Andhra CM Naidu reviews Aerospace, Defence Policy 4.0; sets Rs 1 lakh crore investment target
VIJAYAWADA: In a move to foster a thriving ecosystem for the aerospace and defence manufacturing industry in Andhra Pradesh, Chief Minister N Chandrababu Naidu reviewed the Aerospace and Defence Policy 4.0 (2025–2030) at the Secretariat on Monday.
The policy sets a bold target of attracting investments ranging from Rs 50,000 crore to Rs 1 lakh crore in the sector over the next five years to establish AP as India's premier aerospace and defence manufacturing hub.
The CM emphasized the need to position the state as a hub for advanced technologies and innovation in the aerospace and defence sectors.
Citing India's use of modern technology during Operation Sindoor, he underscored the growing role of technology in national defence.
He also emphasized the importance of developing such technologies for both defence applications and improving daily lives.
AP should outperform others in MSMEs: CM
Highlighting the potential in national defence, he said the new policy should play a key role in facilitating the setting up of industries aligned with these priorities.
He suggested several amendments to ensure national security remains a top focus. Aerospace and Defence Advisor Satish Reddy joined the review via video conference and offered suggestions. The CM stressed the importance of supporting MSMEs in this sector, noting that AP should outperform other States in this regard. He proposed an annual `100 crore corpus fund and the inclusion of logistics subsidies in the new policy.
'MSMEs must be strengthened. There should be a benchmark for quality in allied industries. Value addition is essential, and marketing and branding are equally important. The vision of 'One Family, One Entrepreneur' must be realised,' he said.
The policy designates specialised manufacturing corridors across the State for rapid industrial development.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
PhonePe prepares for $1.5 billion IPO: All you need to know
Digital payments and financial services platform PhonePe is gearing up for a $1.5-billion initial public offering (IPO) later this year. The Walmart-backed company has tapped Kotak Mahindra Capital, JPMorgan Chase, Citigroup and Morgan Stanley to arrange the offering. Key details: Draft paper filing: The company may file its draft red herring prospectus (DRHP) by August. Target raise: It plans to raise around $1.5 billion through the listing, which is approximately Rs 13,000 crore, as per a Bloomberg report. Valuation: This would value the company at $15 billion, a significant jump over its last private valuation of $12 billion, in 2023. Live Events Key developments Flipback to India: In 2022, PhonePe, which was domiciled in Singapore, redomiciled to India. This is an important legal step for companies planning to list on Indian stock exchanges. The fintech firm was the first of many startups that returned to India driven by better listing prospects and regulatory ease. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The fintech firm added that it had also moved the ownership of its recently acquired IndusOS Appstore (OSLabs Pte Ltd) from Singapore to India. Fundraise: In May 2023, PhonePe completed raising $850 million in multiple rounds from General Atlantic, Ribbit Capital, Tiger Global and Walmart. It was valued at over $12 billion after these funding rounds. Between 2020 and 2023, the company's valuation more than doubled from $5.5 billion to $12 billion. Financials: PhonePe narrowed its net loss by 29% in financial year 2024 to Rs 1,996 crore, from Rs 2,795 crore in FY23. The improved financial performance was backed by 74% growth in its operating revenue to Rs 5,064 crore, from Rs 2,914 crore a year before. February 2025: The company publicly stated its intention to list on Indian bourses. The fintech startup did not give a timeframe for the IPO, saying the plans were initiated after considering revenue growth and improvement in its path towards profitability. April 2025: The digital payments firm transitioned from a private entity to a public company in April, according to filings with the Registrar of Companies (RoC). The conversion was approved by the company's shareholders through a special resolution passed at an extraordinary general meeting held on April 16. Diversification woes PhonePe is the market leader in the Unified Payments Interface (UPI) space, and even though it has diversified to become a full-stack financial services platform, offering credit, insurance, and stockbroking over the past three years, UPI remains its core business. In FY24, PhonePe's financial services business brought in Rs 207.4 crore—a mere 4% of its Rs 5,064 crore total revenue. While the company has multiplied its revenue over the last few years, crossing the Rs 5,000-crore mark in overall income last year, diversifying its income streams is proving harder than expected.
