DEFENCE COOPERATION PROGRAM
Don't write off Modi stocks: More than half are back in full throttle, budget may bring more tailwinds for them
It has been a sort of tradition that the last full budget of any government and also the interim government is focussed on garnering votes and generally fiscal prudence is kept aside. But in the case of the Modi government, both in the last full budget presented in 2023 and interim budget presented in 2024, fiscal prudence was maintained. Given that government revenues are on strong footing, even if the government announces some measure which on face of it might look to be politically correct. There is little chance that fiscal prudence would be kept aside and that is what matters in the end to the street. So, there is a possibility that Modi stocks, which have been the star performers in the first five months of 2024, will be back in the limelight. Don't write them off. More than half of them are already higher than what there was before the election results came in. The policy push may continue for lots of sectors which have been the focus area of this government.
F-16s' arrival not a silver bullet for Ukraine in war with Russia
The U.S.-built F-16 fighter jets destined for Ukraine from Denmark and the Netherlands are anticipated to enhance Ukraine's air defenses amid ongoing Russian attacks. Despite the delayed process, which has allowed Russia to fortify its defenses, these jets are seen as crucial for bolstering Ukraine's depleted air force. Analysts suggest the F-16s, though symbolically significant, may have a limited immediate battlefield impact. Challenges remain in training Ukrainian pilots, maintaining the aircraft, and securing vulnerable air bases from ongoing Russian assaults. Ukraine aims to deploy these jets strategically despite logistical and operational hurdles.
Forgot Modi stocks? Numbers indicate don't write them off. 26 are already back. Budget tailwinds may bring more of them back to limelight again
Just before the election results were announced, some domestic and foreign brokerages came out with a report about a set of stocks which were called Modi stocks. The number varied from 50 to 55 stocks. The reason why they were called modi stocks was the fact that these stocks were from sectors which were expected to get renewed policy push once the third term of the Modi government started. This list had stocks which would power data centers, which is essentially an AI play to green energy stock to PSU stocks from sectors which were getting strong policy push. But then political arithmetic turned different and everybody forgot about them. One month later, if one looks at them, it is clear that while the term “ Modi stocks” might be off the headline, in terms of performance, the picture is very different from what most have been thinking. It is far better and there is a high probability that it might get better.
McLaren to partner with British Defence Ministry in its hypersonic missile development program
Car manufacturer McLaren has announced its collaboration agreement with the British Defence Ministry. The two sides will partner on the development of hypersonic missiles. McLaren will not actually develop any missile.
India expands military training for foreign partnerships across Gulf, ASEAN, and Africa
India has significantly expanded its military training programs to strengthen defence partnerships with Gulf, ASEAN, and African nations. Initiatives range from basic infantry skills to advanced systems like submarines and fighter jets. Recently, 76 cadets from Saudi Arabia's King Fahad Naval Academy trained at India's Southern Naval Command in Kochi, focusing on maritime operations and seamanship. India hosts personnel from 26 African countries annually, providing training in counterinsurgency and jungle warfare.
China keeps its distance as Russia and North Korea deepen ties
China reacted guardedly this week as Russia and North Korea deepened their ties and vowed to resist the U.S.-led West, with Beijing avoiding any trilateral arrangement that might complicate its relations with other countries. On Wednesday, Beijing watched from the sidelines as North Korean leader Kim Jong Un shared his "in-most thoughts" with visiting Russian President Vladimir Putin in Pyongyang.
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India-US advance talks on joint production of Stryker armoured combat vehicles
India and the US are in advanced negotiations to co-produce the latest generation of Stryker armoured infantry combat vehicles (ICVs). This three-phase project includes initial purchases, joint production in India, and co-development of future versions, supporting India's "Atmanirbhar Bharat" mission. Customization for Indian terrain, high-altitude areas, and significant technology transfer are key aspects. This collaboration, promoted by the US as part of their strategic defence partnership, aims to modernize India's mechanized infantry, replacing over 2,000 outdated BMP-II vehicles. The Stryker offers advanced capabilities, enhancing India's defence industry and military readiness.
Ukraine examines North Korean missile debris amid fears of Moscow-Pyongyang axis
In previously unreported details of an investigation under way into the missiles, the office of Ukraine's top prosecutor, Andriy Kostin, also told Reuters that the failure rate of the North Korean weaponry appeared to be high.
