DOMESTIC AMMUNITION PRODUCTION
Defence Ministry announces fifth Positive Indigenisation List of 346 items to be procured domestically
According to a press release by the Ministry of Defence, this latest list comprises 346 strategically important items, including Line Replacement Units, Systems, Sub-systems, Assemblies, Sub-assemblies, Spares, Components, and raw materials. The import substitution value of these items is estimated to be Rs 1,048 crore.
Explosive growth: How defence sector became a darling of investors
Motilal Oswal Nifty India Defence Index Fund breaks records by collecting Rs 1,676 crores during its NFO period. India's defence sector experiences growth through indigenisation efforts and increased investments. The country aims to enhance its defence production capabilities and boost exports in the coming years.
Indian Army reduces ammunition imports, boosts indigenous production under 'Make in India' policy
The Indian Army has significantly reduced its dependency on imported ammunition thanks to the 'Make in India' policy. By leveraging private sector capabilities and public sector firms, the Army aims to cease most ammunition imports within a few years. This shift not only cuts import costs but also enhances export potential. Key industry players, including Munitions India Limited and Solar Industries Limited, play crucial roles in this transition, ensuring readiness for emergencies.
Shot by shot, Indian military is getting atmanirbhar
The government aims to increase India's annual defense production to nearly three times its current level, reaching Rs 3 lakh crore by 2028-29. Additionally, the target for defense exports is set to more than double, reaching Rs 50,000 crore compared to the current Rs 21,083 crore. For the fiscal year 2024-25, the goal is to achieve a total annual defense production worth Rs 1,75,000 crore, including exports valued at Rs 35,000 crore.
No import of ammunition from next year: Army
The Indian Army plans to stop all imports of ammunition from the next financial year, as the domestic industry has increased its capacity to meet demands and potentially gain a share of the global market. The army has found indigenous sources for nearly 150 of the 175 ammunition types it uses, and aims to completely cut off imports by 2025-26. With gradual curbs on imports, only 5-10% of requirements are met from foreign suppliers.
NATO marks its 75th birthday as war in Ukraine and rising populism gnaw at its unity
Sweden's foreign minister, Tobias Billstrom, is taking part in the first ministerial-level meeting since his country became NATO's 32nd ally last month. Russia's full-scale invasion of Ukraine in February 2022 drove Sweden and its Nordic neighbor Finland into NATO's arms.
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India Playbook 2024 – the India defence equity market story
Indian defence sector stocks excel globally, benefiting from geopolitical risk, domestic manufacturers' rise, and strong order books. The sector shows resilience amidst global market fluctuations and government's increased defense expenditure, positioning for sustainable growth. India's aerospace industry has many legs of growth and Hindustan Aeronautics is the key player in the space.
Putin predicts Russia's economy is poised to soar in purchasing power terms
In a speech to lawmakers and other elite members, President Vladimir Putin highlighted Russia's economic progress, stating it would soon be among the world's top four economies in terms of purchasing power parity. He acknowledged challenges like labor and technology shortages and emphasized the need for proactive solutions. Despite relying heavily on state-funded arms production due to the war in Ukraine, Russia's GDP rebounded in 2023, with diversification efforts showing some success. Putin stressed the importance of creating globally competitive products in strategic sectors to drive industry renewal and enhance competitiveness.
Russia lacks ammunition production needed for Ukraine war, Western officials say
Russia is reportedly facing challenges in meeting its ammunition needs for the Ukraine war due to insufficient domestic production and the impact of sanctions on its military industry. Western officials noted that Russia's inability to access Western components was hampering its ability to produce new systems and repair old ones. These challenges come as the conflict enters its third year, with Russia claiming control of the town of Avdiivka and warnings of ammunition shortages in Ukraine.
IIT Madras to spearhead development of India’s first Indigenous 155mm Smart Ammunition
IIT Madras and Munitions India Limited have united to pioneer India's first domestically designed 155 Smart Ammunition, a monumental step towards defence self-reliance. The project aims to drastically improve accuracy to a Circular Error Probable (CEP) of 10 meters, enhancing precision in defense operations. Utilizing advanced technologies and Indian satellite systems, the ammunition promises compatibility, seamless integration, and diverse tactical capabilities, signaling a leap forward in India's defense prowess and commitment to 'Aatmanirbhar Bharat'.
Brazil pitches for 'Scorpene Club' of nations as Macron visits India
In an interview with ET, the Brazilian Secretary of Defence Products said that other areas of cooperation include the possibility of forming a Scorpene club of nations that produce and operate the submarines where best practices and technologies can be exchanged.
