DRONE POLICY
Drone industry seeks favourable policies, incentives, component ecosystem to push domestic manufacturing
Industry players at the Drone International Expo 2024 in Delhi called for improved policies and incentives to boost indigenisation in the Indian drone market, projected to reach USD 27 million revenue by 2024. Experts emphasised the need for a supportive ecosystem for domestic component manufacturing. Over 200 national and international manufacturers are showcasing innovations, highlighting advancements in surveillance for enhanced security measures against modern terrorist activities.
Charting the global economy: BOE leaves rate-cut hopes alive
The Bank of England hinted at possible interest-rate cuts as some officials are leaning towards it, despite keeping rates steady at 5.25%.
Narendra Modi pays tribute to Mahatma Gandhi at Rajghat ahead of swearing-in as PM
Around 1,100 traffic police personnel of the Delhi Police have been deployed and an advisory has been issued to the public for the traffic movement route arrangements have been made for the delegates as part of the arrangements for Prime Minister-designate Narendra Modi's oath ceremony on Sunday.
Meta hit with privacy complaints in Europe over AI plans
A Vienna-based privacy campaign group filed complaints in 11 European countries against Meta on Thursday, saying the global tech giant's planned privacy policy change would allow "unlawful" use of personal data for artificial intelligence technology. Through the complaints, the group asks data protection authorities in the 11 European countries to stop Meta's new privacy policy before it enters into force in late June and fully investigate it.
India's helicopters being flown with Maldives defence personnel onboard: media report
Weeks after India withdrew its military personnel from the Maldives, the two helicopters gifted by New Delhi are still operational, flown with a Maldives National Defence Force (MNDF) soldier on board. President Mohamed Muizzu, who pledged to remove Indian military presence, saw the repatriation of the last personnel by May 10. India replaced its military staff with civilians to continue operating the donated helicopters and Dornier aircraft, used for medical evacuations and humanitarian missions, maintaining defense ties despite local political changes.
How China rose to lead the world in cars and solar panels
Heavy subsidies for industry, together with weak sales in China, have set the stage for an export boom, raising fears of factory job losses elsewhere
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Govt needs to further expand PLI scheme to make India 'Global Drone Hub': Report
As per the Ministry of Civil Aviation projections, the Indian drone manufacturing industry is expected to reach Rs 900 crore by 2025 from just Rs 60 crore in 2020-21, according to a study conducted by Nexgen Exhibitions. It also noted that the Indian drone market is expected to grow at 22.15 per cent CAGR (compounded annual growth rate) during the 2024-30 period.
Iran President Raisi dead: How it may impact the region including Israel, oil prices, gold, and stock markets
The death of Iranian President Raisi in a helicopter crash is poised to have significant repercussions, given Iran's longstanding conflicts and alliances in the Middle East. The incident comes amidst escalating tensions between Iran and Israel, raising concerns about regional stability and Iran's nuclear ambitions.
How China rose to lead the world in cars and solar panels
Top leaders in the United States and Europe have started urging China to reduce its exports to the world and boost its imports.
States & online gaming regulations; banks tap startups to foil frauds
Happy Monday! In the absence of central government’s self-regulatory mechanisms, states are framing laws for online real money gaming. This and more in today's ETtech Morning Dispatch.
Yemen's Huthis attack Greek, US ships: CENTCOM
Yemen's Iran-backed Huthi rebels have resumed attacks on Red Sea shipping, targeting a Greek commercial vessel and other ships in recent incidents. The rebels launched missiles and drones at the ships, including a Maltese-flagged vessel, MV Cyclades, and two US vessels. The attacks, part of a series of incidents since November, have raised concerns about the safety of shipping routes in the region. The Huthis claim solidarity with Palestinians during the Israel-Hamas conflict and vow to continue attacks until Israel stops its actions in Gaza.
Come '26, hailing an air taxi may become a reality
Archer Aviation plans to introduce a ₹3000 air taxi service between New Delhi and Gurugram by 2026, partnering with IndiGo. They aim to reduce travel time to 7 minutes and are working on Urban Air Mobility policies.
Archer and Interglobe plans air taxi to cut down travel time in Indian cities
California-based EVTOL company Archer Aviation plans to reduce travel time in India by 2026 to seven minutes, five times that of Uber. EVTOLs take off and land vertically, producing fewer emissions and potentially being quieter. Archer has partnered with Interglobe Enterprise, the owner of IndiGo, which has reduced air travel costs in India.
US and UK issue new sanctions on Iran in response to Tehran's weekend attack on Israel
Treasury's Office of Foreign Assets Control targeted 16 people and two entities in Iran that produce engines that power the drones used in the April 13 attack on Israel. Additionally, the UK is targeting several Iranian military organizations, individuals and entities involved in Iran's drone and ballistic missile industries.
Oil dips on profit taking after price crosses $85
Brent crude oil futures for May fell 41 cents, or 0.5%, to $85.01 a barrel at 1234 GMT, after crossing $85 a barrel for the first time since November on Thursday. U.S. West Texas Intermediate (WTI) crude for April fell 32 cents, or 0.4%, to $80.94.