India-Uzbekistan defence collaboration: General Manoj Pande inaugurates state-of-the-art IT lab
The Chief of the Army Staff, General Manoj Pande, recently inaugurated a high-tech IT Laboratory at the Uzbek Academy of Armed Forces during his visit to Uzbekistan from April 15-18. This initiative marks a significant milestone in the defence cooperation between India and Uzbekistan, following a commitment made during the Defence Ministers' meeting in 2018. The IT Lab, funded through the Ministry of External Affairs' 'c' initiative, is equipped with cutting-edge technology, including lecture halls, a Cybersecurity Lab, and various programming labs, enhancing the training resources available to Uzbek armed forces and strengthening bilateral ties between the two nations.
India-US ESG discusses defence cooperation, highlights comprehensive partnership
The India-US Executive Steering Group (ESG) meeting at the US Army Pacific Headquarters in Hawaii was a key platform for discussing defence cooperation engagements. Led by Lt Gen TK Aich DCOAS (Strategy), the Indian delegation was briefed on the capabilities of the Lightning Academy and Aviation Brigade. This meeting underscores the comprehensive global strategic partnership between India and the US, driven by shared democratic values and vibrant people-to-people contacts. The recent Tiger Triumph 2024 exercise showcased deepening military ties, including cross-deck helicopter operations and joint HADR operations.
Joe Biden and Fumio Kishida agree to tighten military and economic ties to counter China
President Joe Biden and Prime Minister Fumio Kishida of Japan announced strengthened military, economic, and other cooperation between their countries to counter China's actions in the Indo-Pacific region. This includes creating an expanded defense architecture with Australia, participating in military exercises with Britain, and exploring Japan's entry into a U.S.-led coalition with Australia and Britain. Additionally, the U.S. will take a Japanese astronaut to the moon as part of NASA's Artemis program, marking a significant upgrade in the alliance. Kishida also reaffirmed Japan's support for Ukraine, framing the conflict as relevant to East Asia's future security.
Greek military chief to visit India next week to sign Military Cooperation Program
India and Greece strengthen defence ties through joint activities, including the potential import of BrahMos missiles for regional deterrence, emphasizing a rules-based Indo-Pacific and Mediterranean Sea for international peace and stability.
Why is Japan changing its ban on exporting lethal weapons, and why is it so controversial?
Japan's Cabinet approved selling future fighter jets to other countries, marking a shift from its pacifist principles. The decision aims to boost Japan's arms industry and global influence. The new fighter jet, developed with Italy and the U.K., will enhance Japan's defense capabilities. The move is influenced by regional tensions and aims to strengthen Japan's military role.
Japan signals interest in AUKUS defence tech partnership
Japan is interested in discussing cooperation with the United States, Australia and Britain on advanced military technology, an official said Wednesday, signalling Tokyo could become more involved in the trio's landmark security partnership AUKUS. An official from Japan'that the government supported AUKUS' efforts in the Indo-Pacific region and was looking at how to deepen cooperation. "Japan is interested in the possibility of technical cooperation in the field of advanced capabilities, and so will continue to strengthen cooperation with Australia, the US and the UK," the embassy said in a statement.
Mahindra, Embraer tie up for medium transport aircraft in India
Embraer Defense & Security and Mahindra have inked an MoU to potentially establish India as a hub for the C-390 aircraft. They aim to secure a contract with the Indian Air Force for medium transport aircraft. This partnership will introduce advanced aerospace and military transport technology to India.
CDS Anil Chauhan, US Indo-Pacific Command head discuss contemporary security challenges
Indian Chief of Defence Staff, General Anil Chauhan, and US Indo-Pacific Command head, Admiral John C. Aquilino, discussed bilateral defence cooperation and security challenges in a video call. Both nations aim to strengthen India's defence modernization, co-producing fighter jet engines and Stryker armoured vehicles under the US-India Defence Industrial Cooperation. The release emphasized joint military exercises, like Exercise MALABAR, and US investments exceeding $1.2 billion to enhance Indo-Pacific partners' capabilities and maritime awareness, fostering stability in the region. The Indo-Pacific collaboration reflects a shared commitment to peace and security.
N. Korea's Kim Jong Un calls for 'accelerated' war preparations
North Korean leader Kim Jong Un urged his party to "accelerate" war preparations including its nuclear programme, state media said Thursday. Kim asked the party to "further accelerate the war preparations" across sectors, including nuclear weapons and civil defense, Pyongyang's official Korean Central News Agency reported.