Year-ender: 2023 witnesses record defence exports, all-time high productions
The year 2023 was a landmark year for the Ministry of Defence as it witnessed defence exports reaching an all-time high--almost Rs 3,000 crore more than the previous financial year--and defence productions crossing the figure of Rs one lakh crore for the first time.
India announces fresh 'positive indigenisation list' to boost domestic defence manufacturing
The new "positive indigenisation list" is in continuation of the first four such lists, which contained a total of 411 military items. Separately, the Department of Defence Production notified four positive indigenisation lists consisting of 4,666 items, including line replacement units, sub-systems, spares and components for Defence Public Sector Undertakings (DPSUs), according to the defence ministry.
Ukraine plans big rise in defence spending in 2024 draft budget
Prime Minister Denys Shmyhal said the increase in defence spending was needed to fund Ukraine's war effort following Russia's full-scale invasion in February 2022.
BEL eyes Rs 20,300 crore turnover in 2023-24 with push from indigenous products expected to drive growth
State-run Bharat Electronics Limited has set a target of Rs 20,300 crore for financial year 2023-24 as demand for indigenous products is driving growth for the company, its Chairman and Managing Director Bhanu Prakash Srivastava said on Tuesday. In an interview with PTI, he said the order book of the 'Navratna' PSU under the Ministry of Defence stands at around Rs 64,800 crore as on August 1 this year.
India is fighting a war with its defence imports. Is it winning?
In the last few years, India has been trying to indigenise its military supplies at a maddening pace. The government released a few days ago a fresh list of 928 components and subsystems that will only be procured from domestic firms once import bans on them kick in, over a period of five-and-a-half years.
4 defence sector stocks with up to 32% upside potential
Government support, higher defence expenditure, robust exports and huge order books to drive performance of defence companies in future.
9,000 crores of budget already given to Indian defence industries for ammunitions: Army Chief
Emphasising the need for self-reliance and sufficiency in critical defence requirements, the Chief of the Indian Army staff, General Manoj Pande, on Thursday, said that a budget of 9,000 crore has already been given to Indian Defence industries for ammunitions.
Northern Command 'perfect lab' for testing indigenous products, response positive: Army Commander
Lt Gen Upendra Dwivedi says troops have been providing feedback to companies fielding equipment, 150 companies invited this week to demonstrate products.
Defence Ministry exceeds spend target for local arms
In the 2021-22 budget, the ministry had projected a target to spend 64% of its capital acquisition budget on the domestic industry. Data shared by the government shows that 65.5% of the budget was spent on domestic sources of equipment.
Need to jumpstart consumption for sustained growth: SBI
It said for the 18 year period ended FY21, the weighted contribution of exports was 28% and of consumption was 69% while for the seven-year period ended FY21, their weighted contributions were 7% and 71%, respectively.
View: A corporatised Ordnance Factory Board is in alignment with Atmanirbhar Bharat
Global competitiveness demands lean, thin and effective organisations that have management skills of global standards with minimal government interference. In keeping with the spirit of 'Minimum Government and Maximum Governance', one of the most challenging tasks the government took up was an attempt at corporatization of the OFB.
India announces second progressive arms embargo list to boost domestic defence production
The defence ministry’s second arms embargo list — or the ‘second positive indigenisation list’ as it is now called — includes only a few fully-formed weapon systems, platforms and sensors.
Defence production bounces back, ministry numbers show sharp recovery
Data available with the defence ministry show that the value of production jumped to Rs 12,268 crore in the second quarter, compared to Rs 6,716 in the first quarter, spurring hope that public sector units are on the recovery path.
In boost to Atmanirbhar Bharat, India prepares list of embargoed defence import items
The decision will offer an opportunity to the domestic defence industry to manufacture the items in the negative list by using their own design and development capabilities or adopting the technologies designed and developed by DRDO to meet the requirements of the Armed Forces.
Defence reforms to steer India towards self reliance, boost indigenous production: Industry
In a major reform initiative to boost the domestic defence industry, Defence Minister Rajnath Singh on Sunday announced restrictions on import of 101 weapons and military platforms, including artillery guns, assault rifles and transport aircraft.
Government to focus on domestic manufacturing of arms, ammunition to promote 'Atmanirbhar Bharat Abhiyan'
Reddy, the Union Minister of State for Home, said for many years India was dependent on worldwide Original Equipment Manufacturers (OEMs) for procuring arms and ammunition. "We will have to strengthen our presence in making a strong public-private-partnership culture," he said.
Being fashion forward: Nykaa will diversify, but does Falguni Nayar have enough ammunition to make it big?
The seven-year-old specialised online beauty retail venture has added fashion to their forte.
Slippages in ammo supply another worry for Army
The Army is upset with the OFB for huge slippages in supply and development of ammunition, apart from lack of quality control.
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