Archive For The “Business” Category

DRDO spends 25% of budget on R&D, says Chairman

Defence Research and Development Organisation (DRDO) Chairman Dr Satheesh Reddy said they were spending 25 per cent of the budget on research and development (R&D).”The DRDO has been spending around 20-25 per cent of the budget on R&D,” Dr Reddy said while talking about ‘technology for national security’ at the Institute for Defence Studies and […]

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Boeing plans to build 21st-century aerospace ecosystem in India

Eyeing India’s multi-billion dollar fighter jet market, Boeing has offered to build a 21st-century aerospace ecosystem in India for co-developing F/A-18 Super Hornet upgrades as part of the country’s advanced medium combat aircraft (AMCA) programme. Two major American fighter jets manufacturers – Boeing and Lockheed Martin – are in the race for the Indian fighter […]

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China to build moon station in ‘about 10 years’

Beijing plans to send a manned mission to the moon and to build a research station there within the next decade, state media reported, citing a top space official. China aims to achieve space superpower status and took a major step towards that goal when it became the first nation to land a rover on […]

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HAL resumes tests of jet trainer

Hindustan Aeronautics Ltd (HAL) said it has resumed test-flying its intermediate jet trainer (IJT) in a modified version after a gap of almost three years.The first renewed test from its Bengaluru facilities was “flawless”, a statement said: “Its success is an important step [in] the IJT programme.”HAL had halted flight tests of the IJT in […]

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L&T MBDA seeks approval for SEZ unit to assemble missile sub-systems

L&T MBDA Missile Systems Ltd, a joint venture between engineering conglomerate Larsen & Toubro and France’s MBDA, has urged the government to grant a provisional Letter of Approval (LoA) for the company’s proposed Special Economic Zone (SEZ) unit in Coimbatore to start construction of facilities. L&T MBDA is awaiting an industrial licence, and export orders […]

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Army set to get its first consignment of Spike anti-tank guided missiles under emergency purchases

The Israeli Spike anti-tank guided missile (ATGM) is a weapon system the Indian army has been looking for, particularly to protect its infantrymen and then, its tanks against enemy armour. Now, after months of waiting, the Army will get its first consignment– a small one, though– of the Spike. The Rs 280 crore deal gets […]

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Indian missiles sought after by many foreign countries: Sitharaman

Asserting that several foreign countries want to get Indian missiles in their inventory, Defence Minister Mrs Nirmala Sitharaman said there was an export potential of sale of homegrown defence products. The statement assumes significance as traditionally India has been a major arms importer and still depends on foreign vendors for around 50 per cent of […]

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FY 2018-19: HAL Turnover Crosses 19,400 Crores

Hindustan Aeronautics Limited recorded a turnover of over Rs. 19,400 crores (provisional and unaudited) for the financial year ended on March 31, 2019 (corresponding figure for the previous year was Rs. 18,284 crores).  The Company has posted a revenue growth in excess of 6% during 2018-19 as compared to 3.8% during 2017-18. The performance of […]

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New Private Firm to Aid Commercial Transfer of ISRO Technology

A private entity, Bengaluru-based Newspace India Limited, has been set up under the Department of Space to aid the transfer of ISRO technologies for commercial purposes. The company was incorporated on March 6 with Mr Radhakrishnan Durairaj and Ms. Suma Devaki Ram as directors and a paid-up capital of Rs 10 crore. This has come […]

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Tamil Nadu govt wooing HAL to set up manufacturing facility at Salem

The Tamil Nadu government is impressing upon Hindustan Aeronautics Limited to set up a manufacturing unit at Salem as the state has been chosen for establishing the Centre’s ambitious defence corridor, a senior official has said. The move is a part of the ‘Make in India’ programme to catalyse indigenous production in defence manufacturing. “(In) Salem, we are looking […]

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