Latest news with #AtmanirbharBharat
Indian Express
12 hours ago
- General
- Indian Express
Ist indigenous diving support vessel Nistar commissioned
The first indigenously designed and constructed diving support vessel INS Nistar was commissioned into the Navy Friday for undertaking complex deep-sea saturation diving and submarine rescue operations — a niche capability possessed by select navies globally. INS Nistar is the first of the two diving support vessels being built by Hindustan Shipyard Ltd. At the commissioning ceremony in Visakhapatnam, Navy Chief Admiral Dinesh K Tripathi said INS Nistar is not just a technological asset, but a crucial operational enabler. 'Nistar will provide critical submarine rescue support to the Indian Navy as well as our regional partners,' he said, adding that this will enable India to emerge as a Preferred Submarine Rescue Partner in the region. 'The commissioning of Nistar is testimony to the growing capability and maturity of our maritime industrial base, and another shining example of Atmanirbhar Bharat,' he said. MoS for Defence Sanjay Seth said the commissioning of the 118-m INS Nistar firmly reinforces the role of the Indian Navy as the 'first responder' and 'preferred security partner' in the region. 'The indigenous shipbuilding Industry has been one of the pillars of the government's Aatmanirbhar Bharat campaign,' he said, adding that INS Nistar's induction is a technological leap and a milestone in the Indian shipbuilding chapter towards building a future-ready force. Defence Minister Rajnath Singh said on X: 'This induction of the DSV, installed with state-of-the-art Equipment to undertake Saturation Diving and Salvage Operations, as well as serve as the 'Mother Ship' for Deep Submergence Rescue Vessel (DSRV), for rescue and evacuation of personnel from a Submarine in distress, is another milestone in India's journey towards ensuring Maritime Security and Safety in the Indian Ocean Region through Aatmanirbharta.' Currently, all 57 new warships in the pipeline are being constructed domestically. As per the Navy, INS Nistar is installed with state-of-the-art Diving Equipment such as remotely operated vehicles, self-propelled hyperbaric lifeboat, diving compression chambers. It can undertake diving and salvage operations up to a depth of 300 m. It would also serve as the 'Mother Ship' for deep submergence rescue vessels to rescue and evacuate personnel from a dived submarine in distress well below the surface. 'With participation of 120 MSMEs and incorporating over 80% indigenous content, INS Nistar is a statement to India's ability to build complex ships at par with international standards,' it said.
Mint
a day ago
- Business
- Mint
Bharat Dynamics, HAL, Mazagon Dock extend losses to third day amid profit booking; fall up to 4%
Defense stocks, including Bharat Dynamics, HAL, Mazagon Dock Shipbuilders, Bharat Electronics, Garden Reach Shipbuilders, and others, continued to witness selling pressure for the third straight session on Friday, July 18. In fact, the downtrend has persisted since the beginning of July. The steady decline in these counters appears to be a reaction to profit-booking by investors, following a strong rally over the past four months that pushed valuations to unsustainable levels. Among today's worst performers is Bharat Dynamics, which declined by 4% to ₹ 1,683 per share. This marks the seventh consecutive day of decline for the stock, leading to a 10% drop this week and a 20% decrease from its recent high. Other notable losers include Data Patterns, Drone Acharya Aerial Innovations, ideaForge Technology, HAL, Sika Interplant Systems, Mazagon Dock Shipbuilders, Astra Microwave Products, Apollo Micro Systems, Bharat Electronics, and Paras Defence and Space Technologies, all of which declined between 1.5% and 3.5%. Amid a sharp sell-off, the Nifty Defence index dropped 2% to hit a two-month low of 8,197 points and is on track to close the week in the red, after falling nearly 5% in the previous week. Defense stocks had made a strong comeback in March, with momentum picking up in May following the launch of 'Operation Sindoor,' during which India showcased the strength of its indigenously developed defense systems and successfully intercepted drones and missiles launched by Pakistan. The further rise in the tensions in the Middle East also supported the continued rally in these domestic-focused stocks. Additionally, strong March quarter earnings, rising order inflows, expectations of increased defense spending by the Indian government to further strengthen national security, and growing global demand for India's indigenously manufactured defense products have all played a role in driving defense stocks to record highs. This stellar performance also pushed the combined market capitalization of the 18 Nifty India Defence constituents past the ₹ 11 lakh crore mark for the first time, reaching ₹ 11.3 lakh crore. Over the years, the Government of India (GoI) has implemented numerous policy initiatives with Atmanirbhar Bharat at its core to enhance domestic defense production capabilities, encourage investments, and expand exports. As a result, defense procurement from domestic vendors has increased from 61% in FY2017 to about 75% in FY2025e, while exports have grown more than 15-fold, registering a healthy CAGR of 41% to reach ₹ 23,622 crore during the FY2017–FY2025e period, as per ICRA. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Hans India
