11844 stories by IPA Staff
Indian shares extend gains; BHEL up
MUMBAI (Reuters) – Indian shares headed for a third consecutive session of gains led by blue chip BHEL after the power equipment maker posted positive provisional earnings, raising optimism about profits in the capital goods sector. Banks such as State Bank of India and ICICI also gained, with each up...
India welcomes US bounty on Saeed's head
India today welcomed the US announcement of a bounty of USD 10 million on Pakistan-based Jamaat-ud-Dawa chief Hafiz Saeed, the mastermind of the 26/11 Mumbai attacks, saying it sends a strong signal to Lashker-e- Toiba and its patrons. “India welcomes US notification under the Rewards for Justice Programme. (It)...
Jayalalithaa announces partial rollback of power tariff hike
CHENNAI: Under attack from political parties for the steep hike in power tariff, Tamil Nadu Chief Minister Jayalalithaa on Tuesday announced subsidising part of the increase for domestic consumers. Making a suo motu statement in the state assembly, Ms. Jayalalithaa said the present move will benefit 1.5 crore families...
Arms Procurement: Government Revises Defence Offset Policy
NEW DELHI: India on Monday allowed foreign vendors to use transfer of technology to fulfil their offset credits, easing the policy aimed at developing the indigenous industry. The government also increased the time for bank offset credits to seven years, from the present two-year limit within which foreign vendors...
India's Military Modernisation Plans Till 2027 Approved
India on Monday approved the crucial five-year and 15-year modernisation plans of the armed forces beginning 2012, after almost a year-long delay. The Defence Acquisition Council (DAC), at a meeting chaired by Defence Minister A.K. Antony, gave it’s nod for the 15-year Long-Term Integrated Perspective Plan (LTIPP) that will...
Sikorsky-Tata Joint Venture Applies For Defence Licence
CHENNAI/HYDERABAD: US-based chopper manufacturer Sikorsky Aircraft Corporation, part of United Technologies Corp, and Tata Advanced Systems Limited (TASL) have applied for a defence licence to manufacture components and assemble helicopters for use by the Indian Navy, according to Steve Estill, vice-president (strategic partnerships), Sikorsky. “The licence will pave the...
BEML Begins Work On Aerospace Unit At SEZ
CHENNAI/BANGALORE: The BEML Limited, a defence public sector undertaking, is moving forward in the aerospace vertical as part of the expansion of its defence business. In this regard, BEML has begun work on an aerospace manufacturing division at SEZ near the Bangalore International Airport, Devanahalli. The ground breaking for...
BEL Topline At Rs 5,710 Crore
CHENNAI/BANGALORE: Navratna defence PSU Bharat Electronics Limited (BEL) has recorded a profit before tax of Rs 975 crore while recording a turnover of Rs 5,710 crores (provisional) for the fiscal year 2011-12. A release from the company said, BEL had also seen exports of $38.45 million. The turnover per...
India Could Require 6 To 8 Northrop MQ-4C BAMS
To ensure continuous coverage of it’s oceanic frontiers, the Indian navy would need six to eight Northrop Grumman MQ-4C Broad Area Maritime Surveillance (BAMS) unmanned air systems (UAS). This number would allow India to keep a BAMS airborne all day, every day for 365 days a year, says a...
Defence Acquisitions To Be Fast-Tracked
Government clears five-year plan, issues new guidelines on transfer of technology policy NEW DELHI: Amid a spate of controversies involving the defence establishment, the Defence Ministry today cleared the long-term integrated perspective plan (LTIPP) for 2012-2027 and the five-year defence plan (2012-2017) besides effecting a key change in the...
India's Rotting Defence Establishment
The civil-military confrontation shows that integrating the defence ministry and reforming procurement are overdue The disgraceful civil-military crisis India has witnessed denotes complete failure of leadership on the part of the army chief and the defence minister. Rather than try and paper over the cracks, both should go. The...
Made By India, Not Made In India
It is for the government — through FDI caps and licensing — to nurture Indian defence players rather than exposing them to a brutal marketplace In a timely article on this page, Nitin Pai has addressed the vital question of how to equip India’s military, without delays and with...
New Details Emerge On Tatra Truck Deal
Even as Central Bureau of Investigation detectives have begun questioning Ravi Rishi, the London-based millionaire businessman at the heart of the showdown between the Defence Ministry and Chief of the Army Staff V.K. Singh, fresh details have begun to emerge of the truck deal that precipitated the crisis. Rajan...
ONGC Says No To Reliance Gas Transportation Infrastructure Stake Buy
MUMBAI: Oil and Natural Gas Corp has declined to participate in the stake sale of the pipelines company owned by Mukesh Ambani and other promoters of Reliance Industries Ltd but other state firms such as OilIndia and Gail India are evaluating the prospect. The company, Reliance Gas Transportation Infrastructure...
India Rejects Qatar Price For Additional 5 Million Tonne LNG
New Delhi: India has rejected the price that Qatar is seeking for supplying additional 5 million tonne a year of liquefied natural gas, saying that domestic consumers cannot afford the rate the world’s largest LNG exporter is asking for. Qatar wants at least 14.5% of the prevailing brent crude...
India To Have Natural Gas Pipeline Grid Of 30,000-KM By 2017: Jaipal Reddy
NEW DELHI : India will by 2017 have a natural gas pipeline grid of 30,000-km connecting consumption centres to source of fuel, Oil Minister S Jaipal Reddy said today. “We have a country wide network of 12,000 km of gas pipeline (and another) 12,000 km of pipelines are under...
Oil Companies Want To Raise Petrol Prices Immediately But Govt Wants To Defer It
NEW DELHI: Independent directors are increasingly asking the boards of state oil companies why they have not raised petrol prices for months to cut losses even though the Cabinet has granted them the freedom to price the fuel. Top executives at Indian Oil, Bharat Petroleum Corp and Hindustan Petroleum...
No End In Sight In Battle Over Haldia Petrochemicals
KOLKATA: A 7-yr legal tussle over Haldia Petrochemicals looked close to being resolved. But when Mamata Banerjee upped the ante, it was back to square one for investor Purnendu Chatterjee It was January 2005. Industrialists, chief executive officers (CEOs) from across the country and representatives from 23 nations, were...
