Medical devices planned for promotion include specific equipment across 8 segments. Products are slated to be manufactured by both Indian firms & MNCs with manufacturing units.
SSS Defence not only bags contract to supply .338 Lapua Magnum calibre sniper rifle, but also deals to deliver nearly USD 50 million worth of ammunition to multiple friendly countries.
All contracts that materialised in FY 2023-24 & 2022-23 were with Indian public, private vendors. Army is looking at indigenising sustenance of weapon systems which includes spares & munition.
The manifesto, released Sunday, focused on making India a manufacturing and export hub, creating employment opportunities through this, and expanding a few ongoing schemes.
Private sector & DPSUs accounted for about 60% & 40% of the total exports. Growth is 32.5 percent as compared to previous fiscal, says defence minister.
Order value wasn’t disclosed but Airbus India MD says company sources components & services worth $750 mn from India every year and plans to take it to $1.5 bn over next few years.
A variety of factors, including Apple’s pricing strategy, forex fluctuations and import duties, are leading to this huge price discrepancy, say experts.
For an industry globally classified as hazardous, protections such as health insurance and a provident fund for workers are necessities. In Sivakasi, they remain elusive.
The industry forecasts exports are set to grow 16% in 2025-26, boosted by surplus domestic production and a drive to push into 26 underserved global markets with strong potential.
Indigenisation level will progressively increase up to 60 percent with key sub-assemblies, electronics and mechanical parts being manufactured locally.
It is a brilliant, reasonably priced, and mostly homemade aircraft with a stellar safety record; only two crashes in 24 years since its first flight. But its crash is a moment of introspection.
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