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The Times of India; World's Largest English-language Daily Newspaper
Topic Started: May 24 2014, 06:41 AM (276 Views)
Eryk
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Indian Navy Commissions First Ballistic Missile Submarine
Navy's first ballistic missile submarine and missiles enter service

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Visakhapatnam | August 2015 -- The commissioning of India's first nuclear-powered ballistic missile submarine was officially completed today before an audience of a number of high-profile figures, including the Indian President, Prime Minister, Minister of Defense, and various officials associated and affiliated with the Indian Navy. The INS Arihant and its sister ships grew out of the Indian Navy's Advanced Technology Vessel (ATV) project, and represents the highest technological achievement of the Indian Navy and its affiliated shipyards to date.

According to defense officials, the INS Arihant will be one of four vessels to be commissioned throughout the decade, with the second, INS Aridhaman, having already been launched in late 2014. The submarine, which is now fully operational, is integrated with a new series of Indian submarine-launched ballistic missiles, boosting India's second-strike capabilities and nuclear deterrence. With the successful commissioning of INS Arihant, and another three vessels underway, India has successfully joined an exclusive club of now only six nations to indigenous design, build, and operate a ballistic missile submarine, and is the first outside of the five permanent members of the United Nations Security Council.

According to Indian Prime Minister Narendra Modi, his government in an agreement with the Indian Navy will forgo building a fifth Arihant-class submarine, and will instead pursue funding for an already planned follow-up design. According to defense analysts, the new follow-on submarine is likely to be twice the size of the Arihant-class, closer to the size of the new Russian Borei-class ballistic missile submarine. It is speculated that up to eight of these follow-on submarines, which would naturally build upon the experienced gained in producing the Arihant-class, would be produced through 2029. Parallel to the new submarine project, the Indian Navy has signaled it will seek to complete the development of a new submarine-launched ICBM for commissioning on the new generation of submarines.

Aside from declaring the commitment to the next-generation family of submarines, Modi also declared that as a part of the project, India would shed its aircraft-based nuclear deterrent in favor of a combined land-sea network approach. The Prime Minister mentioned that the vulnerability of aircraft-based nuclear weapons, alongside the costs associated with expanding the sea-based deterrent, necessitated prioritizing remaining options.
Edited by Eryk, May 25 2014, 04:26 PM.
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Air India pilots' union backs privatization
Near-bankrupt carrier's union is open to "partial or complete" privatization

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New Delhi | August 2015 -- Narendra Modi seems to have achieved the impossible for critically ill Air India — getting its pilots' union to back privatization of the airline. The Indian Commercial Pilots' Association (ICPA, union of pilots of erstwhile Indian Airlines) has written to Modi, saying it is "not averse to part or complete privatization of the airline if done fairly".

It, however, urged Modi to examine how previous governments had brought AI to its current state. "Every employee is waiting for AI to be pulled out of ventilator and (ending of) government interference as it has been plagued by bad political decisions in the last decade," ICPA general secretary Rishabh Kapur says in the letter.

The collective debt of the Air India-Indian Airlines combine was around Rs 47,200 crore on December 31, 2013. AI has already used up almost half of the Rs 30,000-crore equity infusion promised till 2020, without any real turnaround.

Sources said UPA-2 did little to turn around the airline, except for appointing IAS officer Rohit Nandan, an officer with a clean image, as AI's CMD in 2011. However, the airline continued to be run by politicians and babus from Rajiv Gandhi Bhavan — the Delhi-based aviation ministry headquarters — and not aviation professionals, they rued. "Nandan has managed to stabilize the airline operations and bring it to a position where AI can at least attract prospective buyers. AI will enter Star Alliance shortly and that will make it a good buy despite its massive losses-dues combine. Earlier, no investor would have even looked at AI," said a source.

Latching on to Modi's promise of "achchhe din aane wale hain", ICPA urged the Prime Minister to bring good days to the airline as well. "Let me assure you on behalf of Air Indians — a family of 40,000 employees and if you add the retired and dependent family members, the number easily crosses 2.5 lakh people who have embedded their faith in one man and his vision and commitment to the nation — Narendra Modi," Kapur's letter says.

