Search Result for : Ministry Of Defence

The Dollar Business Bureau Targeting a highest ever revenue at Rs.17,900 crore for current financial year, state-owned aerospace and defence firm, Hindustan Aeronautics Limited (HAL) on Wednesday signed a Memorandum of Understanding (MoU) with the Ministry of Defence (MoD).  HAL has also put special emphasis on modernisation, capacity building and solar power plants, with the aim to attain a capital expenditure (capex) of Rs.1,300 crore, the company said in a statement. The MoU has charted out the targets on several performance parameters for the current fiscal. The MoU was signed by Ashok Kumar Gupta, Secretary in the Department of Defence Production, on behalf of Defence Ministry and T Suvarna Raju, CMD, on behalf of HAL. “The company’s thrust is on ‘Make in India’ projects such as Hindustan Turboprop ...

The Dollar Business Bureau  Reliance Defence and Engineering Ltd (RDEL), a fully-owned subsidiary of Reliance Infrastructure Ltd (RInfra), has signed a contract worth Rs.916 crore with Ministry of Defence for designing and construction of 14 fast patrol vessels (FPV) for the Indian Coast Guard. Ministry of Defence has undertaken a competitive bidding process, in which RDEL emerged a winner among participants of all public and private sector shipyards including L&T, Goa Shipyard Ltd, Cochin Shipyard Ltd, Garden Reach Shipbuilders & Engineers Ltd (GRSE), said a statement released by the company. It is for the first time that a private player has been given a contract for designing and building such class vessels for India’s Armed Forces. RDEL will develop the design at its in-house facility, ...

The Dollar Business Bureau India is committed towards modernisation of armed forces with the current government having cleared more than 2 lakh crore worth defence acquisition since it came to power and is resolved to order 3 lakh crore by the end of this financial year, informed Defence Minister Manohar Parrikar while speaking at a seminar organised by FICCI with active participation of the Indian Navy in New Delhi. The International Seminar on Current and Future Challenges in Design and Construction of Underwater Vehicles had Parrikar commend the Indian Navy for indigenously designing and constructing the advanced front line warships such as destroyers, frigates, anti-submarine warfare corvettes, landing crafts. The armed forces is also constructing an aircraft carrier he said. The minister shed light ...

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 Dollar Business Bureau Ministry of Defence has ensured that Indian Micro, Small and Medium Enterprises (MSMEs) can participate in the defence sector for hi-tech products and services, said Kalraj Mishra, Union Minister of Micro, Small and Medium Enterprises. “MSMEs can look forward to aligning themselves into the supply chains of Indian and international defence majors,” the Minister said while inaugurating a seminar organised by ASSOCHAM on Friday. The minister informed that from the month of April 2015, all PSUs and departments of central government have been given directives to source minimum 20% of their products and services requirements from MSMEs. “This move will allow the small startups to participate in the 20% mandatory public procurement,” he added. Mishra also stated that direct investment ...

The Dollar Business Bureau  The negotiations over the deal of 36 Rafale fighter jets between India and France is in its final stages, with the deal to be settled down at around Rs.65,000 crore ($9 billion), according to the sources from the Ministry of Defence.  Both the countries were hopeful of closing the strategic deal during the visit of French President Francois Hollande to India in January, but things didn’t materialise over price negotiations.  The development in the 36 Rafale combat jets deal came after the two countries managed to curtail off their differences over the matter of pricing. The sources from ministry said, “The deal is in the “final stages” yet. However, the final deal could be closed by May end, this ...

The Dollar Business Bureau  Inaugurating the 9th edition of Defence Expo India, a biennial event to exhibit India’s sophisticated military systems and technologies, Defence Minister Manohar Parrikar on Monday introduced the new Defence Procurement Policy, which, he said, would give a thrust to Make in India programme as well as ensure transparency and expediency in defence-related transactions. Earlier this month, the defence minister had confirmed that the new policy is being finalised and will be unveiled during the upcoming defence expo event. He had said that the policy is being restructured with an aim to utilise and consolidate development and manufacturing of the existing defence infrastructure, and certain amendments will be made in this regard to simplify the existing offset processes. ...

The Defence Procurement Procedure 2016 is likely to be issued soon with "path-breaking and game-changing" reforms, focusing on indigenisation, Make in India, growth of MSMEs, skill development, job creation and technology adoption. Source: PTI Defence Procurement Policy aims to cut down the process and time required to realise state-of-art defence equipment   The Defence Procurement Procedure 2016, which is expected to be promulgated soon, aims at making India self-reliant in defence equipment, a senior defence official said here on Tuesday. "The Make in India initiative by government of India is envisaged to develop skills and reduce dependency on foreign OEMs (original equipment manufacturers) in various areas of manufacturing, including electronic systems. A step in this direction is the much-expected promulgation of Defence Procurement Procedure ...