target="_blank" href="https://www.kyivpost.com/post/33005">the Kyiv Post reported</a>.On May 25, Ukrainian President Volodymyr Zelenskyy <a target="_blank" href="https://kyivindependent.com/zelensky-russian-losses-during-kharkiv-offensive-8-times-higher-than-ukraines">said</a> that his forces were killing eight Russians for every Ukrainian lost in Kharkiv — a figure that both Bury and Dailey told BI was plausible given the advantages of defensive action, as well as Russia's notoriously cavalier attitude to its own soldiers.As for Putin's stated goal of creating a buffer zone protecting Belgorod from Ukraine — in effect, he achieved the exact opposite.Belgorod has long been vulnerable to cross-border attacks and had seen <a target="_blank" href="https://apnews.com/article/russia-ukraine-war-belgorod-bd4ea87798ce5161b332e0676558ca24">an increase in drone and rocket attacks</a> throughout the spring, which Russia blamed Ukraine for.But in gaining a small amount of cover for Belgorod, Putin has opened up a far more significant set of possibilities for Ukraine."The problem was strategically, it helped increase the Western understanding of how perilous the situation was getting," Bury said.On May 30, <a target="_blank" href="https://www.politico.com/news/2024/05/30/biden-ukraine-weapons-strike-russia-00160731">Politico reported</a> that President Joe Biden — prompted by the alarming news of the Kharkiv offensive — had quietly shifted on one of his long-held red lines.The White House was now open to allowing Ukraine to strike inside Russian territory using US-made weapons, according to unnamed sources.While Politico said this is only allowed to protect Kharkiv, Dailey said that as far as US red lines go, it's one of the most significant ones crossed so far.Reynolds believes that ultimately, this step was coming anyway. "All the conditions were set for this," he said.But as it stands, the primary goal of Russia's Kharkiv offensive has backfired, Bury added. "The US response has now put Belgorod under fire of better artillery."<h2 id="d780342e-1763-4c1c-ba2c-27645c15dc79">The attack is far from over</h2>While Russia is not banking on a dramatic breakthrough, it still has the initiative, Bury said — especially with its tendency to simply "grind it out" until something gives."That window of opportunity will not close for a while," he added.Ukraine is likely to remain vulnerable for some time, as further military aid slowly arrives."I think that there's a broader offensive effort that you'll see from Russia later in this summer," Dailey told BI. "And so it is very possible that this was a probing attack — theater-setting operations for a larger push later in the year."On Sunday, Russia's forces attacked border towns in Ukraine's northern Sumy region, some 100 miles west of Kharkiv, <a target="_blank" href="https://kyivindependent.com/russia-attacks-6-communities-in-sumy-oblast-7/">the Kyiv Post reported</a>, in a sign that more attacks are to come."The Kharkiv offensive, even if it wasn't what the Russians have hoped for, ultimately in many ways it served its purpose," said Reynolds. "It placed increasing pressure on Ukrainians."He added: "The Ukrainian situation is very worrying."

Russia had a golden opportunity to open a new front in Ukraine but is squandering it, military experts say

