Under a deal signed in 2017, L&T supplied 100 K9s to the Indian Army. The howitzers were delivered ahead of schedule, with the last one handed over to the Army in February 2021. The guns were built by L&T at Hazira in Gujarat with technology transfer from South Korean defence major Hanwha Defense.
The International Monetary Fund (IMF) on Tuesday predicted that the global economy will grow at 4.4% in 2022 and is expected to slow down to 3.8% in 2023. While releasing the latest projections for world growth, the IMF has revised India’s growth prediction for the current fiscal year ending on March 31 by 0.5% (from 9.5% earlier to 9% now) which still retains its position as the world’s fastest-growing major economy.
As part of India’s localisation of defence manufacturing, a special purpose joint venture called Indo-Russian Rifles Private Ltd (IRRPL) has been created for the production of 600,000 AK-203 in India. The Joint Venture is between India, represented by the Defence PSUs-Advanced Weapons & Equipment India Limited (AWEIL) & Munitions India Limited (MIL) and Russia, represented by Rosoboronexport (RoE) & Concern Kalashnikov (CK).
These tugs have been designed and built under the classification rules of Indian Register for Shipping (IRS) with a service life of 20 years and are capable of assisting large naval ships, including Aircraft Carrier and Submarines in berthing, un-berthing, turning and manoeuvering in confined waters and in harbour.
Exports of Engineering Goods jumped to USD 81.8 Billion during April-December 2021 (Provisional) as compared to USD 52.9 Billion during same period in the previous year (2020), registering a stupendous growth of 54%. Engineering Goods sector constitutes the largest, more than 27%, share of India’s total exports basket during the period.
Some key examples referred to included design trainings for Molela artisans in Rajsamand District, Rajasthan; skill trainings for Muga Silk weavers from Kamrup, Assam, sustained year-year trade facilitation of Lakadong Turmeric from West Jaintia Hills, Meghalaya and the promotion of ODOP products from across districts and categories at international events such as the Dubai Expo 2020.
Lignin, which is a natural and a nontoxic biopolymer, is an emerging material for developing coatings, films, gels, adhesives, and adsorbents. It also acts as a capping, stabilizing, and reducing agent for fabricating nanomaterials. In the new study, a team of researchers at the Department of Biotechnology’s Centre of Innovative and Applied Bioprocessing (DBT-CIAB), at Mohali have developed a lignin-based coating material, which when applied to a cotton cloth, was found to have antimicrobial properties.
According to the Futures Industry Association (FIA), the National Stock Exchange of India has surpassed the New York Stock Exchange as the world’s largest derivatives exchange for the third year in a row in terms of the number of contracts traded in 2021. In addition, according to the World Federation of Exchanges (WFE) figures for 2021, the exchange placed fourth in terms of cash equities trading.
Tata Motors on Friday stated it has released its brand new variety of passenger automobiles in Bhutan. The business enterprise stated it has released the product variety in association with Samden Vehicles, an authorised distributor of passenger automobiles in Bhutan.
According to data from the Indian Bureau of Mines (IBM), Ministry of Mines, the index of mineral production in the mining and quarrying industry in November 2021 (Base: 2011-12=100) was 111.9, which was 5% higher than the level in November 2020. The cumulative growth rate from April to November 2021-22 is 18.2% higher than the previous year’s similar period.
