India, Russia entered into 2nd stage of talks for fighter aircraft
The Dollar Business Bureau India and Russia have moved to the second stage of discussions to sign a contract for the joint development of the Fifth-Generation Fighter Aircraft (FGFA) and both the sides will ink a contract very soon, said a top Russian official. Russian state corporation Rostec’s CEO Sergei Chemezov said that all the decisions for jointly developing the FGFA will be finished in the ‘nearest future’. In 2007, India and Russia had signed an inter-governmental agreement for the multi billion dollar FGFA project. “As for the 5th generation (fighter aircraft) - the work is underway. Stage one is over. Now we are discussing the second stage. And I think that in the nearest future, all decisions will be made and the contract ...
Govt. okays Rs.35,500 cr order for Goa shipyard
The Dollar Business Bureau Defence Minister Manohar Parrikar on Tuesday said his ministry has okayed a Rs.35,500 crore order for Goa Shipyard Ltd. He expressed hope the project will generate employment opportunities for the local youth. "We have finalised an order for Goa Shipyard Limited worth Rs 35,500 crore. To execute the order, there will be direct investment of Rs 4,000 crore by the Shipyard," Parrikar said in Goa. He indicated the Shipyard has already begun to work on constructing jetties and other infrastructure, and it would be completed in next one-and-half years. "Goa Shipyard will have a turnover of Rs 3,500 crore annually providing employment to 3,000 youths," he said. Parrikar said the Shipyard would also undertake outsourcing of works which, in turn, would create employment opportunities. The ...
Govt assures support to pvt cos for defence exports
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 ...
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 ...
India to buy 36 ready-fly fighter jets from France
The Dollar Business Bureau The Governments of India and France, on Saturday, agreed and signed various deals which include a long-pending defence deal, among others. According to the defence reports, the Prime Minister has asked the Government of France to supply 36 ‘ready-fly’ Rafale fighter jets to the Indian Air Force, reviving the deal that has been pending over years. Besides defence deal worth around $4 billion, the deals for cooperation in the field of civil nuclear energy, tourism, building smart cities, were also agreed between the two sides. Both sides agreed upon a ‘Jaitapur Nuclear Plant’ deal, as a part of cooperation in the field of civil nuclear energy too. Francois Hollande, President of France, has announced ...
