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The Dollar Business Bureau Israel Aerospace Industries (IAI) the official branch of Israel defence said today that it has signed another deal worth $630 mn to supply Long Range Surface to Air Missile (LRSAM) systems to the Indian navy. The deal would be jointly executed by Bharat Electronics Ltd (BEL) serving as the main contractor in the project, IAI and DRDO. The development of the missile in India would give a boost to the PM’s Make in India campaign. This is also going to be Israel’s largest defence contract with India which is worth $2 billion. It is aimed to equip the Indian navy with state-of-the-art missile defence systems. IAI will be developing the LRSAM systems in joint collaboration with Defence Research and Development ...

The Dollar Business Bureau India, one of the world's largest defence importers, and Israel, globally known as a top exporter of military prowess, have signed a historic defence trade deal of $2 billion. Under the said deal, Israel will provide India with advanced surface to air missile (SAM) systems. These defence systems are used to target enemy aircraft, drones and missiles within a 50 km - 70 km range. The mega defence deal is a big step towards expanding bilateral defence cooperation between the two countries ahead of PM Modi's visit to Tel Aviv in July, 2017. This will also give a fillip to the total trade between India and Israel which stood at $4.9 billion as of 2015-16, registering negative growth every year since 2011-12, when it was at a high of $6.7 billion. Under the agreement, Israel has agreed ...

Neha Dewan Dr. G Satheesh Reddy, Scientific Advisor to Raksha Mantri, said on Tuesday that strategic and futuristic technology in the defence sector can only come through real partnership with industry. “Industry should use imagination and innovation to build products for tomorrow,” he said while delivering the inaugural address at DEFTECH 2016 – Realising Make in India through Defence R&D -- organised by CII and supported by Defence Research and Development Organisation (DRDO). He further said that ‘Make in India’ should not stop at ‘Build to Print’ but also include indigenous design, development and manufacturing. Reddy urged the industry to engage with incubation centres of various universities which would complement the research initiatives of DRDO.   Senior officials from the Indian Armed Forces, Ministry ...

The Dollar Business Bureau Union Defence Minister Manohar Parrikar has assured the Indian private sector to offer complete support from the Ministry of Defence, Defence Research and Development Organisation (DRDO) and the Defence Public Sector Undertakings (DPSUs) in realising the national objective of defence exports to friendly countries at competitive prices. He said this during his official visit to Hanoi, Vietnam on Monday. Indian private sector should take the initiative in the modernisation of Vietnam’s defence forces. This will strengthen the diplomatic and military ties between both the countries. Also it will open the doors of strategic exports from India, the minister said. In his visit to Vietnam, he was accompanied by a composite defence delegation from India. Along with the minister, they ...

The state will set up an aerospace academy in collaboration with a French company Sai Nikesh | The Dollar Business Frederic Woringer, Director, International Chamber of Commerce and Industry, Bordeaux, addressing the second day of 2nd Defence & Aerosupply India 2015 event in Hyderabad on Tuesday.   The government of Telangana along with the central governments key departments like DRDO and NITI Aayog is organizing the 2nd Defence & Aerosupply India 2015 event in Hyderabad from November 30- December 2. The event that witnessed representations from various government departments and defence and aerospacemanufacturing companies from all over the world focused on transforming the newly-formed Telangana state into an aerospace and defence hub. On second day of the event on Tuesday, ArvindKumar,Principal Secretary Industries, Telangana, informed ...

The Dollar Business Business India has the potential to increase its defence exports by 10 times in the next two-three years, according to Defence Minister Manohar Parrikar. “There is a potential of $1 billion worth of exports of technology products developed by DRDO (Defence Research and Development Organisation) in two-three years,” Parrikar said at a function in New Delhi on Wednesday. At present, the country’s annual defence export is estimated to be at the level of $100 million. According to the annual report of the Ministry of Defence, the country’s defence export was worth Rs.686 crore ($103.78 million) in 2013-14, which was up from Rs.460.97 crore in 2012-13. To increase domestic production and reduce dependence on imports, the defence minister said the ...

 The Dollar Business Bureau India needs to have a long-term strategy to ensure the growth of the defence industry involving private players as production partners, said former president and scientist APJ Abdul Kalam. Kalam, who has spent decades with the Defence Research and Development Organisation (DRDO) and Indian Spare Research Organisation (ISRO), said that regulations and control procedures should be implemented in managing private industries for manufacturing of defence systems. “Encouraging high-technology tie-ups and joint ventures between Indian and other global defence industries will achieve not only competitiveness but also envisage the product for export. India cannot afford to lose any more time in pondering the issue,” he said. Kalam also insisted for the setting up of a national-level ...

Jayarama Emani | The Dollar Business The government, which is looking for foreign direct investment (FDI) in the defence sector and has increased the FDI limit to 49%, must also ensure that there is an increase in technology transfer component too, said a defence expert. Speaking exclusively to The Dollar Business on FDI and domestic growth on the inaugural day of the two-day ‘Make in India -Opportunities and Challenges’ National Seminar organised by the Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI), on April 24, 2015, Dr G Satheesh Reddy, Director, Defence Research and Development Organisation (DRDO), said “Naturally, I don’t want our industries to be just BTA, BTP fellows, so you are given a ...