With a vision to make <keyword id="68884" type="PERSON" weightage="20" keywordseo="Telangana">Telangana</keyword> a commercial hub for all space-related products and services, the state government has decided to formulate a space-tech policy framework. The policy aims to push domestic production of launch vehicles, satellite systems and sub-systems and ground equipment manufacturing. State's Principal Secretary, Industry and Commerce, <keyword id="130896" type="PERSON" weightage="20" keywordseo="Jayesh-Ranjan">Jayesh Ranjan</keyword>, said on Sunday that Telangana is creating a holistic framework to develop end-to-end spacetech ecosystem in the state and attempt to capture the emerging global opportunities in space-related investments and innovations. This can potentially create a trickle-down impact on other areas of innovation such as universal connectivity and big data analytics for agriculture, remote education, disaster management, he said. Equal emphasis would be given to downstream applications of remote sensing that have the potential to solve real-life problems in agriculture, disaster management, insurance, urban flood modeling and forestry. The Centre's Department of Space recently released the draft Spacecom policy 2020 and draft SpaceRS policy 2020. Officials said states can significantly contribute to achieving the national objectives like "Atmanirbhar Bharat". Telangana is already home to several renowned start-ups such as Skyroot, Dhruva and other major companies in the spacetech sector. The city has collocated facilities of the <keyword id="152819" type="COMPANY" weightage="20" keywordseo="Defence-Research-and-Development-Organisation">Defence Research and Development Organisation</keyword>, the <keyword id="467450" type="COMPANY" weightage="20" keywordseo="National-Remote-Sensing-Centre">National Remote Sensing Centre</keyword>, the Advanced Data Processing Research Institute, the Defence Research &amp; Development Laboratory, the Research Centre Imarat, the Bharat Dynamics Ltd, the Mishra Dhatu Nigam Ltd, the Ordnance Factory Board, the Defence Metallurgical Research Laboratory, and the Advanced Research Centre for Powder Metallurgy and New Materials. To formulate Telangana's spacetech policy framework, the state government held a virtual consultation. It invited stakeholders like hardware start-ups, analytics start-ups and academia to share their insights during a virtual stakeholder consultation. Uma Maheshwaran, Scientific Secretary, ISRO HQs, and Dr Ravi Kumar, Director, NRSC) also attended the event. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-says-its-ingenuity-mars-helicopter-sent-a-positive-status-update-as-it-prepares-for-the-flight-the-agency-is-thinking-about-future-crewed-flights-to-the-red-planet-/articleshow/81140085.cms">NASA says its Ingenuity Mars helicopter sent a positive status update. As it prepares for the flight, the agency is thinking about future crewed flights to the Red Planet.</a> <a href="https://www.businessinsider.in/science/space/news/a-japanese-supercomputer-is-on-a-mission-to-find-out-how-our-universe-went-from-nothing-to-everything-in-less-than-a-microsecond/articleshow/81048254.cms">A Japanese supercomputer is on a mission to find out how our universe went from nothing to everything in less than a microsecond</a>

Telangana government to formulate a space-tech policy framework

The government has permitted <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI) of up to 74 per cent under the automatic route in the defence sector with a view to attracting overseas investors, according to a press note issued by the DPIIT on Thursday. However, foreign investments in the defence sector would be subject to scrutiny on the grounds of national security and the government reserves the right to review any foreign investment in the sector that affects or may affect national security, the Department for Promotion of Industry and Internal Trade (DPIIT) said in the note. As per the current FDI policy, 100 per cent overseas investments are permitted in the defence industry -- 49 per cent under the automatic route, while beyond that government approval was required. According to the Press Note 4 (2020 series): "FDI up to 74 per cent under automatic route shall be permitted for companies seeking new industrial licences". It also said that infusion of fresh investment up to 49 per cent, in a company not seeking industrial licence or which already has government approval for FDI in defence, shall require "mandatory" submission of a declaration with the defence ministry in case change in equity/shareholding pattern or transfer of stake by existing investor to new foreign investor for FDI up to 49 per cent, within 30 days of such change. Proposal for raising FDI beyond 49 per cent from such companies will require government approval, it added. "The decision will take effect from the date of FEMA (Foreign Exchange Management Act) notification," it said. The decision to permit up to 74 per cent FDI in the <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> through the automatic route was announced by Finance Minister Nirmala Sitharaman in May while announcing the fourth tranche of the Rs 20 lakh crore stimulus package for the coronavirus-hit economy. In July 2018, the government had relaxed foreign direct investment norms in the defence sector by allowing up to 49 per cent FDI under the automatic route. The move was aimed at boosting domestic industry as India imports about 70 per cent of its military hardware. According to the DPIIT data, defence industries has received FDI equity inflows of USD 9.52 million (Rs 56.88 crore) during April 2000 and March 2020. Under the government route, foreign investors have to take prior approval of the respective ministry/department, while in the automatic route, the investor just has to inform the RBI after the investment is made. Total FDI into India increased by 18 per cent to USD 73.45 billion in 2019-20. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-enters-the-list-of-top-10-most-valued-companies-in-india/articleshow/78165311.cms">HCL Tech enters the list of top 10 most valued companies in India</a> <a href="https://www.businessinsider.in/science/space/news/first-intact-planet-found-circling-a-dead-star-this-jupiter-sized-anomaly-is-in-orbit-rather-than-being-pulled-apart-at-the-seams/articleshow/78166938.cms">First 'intact' planet found circling a dead star — this Jupiter-sized anomaly is in orbit rather than being pulled apart at the seams</a>