US deploys cutting-edge military capabilities in Indo-Pacific, supports India's defence modernization plans
Calling 2023 a 'decisive year', the US Department of Defence, in an official release has stated that it is supporting allies and partners as they invest in their capabilities.
Explainer: US, Asian allies launch system to track North Korea missiles in real-time
South Korea, the United States and Japan said on Tuesday they have activated a new system to detect and assess North Korea's missile launches in real-time. The announcement comes after North Korea said it had tested the isolated state's newest intercontinental ballistic missile (ICBM) on Monday to gauge the war readiness of its nuclear force against mounting U.S. hostility.
"Defence forces of India, Kenya to work together" says Kenyan President William Ruto
Kenya's President William Ruto emphasized the mutual concern of terrorism for both India and Kenya, announcing a collaborative effort between their defense forces. During his meeting with Prime Minister Narendra Modi, Ruto expressed gratitude for India's support in marine research related to Kenya's blue economy. He also acknowledged India's proposed $250 million aid for Kenya's agricultural mechanization.
North Korea's Kim says satellite launch was exercise of right to self-defence
North Korea's Kim Jong Un defends the spy satellite launch as self-defense, asserting its global strike capability. The launch violates UN resolutions, drawing international condemnation. Kim lauds scientists, stressing the satellite's importance for self-defense against perceived threats. Celebrations ensue, showcasing Kim's family and engineers. South Korea suspects Russian technical aid in the launch amid growing North Korea-Russia ties. The satellite's functionality remains under assessment after entering orbit, as stated by South Korean officials.
Tech transfer, joint exercises will take defence ties to new levels
India and Tanzania have upgraded their ties to a strategic partnership during Tanzanian President Samia Suluhu Hassan's visit to India. Tanzania is looking to enhance its defence cooperation with India, focusing on areas such as technology transfer, capacity building, joint military exercises, and defence equipment procurement. The two countries also have a growing maritime partnership, with collaboration in maritime security, trade, mapping of maritime resources, and blue economy development. Tanzania is optimistic about strengthening bilateral relations with India, particularly in terms of trade, investment, and development cooperation. They are also seeking Indian investments in key sectors such as health, agriculture, education, ICT, energy, mining, manufacturing, tourism, cyber security, and space technology.
Indian Navy to unveil new Autonomous boat swarms and AUVs at Swavlamban seminar
India is gearing up for the second edition of the Naval Innovation and Indigenization Seminar, which will showcase groundbreaking developments including Autonomous Weaponized Boat Swarms and Autonomous Underwater Vehicles (AUVs). The Indian Navy has partnered with Sagar Defence Engineering Pvt. Ltd for the advancement of the boat swarms, and has also procured 30 AUVs from the company.
Kazakhstan ready to be hub for Indian investments in region, says Kazakh envoy to India
Kazakhstan has ranked 25th in the World Bank's Ease of Doing Business Report. The country aims to enter the top 10 countries within 5 years. Kazakhstan is India's main trading partner in Central Asia, with bilateral turnover exceeding that of all other countries in the region. Kazakhstan offers over 200 project packages in various sectors, and the office of KAZAKH INVEST in India is ready to assist investors.
L&T, Navantia sign teaming agreement for Project 75 (India) submarine program
Larsen & Toubro (L&T) on Monday said it has signed a teaming agreement with Spain-based Navantia for submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine programme. P75 (India) Submarine Project is expected to be valued at €4.8 billion (over Rs 43,500 crore) and is India‘s largest defence acquisition project.
View: The importance of timing for tech collaboration between India and US and possible roadblocks
Biden's reference to his administration's commitment to work with US Congress to lower barriers for US exports to India of high-performance computing (HPC) technology and source code is important. For decades India has struggled to get support from the US. France helped India's HPC sector and many critical projects like weather prediction.
Indus-X event aims to boost Indo-US defence partnerships under iCET
Defence innovation stakeholders from across the governments, academic and research organizations, investors, defence firms, technology incubators, industry associations, and other start-up enablers came together to develop ambitious initiatives to drive INDUS-X forward.
India, US near deal to build fighter jet engines in boost to PM Modi's defence manufacturing plan
The jet engine agreement would fit in with Modi’s wider push to boost defense manufacturing locally but with technology partnerships with nations that are keen to draw New Delhi into their orbit as Russia’s war in Ukraine drags on into a second year.
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