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RBI: No need to fully privatize state-owned banks
Raghuram Rajan says way in which government-backed lenders are managed needs to change

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New Delhi | August 2015 -- India's central bank Governor Raghuram Rajan said Tuesday that the privatization of state-run banks is not necessary but how the government-backed lenders are managed needs to change to allow them the flexibility to remain competitive.

"Let us remember that what is at stake is not just the tremendous amount of national value that is represented by public-sector banks but future financing and investment in our economy," Mr. Rajan said at an event in New Delhi. His comment comes days after a panel appointed by the Reserve Bank of India recommended that New Delhi either privatize the national banks or put in place a new structure to keep government officials from interfering in how they are managed.

Mr. Rajan said a healthy public-sector banking system should be free from too much government influence but not from fulfilling the public's needs. The panel—formed to review the governance of bank boards and headed by former Axis Bank Ltd. chief executive officer P.J. Nayak suggested the government move all its holdings in banks to a new investment company. Thursday evening saw Prime Minister Narendra Modi join the debate, stating that he would partially accept the panel's recommendations.

The Finance Ministry announced plans for a stabilization mechanism, and the transfer of state-owned companies into a central holding company according to the panel's recommendations. In a statement delivered to the Lok Sabha, Modi clarified that he would not pursue privatization of any state banks, or the new central holding company, beyond 50.09%, and that he would seek to instate an all-professional management as part of a reorganization of the largely state-owned financial system.

After the declaration that five banking and officer employee unions would stage a protest in response to the panel's recommendation and state policy on Thursday, Modi declared that he would seek to prevent any losses in jobs, and would instead seek to stabilize the country's financial system through a massive recapitalization plan, likely to cost tens of billions of dollars. Despite threats of protest, the PM stated that he intends on seeing through a package of reforms aimed at stabilizing the system in the long-term and providing a "strong base" for future lending activities.
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India may consider runner-up to MRCA competition
India's Ministry of Defence says negotiations are proceeding at an unsatisfactory level with Dassault

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New Delhi | September 2015 -- India's Ministry of Defence declared early Saturday that its contract with Dassault is "on the verge of failure" after the company has failed to respond to most recent set of negotiations. According to sources within the ministry, it is likely that the package offered by the Eurofighter Consortium will be reevaluated and the status of the Dassault Rafale as the winning aircraft changed.

Arun Jaitley, India's Minister of Defence, claimed on Saturday that thus far the French manufacturer has ignored proposals for new purchase of fighter aircraft. The initial tender of 126 has been increased to 189 by Narendra Modi's government in light of a "deteriorating situation" in the world's fourth largest air force.

India's air force has been in crisis since the 90s, after many aircraft due to be replaced were not due to budgetary constraints. The collapse of the Soviet Union meant the loss of a reliable military supply partner, and only after two and a half decades has India forged a reliable defense partnership with Russia's Rosobronexport. The collapse of the Soviet Union meant a lack of spare parts, and with it a huge deterioration in India's massive fleet of MiG aircraft.

Aircraft due to be replaced in the 2000s also were not, and continue flying to this day. As a result of over-usage, crashes are becoming more common. The issue has been compounded by the Ministry's announcement on Friday the week prior that the deployment of the HAL Tejas would be delayed in favor of producing an advanced variant of the Mk. II version of the aircraft, integrating a new Israeli radar and other advanced avionic systems.

Air Chief Marshal Arup Raha, who has headed India's air force for almost three years now, responded to the comments with mixed feels. "The delay of the Tejas will be an issue, as we are desperately in need of a newer combat aircraft to replace the MiG-21 fleet, however after consultations with HAL I anticipate to see the advanced Mk. II version in mass-production by next year, and induction the same here," he said. "Right now we are internally looking at an additional order for the Su-30MKI, as well as contacting Rosobronexport regarding the Su-34 Fullback to replace our aged Jaguars."

