logo
Despite Global Conflicts, Russia Committed To Delivering S-400 Next Year: Defence Secretary To News18

Despite Global Conflicts, Russia Committed To Delivering S-400 Next Year: Defence Secretary To News18

News186 hours ago

Last Updated:
Last year, India signed a record number of defence contracts, doubling the previous highest number in its defence history, he pointed out
With West Asia witnessing widespread warfare and Russia still battling Ukraine, defence secretary Rajesh Kumar Singh spoke with CNN-News18 about the impacts of global conflicts on supply chains and India's strategy in response.
Despite these disruptions, Russia has committed to delivering the S-400 missile system next year, Singh said in the exclusive interview. 'While there may be potential delays, India is prioritising timely contracts and enhancing its own indigenous capabilities," he said.
Last year, India signed a record number of defence contracts, doubling the previous highest number in its defence history, he pointed out.
At a defence conclave last month, Singh had highlighted the need for Aatmanirbharta in the defence sector. He termed it essential not only for preserving India's strategic autonomy but also for realising the ambitious vision of Viksit Bharat by 2047.
Singh had linked defence indigenisation to broader national objectives, including scaling GDP from $4 trillion to $32 trillion, expanding manufacturing, fostering a vibrant startup ecosystem, generating employment, and leveraging dual-use technologies for civilian applications.
India's defence landscape has witnessed a tectonic shift over the past decade. 'From being the world's largest importer in 2015, India has emerged as one of the top 25 defence exporters," Singh had noted.
First Published:
June 18, 2025, 20:41 IST

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Jeff Bezos-Lauren Sanchez wedding: Here's why Venice locals have threatened to block canals
Jeff Bezos-Lauren Sanchez wedding: Here's why Venice locals have threatened to block canals

Hindustan Times

time19 minutes ago

  • Hindustan Times

Jeff Bezos-Lauren Sanchez wedding: Here's why Venice locals have threatened to block canals

As Amazon founder Jeff Bezos gears up to tie the knot with journalist Lauren Sanchez in Venice later this month, not many in Italy's canal city are happy with the high-profile wedding. Few locals have even threatened to block Venice's popular canals. Last week, a group of young people, who described themselves as 'precarious' or under-employed, gathered in a square near the foot of the city's iconic Rialto bridge, CNN reported. In their call to action against the impending nuptials, the protesters put up a massive 'No Space for Bezos' banner, which also featured the Blue Origin rocket in the center. Nearly 300 residents took part in the protest and were cheered by a handful of speakers. The former school armory has been turned into an events venue. There are rumors that the main ceremony could take place here on June 28. On June 12, the protesters somehow managed to hang a 'No Bezos' sign on the bell tower on Thursday. Speaking at the protest, organizer Federica Toninello said that they will ensure that Bezos "never gets to the Misericordia'. "We will block the canals, line the streets with our bodies, block the canals with inflatables, dinghies, boats," CNN quoted Toninello as saying. Another speaker at the event, Na Haby Stella Faye, asked people to make sure the wedding is remembered for their opposition and not Sanchez's outfit changes. Faye said Venice should be remembered as "the city that did not bend to oligarchs'. Questions have been raised over the arrival of Bezos' $500 million superyacht Koru. Venice, one of the most favored tourist destinations worldwide, is said to be combating problems with over-tourism. The city is already charging a 10-euro day-tripper entrance fee during the weekends and peak periods. This comes as residents are leaving the city due to lack of services, such as schools and hospitals. Also Read: Venice locals protest against Jeff Bezos, Lauren Sanchez's lavish wedding: 'No space for Bezos' The city has witnessed several protests before, which have been quite successful. The 'No Grandi Navi' or 'no big ships' campaign, which lasted for years, during the pre-Covid era had banned entry of giant cruise ships from anywhere near the city center. These restrictions led to widespread changes in cruise itineraries. Last week, Luigi Brugnaro hoped that the protest wouldn't dissuade Bezos and Sanchez from going ahead with their plans. He even stated that he was "ashamed of those who behave like this." The couple is expected to tie the knot by the end of June. As per reports, ceremonies take place at the island of San Giorgio Maggiore as well as the 14th century Misericordia, former school armory turned exclusive events venue in central Venice.

US stocks trade in range after Fed keeps interest rate unchanged
US stocks trade in range after Fed keeps interest rate unchanged

