Under deal approved by Defence Advisory Council, first 20,000 AK-203 rifles will be imported from Russia, and then, more than 6 lakh rifles will be manufactured in India.
Strike proposed by employees’ federations of ordnance factories from 26 July, against Modi govt decision to corporatise them, perhaps triggered introduction of the Bill.
OFB is a strategic asset that would flourish post ‘modification and modernisation’. Modi govt’s May 2020 announcement is a step in the right direction.
In a statement, OFB said only 19 per cent of the accidents involving defence ammunition between January 2015 and December 2019 could be attributed to the board.
Pointing out these shortcomings in an internal assessment, the Army has thrown its weight behind government plans to corporatise the OFB to make it more efficient.
The current Iran war has laid bare a fundamental reality: 20 per cent of global energy trade cannot afford to rely on a single artery, no matter how resilient and cost-effective.
Regulator seeks feedback on allowing firms to repurchase shares via exchanges after tax changes, as markets reel from war-led selloff and foreign outflows.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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