MQ9 B drone sales to India enters next step as Congressional notification completes 30 days
The sale of 31 MQ9-B SkyGuardian Drones to India is expected to be fast-tracked without objection from lawmakers. The proposed deal includes technology and equipment and was announced by US President Joe Biden during Prime Minister Narendra Modi's visit.
Newspace raises $52 mn, the largest equity raise for an Indian defence startup
Newspace Research & Technologies (NRT), a leading drone manufacturer in India's defence sector, has secured $52 million in a bridge round, marking a significant equity raise. The funding includes $33 million in equity from prominent investors and $19 million in debt facilities from SBI’s startup hub and SIDBI. NRT, specializing in swarm drone technology, collaborates with the Ministry of Defence and aims for global expansion, having demonstrated swarm drone operations in Japan.
What will it take for India's drone industry to fly higher?
India aims to be a major global hub for drones by 2030, boosting GDP by 1-1.5% and creating jobs. The industry has requested expansion of the PLI scheme, which benefits startups and MSMEs. The drone industry faces challenges such as the lack of a component ecosystem, talent pool, and testing facilities.
In defence of everything
The Americans have proposed, once again, joint production of the Javelin anti-tank missile, an offer first made in 2013. But things got stuck over tech transfer and pricing. Let's see what happens this time. Incidentally, Army chief Manoj Pande is currently on a visit to explore 'new avenues and opportunities'. It's the first trip by an army chief since 2019, a gap US officials were keen to bridge. Besides meeting his counterpart Randy George, Pande will travel to San Francisco and Seattle and meet US Army Special Forces and Stryker units.
'Intrusive' drones? US surveillance case tests privacy law
After bouncing between courts in recent years, the Michigan Supreme Court heard oral arguments in October, and a ruling in coming months could set a precedent nationally. "It's very intrusive," Maxon, 51, told the Thomson Reuters Foundation.
Armed with missiles and bombs, MQ9-B drones to bolster India's surveillance capability
The MQ-9B SkyGuardian aircraft, set to be sold to India by the US, will come equipped with advanced surveillance capabilities along with lethal attack weaponry such as Hellfire missiles and laser-guided small diameter bombs. The Biden Administration transmitted details of this proposed sale to the US Congress through a letter from the Defense Security Cooperation Agency (DSCA) last week.
TechEagle partners with 10 AIIMS for fast medicine delivery via drones
Drone logistics company TechEagle on Monday said it has entered into collaborations with 10 AIIMS for the fast delivery of medicines. "TechEagle's nationwide impact is underscored by...collaborations with 10 AIIMS & INI's hospitals, swiftly implementing drone services and setting new range and speed records," the company said in a statement.
US approves sale of 31 Predator drones to India
India and the US are in ongoing negotiations for a $3 billion deal involving the supply of 31 MQ-9B Predator drones to the Indian armed forces. The US Congress is expected to favorably consider the deal, with the Biden administration likely to notify Congress soon. The deal, announced during Prime Minister Narendra Modi's visit to Washington in June 2023, is aimed at enhancing India's surveillance capabilities, particularly along the Line of Actual Control with China. The drones can stay airborne for over 35 hours and carry missiles and bombs. The cost is estimated to be around $3 billion.
MQ-9B drone deal: Biden administration notifies US Congress on proposed sale to India
People familiar with the matter said the Congressional notification process started on Thursday and a letter of approval will be sent to India after around 30 days following the approval to the procurement by the Congress.
Drone attack on US base in Jordan raises concerns of escalating conflict in the Middle East
A recent drone attack on a US base in Jordan, attributed to Iran-backed militias, raises concerns of escalating conflict in the Middle East. The Islamic Resistance in Iraq, a collective force of various militias, claimed responsibility. Motivated by opposition to US support for Israel, these groups aim to push American forces out of the region. Iran denies direct involvement, posing a dilemma for the Biden administration in crafting a response. The situation's broader impact on the Middle East hinges on how the US navigates this delicate geopolitical challenge.
Joe Biden says US 'shall respond' after drone strike by Iran-backed group kills 3 US troops in Jordan
Three U.S. troops were killed in a drone strike in Jordan, near the Syrian border. President Biden blamed Iran-backed militias, vowing a response. The attack marked the first U.S. military casualties in the region amid tensions from the Israel-Hamas war. U.S. officials work to identify the responsible group. Iran denies involvement, calling accusations "baseless." The drone hit a logistics base, leaving 34 injured. Jordan condemned the attack, emphasizing its commitment to counterterrorism. Tensions rise in the Middle East as the U.S. considers its response.
Oil jumps 1% after Houthis attack on fuel tanker in Red Sea
Brent crude futures climbed 83 cents to $84.38 a barrel by 2341 GMT after hitting a session-high of $84.80. U.S. West Texas Intermediate crude rose 78 cents to $78.79 a barrel.
Transforming the last mile: New delivery models, technology strengthen logistics in India
The year 2023 witnessed a quantum leap in the speed and customer experience realm, as same day and next day delivery models took centre stage, especially for Direct-to-Consumer (D2C) commerce companies.
North Korea plans for three more reconnaissance satellites as it sets policy goals
North Korea says it successfully launched its first military spy satellite on Nov. 21, transmitting photos of the White House, the Pentagon, U.S. military bases and "target regions" in South Korea.
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