Latest news with #SBS-3
Mint
17-05-2025
- Business
- Mint
The week in charts: Sensex cheer, tariff truce, satellite scheme
The end of the conflict between India and Pakistan and a trade deal between the US and China propelled the Indian stock markets to put up their best single-day performance in four years. Meanwhile, the government plans to expedite the implementation of its satellite surveillance programme in the aftermath of the Pahalgam terror attacks. Sensex roars India and Pakistan reached an understanding on 10 May to end the conflict after four days of cross-border military strikes following the terrorist attacks in Pahalgam. This development, along with the US-China trade deal of lower tariffs for 90 days, triggered the biggest rally in Indian equities on Monday in over four years. The Sensex climbed 3.7% to 82,429.90, marking its best gains since 1 February 2021. Markets have held on to the most of gains through the week, with the Sensex closing at 82,530.74 on Thursday. Tariff truce The US and China this week announced a 90-day tariff truce, bringing a temporary pause to a bruising trade war. Beginning 14 May, the US agreed to lower its tariffs on Chinese goods from 145% to 30% (10% baseline plus fentanyl-specific 20% levy), while China agreed to reduce its tariffs on US goods from 125% to 10%. Analysts are hopeful that the temporary reprieve could provide a window for further negotiations. The US runs the highest trade deficit with China despite a notable decline in recent years. Satellite power $3 billion: That is the amount allocated towards the Space-based Surveillance-3 (SBS-3) scheme, whose execution the government plans to expedite in the wake of the Pahalgam terrorist attacks. The Centre has directed three firms—Ananth Technologies, Centum Electronics, and Alpha Design Technologies—to shorten their satellite development timeline from four years to 12-18 months, targeting completion by the end of 2026 or earlier, Mint reported. A satellite by Ananth Technologies might even launch this year via ISRO's LVM3 or SpaceX. Under SBS-3, 52 surveillance satellites are being built. Price pullback India's retail inflation eased to a near six-year low of 3.2% in April, down from 3.3% in March. This marked the sixth consecutive monthly decline and third consecutive sub-4% print. However, core inflation, which excludes food, and fuel and light groups, remained above 4%, suggesting caution. Persistent price pressures were also evident in health and education costs, which continue to stay above 4%. Nevertheless, declining headline inflation has made it easier for the central bank to continue rate cuts in the coming months. Regional divide Car wholesales in eastern and southern states took a beating in 2024-25, while northern and western states continued to report growth, albeit at a slower pace. According to data released by the Society of Indian Automobile Manufacturers Association (SIAM), the eastern region recorded a 4.2% year-on-year decline in passenger vehicle wholesales in FY25 as opposed to a 4.2% growth in the previous year, Mint reported. Southern states recorded a 3.5% decline as opposed to 6.6%. On the other hand, western and northern states saw 4.4% and 6.6% growth, respectively. Musical deal $500-600 million: That is the potential value of the deal that involves Harman US selling a controlling stake in its Indian unit, Mint reported. Harman US, the maker of JBL, Harman Kardon and Infinity audio products, is a subsidiary of South Korea's Samsung. The company has approached global private equity and buyout firms for the deal and appointed Deutsche Bank to manage the process. Harman India operates across four segments—Lifestyle, Connected Car, Professional, and its India Development Centre, which serves as its software development hub. Mid-tier surge Mid-cap IT firms hired more employees in FY25, outpacing the big four—Tata Consultancy Services, Infosys, HCL Technologies, and Wipro, Mint reported. The top four added 9,442 employees, while their mid-tier rivals (with annual revenue of about $1-6 billion) collectively onboarded 25,794 employees. Among these, Coforge led with 8,771 new hires, surpassing TCS's hiring of 6,433. The top four are facing a slowdown due to their high exposure to the US and European markets for business, while the mid-sized firms are somewhat insulated from the external environment. Chart of the week: Results out! The Central Board of Secondary Education (CBSE) announced the Class X and XII board examination results on 13 May. The overall pass percentage was better among Class X at 93.7% versus 88.4% among Class XII students. Girls continued to outshine boys. Follow our data stories on the'In Charts" and'Plain Facts" pages on the Mint website.
Mint
15-05-2025
- Business
- Mint
Mint Primer: How do spy satellites work around the world?