BAE Systems has been keen on reoffering India the Eurofighter, after the previous government suspend its contract with Dassault temporarily due to budget constraints. India's Defence Minister said that the French company now has "no excuse" for the lack of an agreement, as budgetary constraints have been lifted, and a more willing government in power for over a year.
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Modi: More effort into reform must be placed
India's Prime Minister says he intends on cutting the direct link between government and state-owned enterprise management and pressing through an urgent bank reform

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New Delhi | September 2015 -- More than twenty years ago India's economy hurdled down the path of reform under the close guidance of the International Monetary Fund. Today, inflation is much higher than its should be; industrial growth has slowed, and the budget deficit higher than ever in its history. Narendra Modi, the country's Prime Minister, promised he would deliver on his India 2030 vision, despite criticisms.

"More effort into reform must be placed," he said speaking to the Lok Sabha. In his speech he identified three "key areas" in which the government must act to jump-start the economy: state-owned industries, labour regulations, and tax reform. "We have begun on the path for the latter, with a comprehensive proposal for the implementation of the GST, for the first time formalizing a single common market amongst all of India's states," he declared to cheering BJP benches.

The Prime Minister for the first time laid out his vision for banking crisis the country is facing, as well as the reform of India's major state-owned companies. "Our banks must be recapitalized to the tune of at least $92 billion, which will put enormous stress on public finances," he said, "however partial privatization efforts are likely to pay greater dividends and result this in costing far less." Referring to his "Macro-Economic Stabilization Program (MESP)" the Prime Minister said it is the "cornerstone" of his policy to secure a stable future for the banking system.

As a part of the proposal, India would introduce a 0.8% financial transaction tax, or FTT, to fund the massive recapitalization effort - which some have likened to a bailout - and a future security mechanism of $150 billion meant to make such efforts "far easier," as the Ministry of Finance described. The fund would act both as a sovereign wealth fund, and as a lender of last resort - i.e. bailout mechanism - for state-owned companies or banks who would need them. New regulations would keep reckless lending practices in check, and the system would be insulated from world-wide fluctuations.

Modi also spoke of the need to introduce a reform of the way companies are managed, and to disconnect them from government ministries. "Thus far we have seen successive governments use profitable and good state-owned companies as a means to fund their deficits, cover their shortcomings, and soften up the electorate ahead of elections for political purposes," he said, ending with a roaring "this must stop!" India is likely to follow Singapore in forming two separate holding companies - one for its state-owned banks, and another for all other industries.

The Ministry of Finance said that as part of the MESP the current directors of state-owned banks would be replaced by professionalized management teams who are politically neutral. It is presumed that the same would happen for other state-owned companies if a similar plan was implemented.

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Jaitley: New Carrier Being Built
India's Defense and Finance Minister declared that he approved a proposal for the building and commissioning of a second Vikrant Class aircraft carrier

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New Delhi | December 2015 -- In a surprising move unexpected by most military observers, India's nationalist BJP-led government has moved towards constructing a second carrier due to be commissioned at the beginning of the next decade according to a confirmed report by Finance and Defense Minister Arun Jaitley. The carrier in question, a second Vikrant Class, is India's home-grown solution, designed and produced locally.

Defense officials speaking after Jaitley's press conference said that the successor vessel, the INS Vishal, would continue its design phase and would likely begin construction in three years time after sufficient effort was placed in expanding the capacity of India's military-oriented shipyards. The construction of the INS Vishal would make India the fourth nation - after the United States, France, and the United Kingdom - to operate a nuclear-powered aircraft carrier, and would represent a significant technological leap for the Indian naval defense industry.

The Ministry of Defense also announced an order for a further five Kolkota class destroyers, bringing the total to eight. According to observers, these two major orders represent a significant step towards the Indian Navy's "two fleets, one in waiting" strategy. By 2023, it is likely that the Indian Navy will have three operational carrier groups, significantly increasing its capabilities across the Indian ocean. "The goal for decades now has been for three operational carrier groups: one on each seaboard, and a third in waiting to if necessary provide replacements for any ships that are in maintenance, or to bolster capabilities all together in the event of war," said an Indian Naval officer speaking on the condition of anonymity.