Economic Times

timean hour ago

  • Economic Times

US stocks trade in range after Fed keeps interest rate unchanged

Wall Street's main indexes traded in range after a brief volatility on Wednesday after the Federal Reserve kept the interest rates unchanged at the 4.25%–4.5% range for the sixth consecutive meeting, even as escalating hostilities in the Middle East raised concerns among investors. ADVERTISEMENT A nearly 2% fall in oil prices also boosted equities midday after U.S. President Donald Trump said Iran wanted to negotiate. At 2:25 pm, the Dow Jones was up 105.65 points or 0.25% to close at 42,321.45, the S&P 500 gained 14.49 points or 0.24% to end at 5,997.21, and the Nasdaq advanced 61.06 points or 0.31% to settle at 19,582.15. All three indices saw a sharp rise soon after the Fed's decision was released, only to fall back in the current range. Investors will consider Fed Chair Jerome Powell's comments to gauge how he plans to combat the risk of rising prices, which remains a dominant concern for the central bank. The Fed is expected to leave rates unchanged at its meeting. "Trade tensions have come down somewhat compared to the last time the FOMC met," but it remains to be seen whether the Fed will adjust its commentary or expectations in relation to the inflationary impact of tariffs, said Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management. Ahead of the monetary policy decision, money market moves show traders are pricing in about 47 basis points of rate cuts by the end of 2025, with a 56% chance of a 25-bps rate cut in September, according to CME Group's FedWatch tool. ADVERTISEMENT Following strong monthly equity trading in May, the benchmark S&P 500 index and the Nasdaq were close to record peaks before the ongoing conflict in the Middle East made investors risk averse. The S&P 500 index stood 2.3% below its record level, and the tech-heavy Nasdaq remained 2.7% lower. ADVERTISEMENT Investors have been anxious over the possibility of a more direct U.S. military involvement in the Israel-Iran aerial war. A source familiar with internal discussions said U.S. President Donald Trump and his team were considering a number of options, which included joining Israel in strikes against Iranian nuclear sites. ADVERTISEMENT Ten of the 11 major S&P 500 sub-sectors rose. Energy stocks declined 0.6%, while consumer discretionary led gains with a nearly 1% rise. Among megacap stocks, shares of Tesla gained 2.7%. ADVERTISEMENT Shares of networking and custom AI chipmaker Marvell Technology hit a three-month high and were last up 7%. Shares of stablecoin issuer Circle Internet rose over 16% after the U.S. Senate passed a bill to create a regulatory framework for dollar-pegged cryptocurrency tokens known as stablecoins. Steelmaker Nucor rose 3.6% following a second-quarter profit forecast that came above analysts' estimates. Initial jobless claims data on Wednesday showed the number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June. Advancing issues outnumbered decliners by a 2.89-to-1 ratio on the NYSE and by a 2.44-to-1 ratio on the Nasdaq. The S&P 500 posted 12 new 52-week highs and six new lows, while the Nasdaq Composite recorded 55 new highs and 71 new lows. (You can now subscribe to our ETMarkets WhatsApp channel)

Ready to break taboos: Government to open nuclear sector to private participation
Ready to break taboos: Government to open nuclear sector to private participation

India Today

timean hour ago

  • India Today

Ready to break taboos: Government to open nuclear sector to private participation

In a major policy shift that could redefine India's energy landscape, the government has announced its intention to open up the civil nuclear sector to private declaration was made by the Minister of Science and Technology and Earth Sciences, Dr Jitendra Singh, who emphasised that this transformative step is part of the broader vision of aligning India's developmental strategies with global is a sector that has historically operated under a veil of secrecy. For decades, the nuclear domain remained untouched by private industry due to legacy policies and strategic concerns. But today, under the leadership of Prime Minister Narendra Modi, we are ready to break past taboos and take bold decisions," Dr Singh stated.A STRATEGIC SHIFT IN POLICY Highlighting the importance of this decision, the minister remarked: "The Prime Minister himself has said this – we are going to open this up to the private sector. This has been possible only because we have a Prime Minister with the conviction and capacity to break outdated mindsets."According to Dr Singh, the move aligns with India's aspiration to become a top global economy, which necessitates adopting international benchmarks and best practices. "We aim to reach the pedestal of rank one in the global economy. To get there, our benchmarks must be global benchmarks," he minister pointed out that synergy between the public and private sectors is now non-negotiable for achieving high-end technological growth, particularly in sectors that have traditionally remained government FROM THE SPACE SECTORDrawing parallels with India's recent success in the space sector, Dr Singh cited it as a model for what private sector collaboration can achieve."Just look at what happened when we opened up the space sector. In just four years, we moved from being a minimal player to building an 8 billion USD economy. Projections now estimate we will exceed 45 billion USD in the coming years," he noted that this "sea change" was driven by enabling private enterprise to innovate and scale alongside government agencies such as A MODEL FOR INSTITUTIONALISED PRIVATE PARTNERSHIPDr Singh also referred to similar collaborations in the biotechnology sector, where the government has developed structured mechanisms for private engagement. "We have institutionalised this collaboration and created interfaces which only a few countries have been able to achieve," he NUCLEAR SECTOR: THE NEXT FRONTIERThe civil nuclear sector, which until now has remained firmly under state control due to strategic and security sensitivities, is now being considered for a new operational framework that includes private are still working out the modalities of how exactly this will be done. The Prime Minister has given us the green signal, and we are committed to building a robust system where the private and public sectors can co-exist in this highly sensitive domain," Dr Singh acknowledged that while implementation details are still under discussion, the policy direction is clear: India is moving towards an inclusive, innovation-driven nuclear ecosystem.A NEW ERA FOR INDIA'S STRATEGIC SECTORSThis announcement is being seen as a watershed moment in India's approach to strategic industries. The government's willingness to shed past inhibitions and embrace private collaboration could unlock new technological capabilities, fast-track innovation, and attract both domestic and global investment in the nuclear energy experts and strategic analysts are closely watching the move, as the framework for private sector entry into civil nuclear power could potentially mirror – or even surpass – the success stories seen in space and Watch

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store