Spy satellites may have been used in the lead-up to the terror attack in Pahalgam, reports say. But India also uses such satellites through the Indian Space Research Organisation (Isro) and has ramped up their deployment. How do these sky-borne spooks really work? Also Read | What the US-China trade deal means for IT services cos Are spy satellites common? Yes. Most spacefaring nations have their own surveillance satellites that are operated by government-backed space agencies. The US National Aeronautics and Space Administration (Nasa) operates many types of surveillance satellites to do reconnaissance for military operations. In India, Isro's latest spy satellites include the Earth Observation Satellite (Eos) series, launched in 2020. A new Space-based Surveillance-3 (SBS-3) project seeks to put a constellation of surveillance satellites in orbit within the next four years to offer defence support in the interest of national security, Mint reported Monday. Also Read | Can border fight help settle big vs small screen row? How do spy satellites really work? Stationary satellites, which align with the earth's rotation, can be placed above a particular region. Low-earth orbit (Leo) satellites work as a constantly orbiting constellation, but relay information as a chain between each other, and subsequently to a ground station. These satellites have hyperspectral imaging cameras, which capture ultra-high resolution data of what lies below. For spy satellites, their imaging capability should be of the highest possible order—and their data transmissions are typically limited within a geography. To be sure, private surveillance satellite firms also exist. Also Read | This rice is set to make your meal climate-friendly Do private firms offer surveillance too? Sure. One such firm is homegrown satellite operator, Bengaluru-born Pixxel. Data from its satellite constellation can be bought for uses such as disaster management, conservation, etc. US firm BlackSky has been hired by French-Italian firm Thales Alenia Space to build a private surveillance service for Indian defence manufacturer, Nibe Ltd. Can't surveillance satellites be hacked? Theoretically, yes. All surveillance satellites carry sensitive data that is encrypted in various forms such as globally standardized Advanced Encryption Standard (AES), as well as more sophisticated forms. Data encryption is implemented in the broadcast of sensitive satellite data at a ground station level as well, while the satellites themselves would have geolocation restrictions in terms of the range of area within which the data is beamed from them. This is what primarily differentiates them from general-use earth image satellites. So, public-private partnerships next? Why not. India's new SBS-3 spying programme is using private firms to make the satellites. While the contract is closely monitored and controlled by the government and Isro, using private firms gives governments flexibility to make the most of surveillance data through analytics. In the long run, most governments plan to do this, since not every nation has its own satellites, let alone a space programme. Estimates peg the private satellite data industry globally to be worth $15 billion, driven by government contracts.
News18
12-05-2025
- Business
- News18
Rs 22,500-Crore Spy Satellite Push: India Slashes Timeline From 4 Years To 1
Last Updated: The Space Based Surveillance (SBS-3) program involves the production of 52 spy satellites, with 31 assigned to three private companies and the remaining 21 to be developed by ISRO After four days of heavy cross-border firing and drone activity, the intervening night of May 11 and 12 saw no incidents of overnight firing along the heavily militarized Line of Control. India and Pakistan on Saturday reached an understanding to stop all military actions on land, in the air and at the sea to stop escalating hostilities between the two nuclear-armed rivals. India is now undertaking a significant initiative to bolster its intelligence-gathering capabilities by enhancing its spy satellite system. According to a report in The Mint, the need to strengthen the spy system has become apparent to both military forces and the government following Operation Sindoor. The Indian government is collaborating with three private companies — Anant Technologies, Centum Electronics, and Alpha Design Technologies — to expedite the construction of these satellites. Initially, these companies had four years to complete the task, but the timeline has now been shortened to 12-18 months, with an aim to have the satellites operational by 2026 or earlier. This project, which has received government approval due to its critical importance, is expected to cost approximately Rs 22,500 crore ($3 billion). Known as the Space Based Surveillance (SBS-3) program, the initiative received the green light from the Cabinet Committee on Security in October 2024. It involves the production of a total of 52 spy satellites, with 31 assigned to the three private companies and the remaining 21 to be developed by the Indian Space Research Organisation (ISRO). The primary function of these satellites will be to monitor India's borders, particularly tracking activities in Pakistan. Additionally, they will provide crucial assistance during natural disasters such as floods or earthquakes. Elon Musk's SpaceX will provide support for this project. The satellites will be developed and launched in several phases. Companies like Anant Technologies will design and develop some of the satellites from scratch, having spent the past year raising awareness about the project to attract technical experts. The Satish Dhawan Space Centre of ISRO will be utilised for the satellite launches, with two options available: ISRO's heavy rocket (LVM3) or SpaceX's rocket. Both will be employed to place the satellites into their respective orbits. Strict deadlines have been set for the completion of this work, and the Ministry of Defence must grant approval before any satellite launches. This project is of paramount importance for India's national security. An expert cited in The Mint highlighted that this satellite system represents a significant advancement for India. It not only enhances the security of the country's borders but also improves infrastructure. This initiative is also a considerable opportunity for India's private space companies, as they receive substantial contracts, enabling them to advance their technology and expedite their work, thus positioning India further ahead in the space sector. First Published: May 12, 2025, 11:20 IST