When asked regarding the MRCA competition during his press conference Jaitley said that "all efforts" are being made to end negotiations and begin production as soon as possible. He mentioned that the "Eurofighter option has definitively been eliminated due to incompatibility in terms of production and future reliability in terms of spare parts," but highlighted that previously unconsidered contenders, such as the heavy high-end Russian Su-35, are being considered. On negotiations with Dassault he said that "no significant progress has been made thus far, despite the Indian commitment to significantly increase the order."
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Jaitley: India interested in ordering the F-35 in the future
India's Defense and Finance Minister declared India's interest in the F-35, resulting in widespread controversy

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New Delhi | October 2016 --The Indian Prime Minister, Narendra Modi, has had a working lunch with US President, Barack Obama, and discussed the possible sale of the F-35 to India. Both government press services have stated that the parties mulled the bilateral relations and prospects for deepening cooperation. During the working lunch the Indian PM said that India attaches great importance to deepening cooperation with the United States - the country he sees as a possible future ally and strategic partner. At the same time, the PM said he is satisfied with ongoing mutual visits. The meeting also focused on the issues regarding economic cooperation. The parties also expressed hope that both countries will be able to present new opportunities for respective companies and their investment.

Despite initial high expectations, the Indian Air Force appears to be souring on a joint development deal with Russia for a new fifth-generation fighter jet, according to the Business Standard, a major Indian business publication. The Russian prototype is "unreliable, its radar inadequate, its stealth features badly engineered,” said Indian Air Force Deputy Air Marshall S Sukumar at a Jan. 15 meeting, according to minutes obtained by the Business Standard.

That contrasts sharply with high hopes voiced by the Indian government when the joint project, to which the Indian government has contributed $6 billion, began. “[The new plane] will have advanced features such as stealth, supercruise, ultra-maneuvrability, highly integrated avionics suite, enhanced situational awareness, internal carriage of weapons and Network Centric Warfare capabilities,” the Indian government said in a December 2010 press release. Those are all hallmarks of “fifth generation” aircraft.

India is the largest arms importer in world, according to the Stockholm International Peace Research Institute, and its military import large amounts from both Russia and Western countries. “The Indians for a long time have split their fighter industry between Western work and Russian work,” a Business Standard insider said. “Clearly they want to go more Western because they recognize that the Russian stuff just isn't up to the western standards. You only have so much money to go around, and like everybody else they've got financial pressures,” he added.

Other security experts said that India has a history of incompetence when it comes to military procurement, and so it did not necessarily reflect badly on Russia. “India has had so many problems absorbing modern equipment and supporting it that it’s difficult to know whether it says anything about the Russian systems at all,” Anthony Cordesman, who has served as a consultant for the State and Defense departments and who holds the Burke Chair in Strategy at the Center for Strategic and International Studies, said.

It has been rumoured that India may be souring on the Russian deal in part to save funds so they can build more French-designed Dassault Rafale fighter jets, which can be built relatively quickly, unlike the still-to-be-designed “fifth-generation” planes under development with the Russians. “The Rafale is a very nice aircraft, and they'll look at all the stuff the French are putting on that aircraft, and they'll look at the Russian stuff and say, why am I going down that path? Do I trust the Russians really are going to reach to the standards we set?”

Robbin Laird, a consultant to the Marine Corps and Air Force, said that India would be best off purchasing the already-developed fifth-generation Lockheed Martin F-35 – but that the United States government had not given permission for such a sale, even though Indian officials had asked several times to be able to consider the plane. “If they get a chance to really look at the F35, they would want it," Laird said. "The Indians have requested 3 times to talk to people about the F-35B, which is the true revolutionary aircraft -- and the administration never answered the mail, they've blown them off, it's typical of the Obama administration. We love our allies except if you want anything.”

He added that India may in fact not be at the level where it should be trusted with F-35s, however, so the administration would be right to turn them down. But he argued that the F-35 is ahead of what Russia has. “The Russians are good aircraft designers, and they know how to build an agile aircraft, and [the new plane they are working on] is a step forward the path of more agility and flexibility, but the problem is -- it's not all about the frame, it's about what your put in it. The F35 can see around itself, 360 degrees, can see a missile take off 820 miles away, it has a radar that's extraordinary, and the systems are integrated. The Russians I think are nowhere near that at this point.” Laird admitted that there was a kind of “ho-hum” aspect to those types of features, but said that the information they provide to pilots and commanders would pay off in a combat situation.