Time of India
15 minutes ago
- Time of India
Hindustan Copper Ltd to bid for critical mineral, REE blocks with IOCL, GAIL, RITES: Top official
Hindustan Copper Ltd , a Miniratna CPSE under the Ministry of Mines, plans to bid for critical minerals and rare earth element blocks along with other PSU's like Indian Oil Corporation Ltd (IOCL), GAIL (India) and RITES as part of its diversification strategy, a top official said. The copper company will soon enter into non-binding agreement with IOCL and GAIL (India) Ltd for this purpose. "Hindustan Copper (HCL) will participate in the auctions which will be coming up not only for copper blocks but also for blocks pertaining to critical minerals and rare earth minerals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bank Owned Properties For Sale In Thanh Pho Ho Chi Minh (Prices May Surprise You) Foreclosed Homes | Search ads Search Now Undo "For example, if there is a critical mineral block or REE put up for auction by the Ministry of Mines & State Government, we will evaluate them and then HCL plans to tie up with PSUs on case to case basis to bid for those blocks, "Sanjiv Kumar Singh, Chairman and Managing Director, HCL told PTI in an interview. The company also plans to enter into pact with Coal India Ltd (CIL) for taking part in activities pertaining to copper and other critical minerals exploration to be carried out in Chile, he explained. Live Events He further said that an HCL team is already in place to carry out due diligence and finalise the blocks in which "we will be going to participate." Earlier this month, engineering firm RITES Ltd signed an agreement with Hindustan Copper Ltd to jointly develop supply chains for metals and minerals, including critical minerals, in both domestic and international markets. The partnership will focus on exploration, extraction, refining, and production activities in India and abroad. The collaboration includes participation in mineral block auctions and the development of mining infrastructure. Hindustan Copper, is engaged in copper ore mining and holds all the operating mining leases for copper ore in the country. The profit before tax of HCL has surged by 54 per cent to Rs 633.51 crore in FY 2024-25 from Rs 410.43 crore in FY 2023-24. State-owned Hindustan Copper Ltd has recorded its highest-ever revenue from operation at Rs 2,070.97 crore in FY 2024-25, reflecting a robust year-on-year increase of 21 per cent from Rs 1,717.00 crore in FY 2023-24. The company's Profit After Tax rose by 42 per cent to Rs 468.53 crore in FY25, up from Rs 295.41 crore in FY24. The company is currently focussed on the exploration, mining, and beneficiation of copper ore to produce and sell copper concentrate, which gives it better profitability in this dynamic market. HCL operates copper mines at Malanjkhand (Madhya Pradesh), Khetri (Rajasthan) and Ghatsila (Jharkhand).
Business Standard
18 minutes ago
- Business Standard
Mahanagar Gas Ltd soars 1.34%
Mahanagar Gas Ltd is quoting at Rs 1418.1, up 1.34% on the day as on 12:49 IST on the NSE. The stock is down 5.19% in last one year as compared to a 6.4% spurt in NIFTY and a 10.95% spurt in the Nifty Energy index. Mahanagar Gas Ltd is up for a third straight session in a row. The stock is quoting at Rs 1418.1, up 1.34% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.07% on the day, quoting at 25239.9. The Sensex is at 82763.96, up 1.06%. Mahanagar Gas Ltd has risen around 5.72% in last one month. Meanwhile, Nifty Energy index of which Mahanagar Gas Ltd is a constituent, has risen around 0.1% in last one month and is currently quoting at 35608.95, up 0.67% on the day. The volume in the stock stood at 2.42 lakh shares today, compared to the daily average of 8.05 lakh shares in last one month. The benchmark June futures contract for the stock is quoting at Rs 1417, up 0.98% on the day. Mahanagar Gas Ltd is down 5.19% in last one year as compared to a 6.4% spurt in NIFTY and a 10.95% spurt in the Nifty Energy index. The PE of the stock is 13.23 based on TTM earnings ending March 25.