a day ago
- Business
- Hans India
Common Incubation Centre at IIT Tirupati to boost food processing
Tirupati: Union minister for food processing industries (MoFPI) Chirag Paswan said that the newly-established Common Incubation Centre (CIC) at the Indian Institute of Technology (IIT) Tirupati is a model initiative that supports the vision of Atmanirbhar Bharat and the goal of doubling farmers' income. The minister inaugurated the facility virtually on Thursday and addressed the gathering at IIT Tirupati. District collector Dr S Venkateswar, Srikalahasti MLA Bojjala Sudhir Reddy, IIT Tirupati director Prof K N Satyanarayana, MoFPI joint secretary Devesh Dayal, state government's food processing secretary Chiranjeevi Chowdary and several others participated in the event. The CIC is aimed at promoting entrepreneurship in the Chittoor and Tirupati regions, with a special focus on the food processing sector. The facility is designed to facilitate value addition and processing of locally abundant produce like tomatoes, mangoes (including mango pulp), and other agricultural commodities. Appreciating IIT Tirupati's efforts in setting up the centre in collaboration with the MoFPI, Paswan said the Centre is committed to encouraging value addition and entrepreneurship in the food processing sector. He also assured that the government would extend all possible support for the successful completion of the project. The minister appreciated the detailed proposal presented by IIT Tirupati director and the state government's food processing secretary and lauded the initiative's potential to strengthen the local economy. Speaking at the event, MLA Sudhir Reddy praised IIT Tirupati for taking proactive steps to engage with local industries and youth. He said the incubation centre would be a game changer for the youth and farming communities of the region. The MLA also suggested forming an advisory committee with government representatives to study the horticulture and food processing needs of Chittoor and Tirupati districts, and to encourage growth in these sectors. District collector Venkateswar stated that Andhra Pradesh has made significant progress in the horticulture sector over the past 15 years, contributing around 9.5 per cent to the state's GDP. He mentioned that Tirupati district alone generates 9.25 per cent of its GDP from horticulture. He noted that Rayalaseema, once known as a drought-prone region, has undergone a remarkable transformation through horticulture. Along with micro-irrigation methods like drip and sprinkler systems, around 5 to 6 lakh farm ponds have been created with the support of NREGS and as per the Chief Minister's directives. These efforts have improved groundwater levels, greatly benefiting the horticulture sector, he added. IIT Tirupati director Prof Satyanarayana explained that the centre was conceived to foster rural entrepreneurs and startups in food processing, especially in Chittoor and Tirupati districts, which are major producers of tomatoes, mangoes, and other fruits. The facility was established at a cost of Rs 3.95 crore, of which Rs 2.75 crore was provided by the ministry of food processing industries, while IIT Tirupati contributed Rs 1.2 crore from its own resources. To fully equip the centre, an additional Rs 60 lakh is still required.
News18
2 days ago
- Business
- News18
Atmanirbhar In Space: How Modi Is Aligning India For Geostrategic Gains
Last Updated: PM Modi's vision of 'Atmanirbhar Bharat' is now profoundly shaping its trajectory in the space sector, transforming it into a critical pillar of national power & strategic autonomy The Indian Space Congress 2025 is in full session in Delhi. The meeting is lined with bureaucrats, decision-makers, policy personnel and of course, private players in the space sector looking to make a difference and boost India's space sector. And there is one theme that plays common through it all, 'Atmanirbharta'. PM Modi's vision of 'Atmanirbhar Bharat' is now profoundly shaping its trajectory in the space sector, transforming it into a critical pillar of national power and strategic autonomy. This push is evident in a series of landmark initiatives, from the successful launch of private satellite constellations to ambitious long-term space exploration goals. In January this year, PM Modi hailed Pixxel's 'Firefly', India's first private satellite constellation, as a testament to India's growing strength in space innovation and a significant stride towards self-reliance, noting its capacity for high-resolution imagery. Concurrently, ISRO's successful deployment of the indigenous EOS-08 Advanced Earth Orbiting Satellite, designed for critical remote sensing applications like ocean surface wind, soil moisture, and flood detection, underscores the nation's commitment to developing its own crucial space assets, despite initial launch challenges. These advancements serve as a testament to India's growing stature in the space sector. The government's 2020 space sector reforms and the Indian Space Policy, 2023, have been instrumental in fostering this indigenous growth by opening the sector to Non-Government Entities and increasing the FDI threshold to 100%. It has invigorated the private sector, allowing it to contribute significantly to India's space ambitions. Such an approach reduces India's reliance on foreign partners for critical space infrastructure and data, thereby enhancing its strategic autonomy in areas ranging from defence to