Cordesman also said that he was unsurprised by the Indian complaints, given what he knew about Russian air capabilities. “They’re very good at building airplanes,” Cordesman said. “The problem that Russia, since the collapse of the former Soviet Union, has been putting out the military equivalent of show cars. They look good, but it isn’t always clear how practical they are and how many of the specifications they can actually meet.”
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India boosts R&D spending to 2% of GDP in 2017
India's Defense and Finance Minister declared the increased spending on R&D and announced a $40bn project called "Catapult Cities"

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New Delhi | October 2016 -- It has been announced by India's Finance Minister that R&D spending is set to increase from 0.9% of gross domestic product in 2016 to 2% of GDP in 2017. A massive $40bn project was also announced, called "Catapult Cities" and is set to cease India's lacking potential in the past, and ensure its success in the future in research and development. Prime Minister Modi: "To compete in the global arena, India has to unleash its innovation potential" said earlier today in parliament.

India needs to step up expenditure on research to pursue innovation in a big way, said Prime Minister Modi today, while expressing concern that the country’s innovation bottom line was “not very encouraging.” He urged the private sector to increase their share of spending to the levels prevailing in countries such as South Korea, Japan and USA. He confirmed reports that India and the UK could possibly work together in the future over the "Catapult Cities" projects.

The Prime Minister, who was speaking in parliament, drew attention to the patent applications filed annually in countries like United States of America and China, saying the number was nearly 12 times more than that of India. “India spends only 0.9 per cent of GDP on research and development, which is much below that of China, UK and Israel. We should step up our expenditure on research to pursue innovation in a big way. The private sector, which contributes one-fourth of our country’s expenditure on research and development, should also increase their share of spending to levels prevalent in countries such as Japan, US and South Korea,” he said.

Globalisation, the Prime Minister said, had rewritten the rules of business and only the most competitive and resilient companies could expect to survive in the fiercely global market. “If our systems are strong and robust, the world will respect us and be willing to work with us,” he said. Prime Minister Modi emphasised that in a globally competitive world India had to unleash its innovation potential to increase capacity, productivity, efficiency, and inclusive growth. “The spirit of innovation has to permeate all sectors of economy from universities, business and government to people at all levels.” Future prosperity of India in the new knowledge economy, he said, would increasingly depend on its ability to generate new ideas, processes and solutions, and added that the process of innovation would convert knowledge into social good and economic wealth.

The needs and requirements of our democratic polity were different from other nations, Prime Minister Modi said. The nation’s priorities for innovation, according to him, should be conditioned by our socio-economic realities. “The Indian innovation strategy, therefore, has to be different. It should focus on generating ideas that promote inclusive growth and benefit people at the bottom of the socio-economic pyramid,” he said.
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Government cuts defence spending as economy slows
Despite budget cut, Defence ministry continues modernising to upgrade military assets

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New Delhi | November 2016 -- The union government has announced reducing spending on defence for the current financial year through because of the economic slowdown the nation is facing, Defence Minister Arun Jaitley said Wednesday. He didn't reveal how much the budget has been cut by, but added that India -- one of the world's biggest spenders on defence equipment -- would substantially increase its focus on the local production of weapons. But New Delhi won't cut its spending on acquiring critical weapons such as fighter jets, Mr Jaitley said. "Areas in which expenditure is essential for operational preparedness of the armed forces, there are no spending cuts," the minister said. "In some other areas, expenditure has been deferred to the next financial year."

The prime reason for the modest decrease in the defence budget is economic slowdown and the government’s determination to contain the fiscal deficit. The Indian economy is expected to grow at a decadal low of 1% in the next fiscal year (down from a peak of 5.7% in 2016), before increasing to 1.5% in 2018. At this growth rate, the government’s revenue receipts have come under sharp pressure, forcing it to tighten its purse. The austerity drive has further been necessitated by a widening fiscal deficit, which has fuelled concerns among investors with rating agencies seemingly inclined to reduce India's status.

A senior official at the defence ministry -- the world's biggest arms importer in recent years -- said a $1.9 billion cut there could delay efforts to buy howitzer guns and Javelin anti-tank missiles from the United States by at least few months. "The Indian army would be hit hard due to budget cuts," said the official, noting that a defence deal worth more $12 billion for procuring 126 jet fighters from France's Rafale was already delayed by at least twelve months.
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