NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday announced the Union Budget 2024-25 with maximum allocation of resources in defence sector with an increase from last year’s outlay of Rs 5.94 lakh crore. The capital outlay has been pegged at Rs 1.72 lakh crore.After the finance minister announced the budget, defence minister Rajnath Singh said … Read more
“Achche din ki sabse badi guarantee hai the growth in the GDP. So, India having reached fifth largest economy status and all the pundits and all the gurus from IMF to investment houses to all the economists predict that India will be number three in a very short duration of time,” says Puneet Chhatwal, MD … Read more
MUMBAI: The Indian Institute of Technology Madras (IIT Madras) is partnering with Munitions India Limited, a Defence Public Sector Enterprise, to develop India’s first indigenously-designed 155 Smart Ammunition. This initiative will help achieve indigenization in a critical defence sector. The objective is to increase the accuracy of 155 mm shell within a Circular Error Probable … Read more
India has approved its first 100% foreign direct investment (FDI) in the defence sector, permitting Sweden’s Saab to establish a facility for rocket manufacturing. The FDI proposal, valued at less than Rs 500 crore, was given the green light last month, according to an ET report. India currently allows up to 74% FDI in the … Read more