India to buy $2 billion missile systems from Israel
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 ...
HAL, Safran sign a JV for support center in India
The Dollar Business Bureau Hindustan Aeronautics Ltd and France based Safran Helicopter Engines have partnered to set up a support center in India for international and domestic rotorcraft customers. The center will offer maintenance, repair and overhaul (MRO) services to Safran TM333 and HAL Shakti engines, which run HAL manufactured choppers. Safran and state-run HAL will offer first class services to the customers, including optimized engine availability, said the statement released by the Indian helicopter manufacturer. Safran is a top-notch globally recognized maker of gas turbine engines for both military and civil jets. With about 1,000 engines including 250 Shakti and 250 TM333, Indian armed forces are one of the largest users of Safran-designed helicopter engines. 250 Shakti is the Indian name for Safran’s Ardiden 1, jointly ...
Parrikar sets $2-bn target for defence exports in 2 yrs
The Dollar Business Bureau Defence Minister Manohar Parrikar has set a target of raising India’s defence exports to $2 billion in the coming two years. He said this during the Aerospace and Defence Summit held by Automotive Component Manufacturers Association of India in New Delhi. Indian defence exports have almost doubled from around $140- $150 million to reach $330 million at present. The government’s push in exports has shown good results. The Defence Minister has set a target to touch $2 billion defence exports in the next two years. The target is not impossible to reach as defence offsets are in the area from where exports as well as expertise can come to the country, the minister said. Parrikar said that the ‘Make ...
HAL finishes Rs.4.77 cr Kumudvathi rejuvenation project
The Dollar Business Bureau Hindustan Aeronautics Limited (HAL), the state-run aerospace and defence company, said today that it has completed the Rs.4.77 crore river rejuvenation project of Kumudvathi River - near Nelamangala taluk in Bengaluru Rural district of Karnataka. According to a company release, T Suvarna Raju, Chairman and Managing Director (CMD), HAL has given possession of the project to the panchayats of the beneficiary villages of Nelamangala. “We are really happy for contributing to such a noble cause of rejuvenating dried natural resources of water at this crucial moment, when water has become a valuable commodity everywhere,” Suvarna Raju said. “We hope that our efforts will provide a new lease of life to the region’s natural habitat and we will carry on our ...
Indo-US new defence framework to ease technology transfer
Sai Nikesh | The Dollar Business India and the United States, as a part of defence cooperation, have finalized a new framework agreement which would be a replacement to the existing deal, that was supposed to expire in June 2015. The new defence framework is expected to facilitate synchronization between the armed forces of the two countries, along with creating a larger scope for technology transfer in defence between the two economies. According to the defence reports, the deal will make the process easier for American firms to share their military technology with India and also actively participate in manufacturing of weapon systems jointly with India. Meanwhile, the Union Defence Minister, Manohar Parrikar, said that a dialogue has been ...