Mint
12-05-2025
- Business
- Mint
India fast-tracks $3-billion spy satellite scheme following Operation Sindoor
New Delhi: India is looking to give its satellite-based surveillance capabilities a rapid makeover, as the country navigates a tenuous ceasefire with neighbour Pakistan after the worst hostilities seen since a war between them in 1971. The Centre has tasked three private firms–Ananth Technologies, Centum Electronics, and Alpha Design Technologies–to compress their satellite development timeline from four years to 12-18 months, according to three people aware of the matter. The satellites are now targeted to be ready by end-2026 or earlier instead of end-2028, the three people said, requesting anonymity due to the matter's sensitivity. One of the satellites–under advanced stages of development by Ananth Technologies–may even be ready this year itself, one of the people cited above said. It would be launched either aboard Isro's heavy rocket, Launch Vehicle Mark-III (LVM3), or Elon Musk-backed SpaceX—depending on their respective mission schedules this year. Also read | Operation Sindoor: A doctrinal shift and an inflection point The soft orders to expedite the latest generation of surveillance satellites were issued from the ministry of defence (MoD) just before India commenced Operation Sindoor against Pakistan. The accelerated effort is part of the $3-billion Space-based Surveillance-3 (SBS-3) scheme, which was approved by the cabinet committee on security (CCS) last October with a net budgetary outlay of $3 billion subject to revisions. In this scheme, a total of 52 surveillance satellites are being built. While the three private companies are building 31 of these, the remaining will be built and deployed gradually by India's central space agency, Indian Space Research Organisation (Isro). 'It is a necessary move in light of such sensitive geopolitical interactions," one of the people cited above said, adding that the SBS-3 constellation will work as a crucial piece of infrastructure for India's national security, and is a prime example of the kind of large contracts that the Centre can offer private space firms. Emailed queries sent to the three companies, as well as the defence ministry—the nodal ministry that will access the satellites for national defence and security usage—did not receive responses till press time. Spy satellite builders The three private-sector companies—Hyderabad-based Ananth Technologies, and Bengaluru-based Centum Electronics and Alpha Design Technologies—are long-standing partners, suppliers and vendors of Isro, and have played key roles in previous surveillance satellites, as well as landmark Indian space missions such as the successful Chandrayaan-3. Ananth Technologies, led by former Isro veteran Subba Rao Pavuluri, was a key supplier of components to the Chandrayaan-3 mission. So, too, was Centum—led by its chairman, Apparao Mallavarapu. Ananth Technologies earned ₹270 crore in revenue in FY24. In the same fiscal year, Centum, which is publicly listed on the National Stock Exchange, reported ₹632 crore in revenue. In FY25 (nine months to December 2024), it reported revenue of ₹479 crore. The third company, Alpha Design, was wholly acquired by Adani Defence and Aerospace, which is a subsidiary of Adani Enterprises, in April 2019. Alpha Design has been one of Isro's key partners in building and deploying the Indian Regional Navigation Satellite System (IRNSS), which seeks to replace the global positioning system (GPS) in India with NavIC, an indigenous navigation standard. The company reported ₹536 crore in operating revenue in FY24, as per data from credit rating agency, Crisil. Also read | Operation Sindoor: India repulses drone attacks as conflict continues All three companies are rated highly by credit rating agencies Care Edge and Crisil, based on large pending orders driven by Isro and the ministry of defence (MoD), among others. For space firms, internal government contracts are key. In July 2024, former Isro chairman S. Somanath told Mint on the sidelines of a space conclave in New Delhi that the Centre, along with Isro and multiple agencies across ministries, is working to create awareness of the capabilities that private space firms bring to the table, and how they can be tapped for cutting-edge purposes such as secure communications, data analytics and more. Industry veterans, too, believe that private firms can play key roles. Chaitanya Giri, space fellow at global think-tank Observer Research Foundation (ORF), told Mint that private space firms will continue to be preferred in large-scale, sensitive projects such as SBS-3. 'Each of these private players are already suppliers to the central space agency, which makes the manufacturing and eventual deployment of satellites for various purposes a project right up their alley," Giri said. 'In the long run, more such government projects will see India start to drive revenue to the private space sector in the same model as the rest of the world—despite them wanting to showcase the Indian space sector as an open market." Also read | Operation Sindoor: Tensions spark worry over kharif sowing in border states
