Latest news with #DefExpo
Hans India
25-05-2025
- Business
- Hans India
CM seeks Modi's help for infra, metro rail projects in state
New Delhi / Hyderabad: Chief Minister A Revanth Reddy has on Saturday put a plethora of demands before Prime Minister Narendra Modi and sought the latter's support to complete the proposed infrastructure development projects in Telangana. He also urged for Union Cabinet approval for pending Hyderabad Metro Rail phase-2 project, Regional Ring Railway project, etc. The Chief Minister also requested the Prime Minister to allot the next DefExpo to Telangana. The CM called on the Prime Minister in New Delhi on Saturday and discussed the pending clearance of the projects before the Union government. Revanth Reddy said that the state the government has submitted Metro Rail Phase-II proposals to the Ministry of Housing and Urban Affairs on 4th November, 2024 and the Ministry has sought some clarifications and the State also replied to. He requested the ministry to expedite and give Cabinet approval for the project. He appealed to the PM to consider the approval of the Southern part of the RRR and take up works simultaneously with the northern part of the Regional Ring Road to avoid cost escalation. 'Unless both Northern and Southern parts are taken up simultaneously and completed fully, both roads cannot be put to efficient use. Telangana Government is willing to share 50% of the land acquisition cost for Southern part also', he said. The proposed Regional Ring Railway, green field highway from Bandar port to Dry port near Hyderabad to enhance connectivity and reduce freight cost and supports the region's industrial and export requirements were also discussed in the meeting. The CM requested Modi's support to strengthen Telangana's position in India's semiconductor ecosystem. He said that State is fully aligned with India's Semiconductor Mission (ISM) and aims to be a premier hub for advanced semiconductor and electronics manufacturing. The CM asserted the support of the Centre for Defence Projects of both Defence PSUs and private sector defence JVs, capacity building of defence MSMEs and promotion of defence ecosystem in Hyderabad. He emphasised the need for fast-track approvals for defence JVs & offsets. He also appealed to the PM to allot a dedicated approval channel to attract global investments and boost exports and the Hyderabad-Bangalore Defence Corridor. As a leading defence manufacturing hub, Hyderabad deserves to host the next DefExpo, Revanth Reddy said that defence MSMEs required incentives due to high investment and long gestation periods.
New Indian Express
22-04-2025
- Business
- New Indian Express
Army on buying spree, inks Rs 85K cr deals for arms procurement in '24-'25
NEW DELHI: The Indian Army has worked out major procurement deals with an expenditure of Rs 85,000 crore for 2024-2025, with a thrust on self-reliance. '26 capital procurement contracts totalling Rs 85,000 crore have been finalised in the capital budget, with only three sourced from foreign vendors,' an Army source said. On the utilisation of the budget under the capital head, 'Army utilised Rs 35,000 crore. 95% of this expenditure was allocated to domestic sources, reinforcing the Make-in-India initiative,' source said. According to planners in the Army, money spent on procurements from the indigenous sources adds to the growth of the economy and employment generation. 'Indian Army's historic Rs 85,000 crore procurement spree marks a decisive push for self-reliance, dramatically transforming India's military capabilities into a future-ready force,' a defence official said. Army's domestic procurement and indigenous defence production are 'not only strengthening operational preparedness but also acting as a powerful economic stimulus, driving job creation, investment, and industrial growth,' the official said. The move, as part of the Aatmanirbhar Bharat, is expanding India's indigenous defence manufacturing ecosystem. 'It is expected to stimulate economic growth, boost GDP, and create thousands of skilled jobs,' the official said. The total allocation towards the defence was Rs 6,21,541 crore for 2024-25. The Union Budget made a provision of Rs 6, 81,210.27 crore for 2025-26 for the defence ministry. The allocation for defence capital expenditure for 2024-25 is Rs 1.72 lakh crore. The capital budget is spent on adding new weapons, systems and equipment. 'In the current geopolitical scenario where the world is witnessing a changing paradigm of modern warfare, Indian armed forces need to be equipped with state-of-the-art weapons and have to be transformed into a technologically advanced combat-ready force. Keeping this in view, Rs 1,80,000 crore has been allocated on capital outlay of the defence forces. This allocation is 4.65% higher than the budgetary estimate (BE) of 2024-25,' the MoD said. Plans to hold Defence Expo in Ranchi India's next edition of the DefExpo is to be held in Ranchi, Jharkhand, if things go as planned. 'The international 5-day DefExpo is likely to be held in Ranchi, which happens to be the Lok Sabha constituency of Minister of State for Defence Sanjay Seth,' said a source.