climate monitoring. Looking ahead, the ambitious Space Vision 2047 targets, including the establishment of the Bharatiya Antariksh Station by 2035, an Indian Moon landing by 2040, and the development of a Next Generation Satellite Launch Vehicle by 2032, underscoring a long-term commitment to self-sufficiency in cutting-edge space capabilities. Bolstering Regional Initiatives: The IMEC Case The strategic implications of India's indigenous space capabilities extend directly to its role in key international infrastructure initiatives, most notably the India-Middle-East Europe Economic Corridor. Launched amid geopolitical complexities, IMEC requires a robust security and operational backbone, which space technologies can provide. Unlike China's Belt and Road Initiative and its Space Silk Road, which is solely led by Chinese assets, IMEC is a multi-partner endeavour involving nations with advanced space capabilities like India, the EU, and the US. It offers a unique opportunity for an international Space-IMEC Industrial Consortium, leveraging mature space technologies from commercial entities across all founding partners. India's advancements in space-based Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance systems are crucial for IMEC's secure operationalisation. Furthermore, the interoperability of India's NAVIC with the EU's Galileo and the US's GPS provides resilient Positioning, Navigation, and Timing support along the corridor. This is particularly vital for IMEC members such as the UAE, Saudi Arabia, and Jordan, who can rely on NAVIC's comprehensive coverage of their regions, ensuring efficient land-mode trade. The innovative application of downstream space technologies, from Earth observation for optimising routes and mitigating risks to satellite communications for seamless coordination, will enhance the security and prosperity of IMEC's supply chains. The emphasis on cybersecurity and a high-speed data pipeline, linking India's IT services to West Asia and beyond, further solidifies the strategic relevance of India's space assets in making IMEC a secure and prosperous corridor. India As Global Space Powerhouse India's growing self-reliance in space is also transforming its position in the global space market, moving from a domestic focus to a Make in India for the World approach. The global-first strategies adopted by leading Indian space start-ups are a convincing sign of things to come. Bellatrix Aerospace has established offices in the US and plans to expand into Europe, securing international partnerships and sales pipelines. Similarly, Pixxel, Dhruva Space, and Agnikul Cosmos have an entirely global sales pipeline. India's space economy is projected to grow from $8.4 billion in 2023 to $44 billion by 2033 and the country aims to capture 10% of the global space economy by 2030. International forums like the India Space Congress 2025 serve as crucial 'matchmaking hubs" for institutional investors, highlighting India's expanding commercial opportunities. Discussions on extending Earth Observation solutions to the Global South through US-India roundtables underscore India's role as a collaborative partner for shared prosperity. While the emphasis remains on indigenous development, there is a strategic pivot towards technology transfer and international cooperation, embodying the ancient Indian philosophy of Vasudhaiva Kutumbakam, ensuring that India's space prowess not only serves its national interests but also contributes to global well-being and security. view comments First Published: News opinion Opinion | Atmanirbhar In Space: How Modi Is Aligning India For Geostrategic Gains Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Time of India
2 days ago
- Business
- Time of India
ONGC, bp sign MoU to drill stratigraphic wells in offshore sedimentary basins
New Delhi: Oil and Natural Gas Corporation ( ONGC ) on Thursday signed a Memorandum of Understanding ( MoU ) with bp to collaborate on drilling stratigraphic wells in India's Category II and III offshore sedimentary basins including Andaman, Mahanadi, Saurashtra, and Bengal. The MoU was signed in the presence of Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on the sidelines of the second edition of Urja Varta 2025. The collaboration aims to enhance geological understanding and unlock hydrocarbon potential in underexplored offshore basins. 'We are excited to underpin our existing alliance with ONGC in this project of national and strategic significance,' Kartikeya Dube , Head of Country, bp India and Senior Vice President, bp group said. 'We believe drilling of new stratigraphic wells will be very valuable and can lead to a new understanding and potential. bp's experience in deep water exploration supported by new seismic technologies would be of great assistance during the evaluation and subsequent drilling of stratigraphic wells.' ONGC said on X, 'The MoU was signed in the presence of Petroleum Minister Hardeep Singh Puri, on the sidelines of Urja Varta 2025 reaffirming the Government's commitment to deepen global collaboration in India's energy journey. Global expertise meets national ambition, powering the path to Atmanirbhar Bharat.' The offshore basins covered under the agreement fall in Category II and III, which are designated as having potential but remain relatively unexplored. The collaboration is expected to contribute to India's long-term energy security by strengthening upstream data and enabling future exploration.