Foreign investors can now pump in up to 74 % FDI under automatic route in India's defence sector

<keyword id="1334" type="General" weightage="80" keywordseo="china" source="Orion">China</keyword> has announced a price war on Elon Musk-run <keyword id="6360701" type="General" weightage="100" keywordseo="spacex" source="Orion">SpaceX</keyword>, with doubling down on reusable rockets as part of its new aerospace programme. A new aerospace launching system is under development in China that requires cutting the cargo cost per kilogram to 5 per cent to that of the existing Long March rockets, reports South China Morning Post. "The Long-Range Aerospace Transportation System, being built at the China Aerospace Science and Technology Corporation (CASC), the nation's largest aerospace defence contractor, can carry more than 60 tonnes of cargo to near-Earth orbit - about the same capacity as SpaceX's Falcon Heavy rocket," the report mentioned. The hypersonic space plane could deliver the same payload from Shanghai to an airport in San Francisco in less than an hour. According to project lead scientist <keyword id="10476941" type="General" weightage="50" keywordseo="song-zhengyu" source="Orion">Song Zhengyu</keyword> of the China Academy of Launch Vehicle Technology, space authorities require the plane to be reused more than 100 times and have fewer than three failures per 1,000 flights. In recent years, SpaceX has also cut its launch cost to about the same as that of the Long March rockets. China also plans to launch nearly 13,000 internet satellites to counter SpaceX's Starlink. Meanwhile, China recently carried out a successful rocket vertical landing test at sea. The technology would lay the foundation for future applications including a recyclable near-space experiment platform as well as the development of space travel, reports state-run Global Times. CAS Space, a commercial spaceflight firm that is partly owned by CAS, revealed that it successfully carried out the launching-from-land and landing-at-sea flight trial in Haiyang, East China's Shandong Province. "The rocket prototype flew at an altitude of more than 1,000 metres, descended in a smooth hovering fashion and then decelerated thanks to the engine reverse thrust," the report mentioned. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-revises-indias-fy24-growth-outlook-expects-softer-inflation-on-the-back-of-lower-commodity-prices/articleshow/99290005.cms">RBI revises India’s FY24 growth outlook, expects softer inflation on the back of lower commodity prices</a> <a href="https://www.businessinsider.in/finance/news/rbis-monetary-policy-committee-keeps-repo-rate-unchanged-at-6-5/articleshow/99284354.cms">RBI’s Monetary Policy Committee keeps repo rate unchanged at 6.5%, for now</a> <a href="https://www.businessinsider.in/stock-market/news/after-the-ides-of-march-analysts-pick-best-stocks-that-can-be-bought-on-dips/articleshow/99272438.cms">After the Ides of March, analysts pick best stocks that can be bought on dips</a>

China wages price war on Musk's SpaceX reusable rockets

<ul><li>Focus on job creation and investment-driven growth should be a primary agenda in this <keyword id="6358021" type="General" weightage="50" keywordseo="budget" source="Orion">budget</keyword>. Infrastructure projects hold the key to the development of any country. </li><li>Tightening of the <keyword id="6357126" type="General" weightage="20" keywordseo="monetary-policy" source="Orion">monetary policy</keyword> and consecutive rate hikes by the RBI as inflation crept impacted the purchasing power capacity of a large section of the populace, especially in the rural sector. </li><li>In this economic climate, where credit availability is facing global headwinds, the government can offer support via credit stimulus to small and medium enterprises.</li></ul>The Union Budget is one of the most anticipated events, closely watched by market participants. By offering a blueprint for the economic roadmap of the union government, the budget often serves as a catalyst that stimulates overall economic and market growth. As the world battles economic headwinds and recessionary trends, all eyes are on the FM and what she will present on February 1. Being the last full-year budget before the Union Elections in 2024, we expect the government to deliver a growth-oriented budget, offering a roadmap to generate gainful employment opportunities without burning a hole in fiscal health. From a market perspective, any announcement or policy draft to bring the oil and gas sector under GST would be positive. The market will also react favorably to any plan to reduce pending receivables of infrastructure companies from government undertakings via a quick dispute resolution process. Moreover, new measures to prod state governments to improve the financial health of electricity companies will also be received well by the market. The markets, however, would be wary of a full-fledged populist budget or a significant increase in subsidies that impact the fiscal consolidation roadmap. These measures can result in a market correction. A substantial rise in borrowings that can increase long-term bond yields could make markets jittery. We believe that in this budget, the government will remain committed to maintaining macroeconomic stability by adopting a fiscal consolidation path. The government is dealing with slowing global growth and macroeconomic uncertainties threatening domestic growth. Against this backdrop, achieving the right balance between growth and inflation, with a focus on capacity building, is crucial. <cmsannotation type="cmsannotation" annotationid="A push to job creation and infra growth" comment="subhead2" text="A push to job creation and infra growth">A push to job creation and infra growth</cmsannotation> Focus on job creation and investment-driven growth should be a primary agenda in this budget. Infrastructure projects hold the key to the development of any country. An emphasis on infrastructure spending and increasing budgetary allocation to infra projects in the upcoming fiscal will be helpful in the push for growth. Steps towards infrastructure development will augment our job creation capabilities as well. Additional focus on building and improving public infrastructure such as water, metro, railways, defence, digital infrastructure, and green initiatives is the need of the hour. It will showcase our true potential as an investment destination, ensure easy and fast movement of goods and services, and help in employment generation. We hope that the upcoming budget takes steps to provide a fresh impetus to private capital expenditure that has been sluggish in the past few years. It will boost investment activities leading to more production and employment. The PLI scheme that offers production-linked incentives to multiple sectors and industries to manufacture domestically has been a huge success. We hope the government takes steps to include more industries and sectors under the PLI ambit. This move will boost manufacturing in India and help drive growth and employment opportunities. <cmsannotation type="cmsannotation" annotationid="Higher rural spending to beat inflation pressures" comment="subhead2" text="Higher rural spending to beat inflation pressures">Higher rural spending to beat inflation pressures</cmsannotation> Inflation has been relatively high in the last fiscal, driven by global cues. A tightening of the monetary policy and consecutive rate hikes by the RBI as inflation crept has impacted the purchasing power capacity of a large section of the populace, especially in the rural sector. We hope the government offers relief measures for those at the bottom of the pyramid. As the rural economy recovers slowly from the pandemic, more policy measures aimed at offering affordable housing options and expanding the scope of employment guarantee schemes will be helpful. Employment and housing are two core areas where government policy in the budget could bring about lasting change. The Economic advisory council to the Prime Minister has spoken about universal basic income and higher fund allocation for the social sector to reduce inequality. More steps in this direction will help augment rural growth and put the country on the path to prosperity and growth. The government can also offer relief by expanding the current income tax benefits for housing to support growth and affordability in rural areas. <cmsannotation type="cmsannotation" annotationid="Small and Medium enterprises" comment="subhead2" text="Small and Medium enterprises">Small and Medium enterprises</cmsannotation> The Indian economy has come out of the pandemic-induced slump and is a shining light, even as global economic growth stalls. In this economic climate, where credit availability is facing global headwinds, the government can offer support via credit stimulus to small and medium enterprises. The banking system is on the cusp of a good recovery with robust balance sheets, improving asset quality trends, and lower provisioning. A stimulus will help credit growth pick up steam. We hope the budget sets a roadmap to build and bolster the entrepreneurship culture in India with new policies and a push for fresh investments in agriculture and allied activities that can be a focus area. The budget should also focus on developing rural industries and improving the reach of healthcare facilities in rural areas. In a nutshell, the budget must focus on driving and sustaining growth via capacity creation. The government must take steps to build on its capital expenditure by fostering private capital expenditure. Making the atmosphere more conducive for capital market investments will help fulfil the dream of making the 20s truly The Indian Decade. (B Gopkumar is MD &amp; CEO, Axis Securities)

You Searched For "new defence policy" and got 10 results

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

ANI

Rajnath Singh releases India's new Defence Acquisition Procedure amid India-China border dispute

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This defence gear maker from Hyderabad has doubled shareholder wealth in just a month thanks to an order from the Indian Air Force

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All about the Agnipath recruitment scheme for the armed forces

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Russia had a golden opportunity to open a new front in Ukraine but is squandering it, military experts say

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Telangana government to formulate a space-tech policy framework

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Foreign investors can now pump in up to 74 % FDI under automatic route in India's defence sector

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China wages price war on Musk's SpaceX reusable rockets

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Conducive capital markets will help fulfil the dream of making this India’s Decade

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