Latest news with #SmallIndustriesDevelopmentBankofIndia
The Sun
2 hours ago
- Business
- The Sun
India launches $234M drone incentive amid Pakistan conflict
NEW DELHI: India will launch a $234 million incentive programme for civil and military drone makers to reduce their reliance on imported components and counter rival Pakistan's programme built on support from China and Turkey, three sources told Reuters. India's push to build more home-grown drones stems from its assessment of the four-day clash with Pakistan in May that marked the first time New Delhi and Islamabad utilized unmanned aerial vehicles at scale against each other. The nuclear-armed neighbours are now locked in a drones arms race. New Delhi will launch a 20 billion Indian rupees ($234 million) programme for three years that will cover manufacture of drones, components, software, counter drone systems, and services, two government and one industry source, who did not want to be named, told Reuters. Details of the programme have not been previously reported and its planned expenditure is higher than the modest 1.2 billion rupees production-linked incentive scheme New Delhi launched in 2021 to promote drone start-ups, which have struggled to raise capital and invest in research. India's civil aviation ministry, which is leading the incentives programme, and defence ministry did not immediately respond to e-mails seeking comment. Reuters previously reported that India plans to invest heavily in local industry and could spend as much as $470 million on unmanned aerial vehicles over the next 12 to 24 months, in what government and military officers said would be a staggered approach. In the past, India has mainly imported military drones from its third-largest arms supplier, Israel, but in recent years its nascent drone industry has scaled up its cost-effective offerings, including for the military, although reliance on China continues for certain components such as motors, sensors and imaging systems. Through the incentives, India is aiming to have at least 40% of key drone components made in the country by the end of fiscal year 2028 (April-March), the two government sources said. 'During (the India-Pakistan) conflict there was quite a lot of use of drones, loitering munitions and kamikaze drones on both sides,' Indian Defence Secretary Rajesh Kumar Singh said last week. 'The lesson that we've learned is that we need to double down on our indigenisation efforts to ensure that we build a large, effective, military drone manufacturing ecosystem.' India bans import of drones but not their components and the government has planned additional incentives for manufacturers that procure parts from within the country, the two government sources said. The state-run Small Industries Development Bank of India would also support the incentive programme by providing cheap loans for working capital, research and development needs for the firms, the government sources added. Currently, there are more than 600 drone manufacturing and associated companies in India, according to estimates shared by an industry source involved in the discussions for the incentives programme. ($1 = 85.5950 Indian rupees) - Reuters
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Business Standard
3 hours ago
- Business
- Business Standard
India plans ₹2,000 cr drone incentive after Pakistan conflict, sources say
India will launch a $234 million incentive programme for civil and military drone makers to reduce their reliance on imported components and counter rival Pakistan's programme built on support from China and Turkey, three sources told Reuters. India's push to build more home-grown drones stems from its assessment of the four-day clash with Pakistan in May that marked the first time New Delhi and Islamabad utilized unmanned aerial vehicles at scale against each other. The nuclear-armed neighbours are now locked in a drones arms race. New Delhi will launch a 20 billion Indian rupees ($234 million) programme for three years that will cover manufacture of drones, components, software, counter drone systems, and services, two government and one industry source, who did not want to be named, told Reuters. Details of the programme have not been previously reported and its planned expenditure is higher than the modest 1.2 billion rupees production-linked incentive scheme New Delhi launched in 2021 to promote drone start-ups, which have struggled to raise capital and invest in research. India's civil aviation ministry, which is leading the incentives programme, and defence ministry did not immediately respond to e-mails seeking comment. Reuters previously reported that India plans to invest heavily in local industry and could spend as much as $470 million on unmanned aerial vehicles over the next 12 to 24 months, in what government and military officers said would be a staggered approach. In the past, India has mainly imported military drones from its third-largest arms supplier, Israel, but in recent years its nascent drone industry has scaled up its cost-effective offerings, including for the military, although reliance on China continues for certain components such as motors, sensors and imaging systems. Through the incentives, India is aiming to have at least 40% of key drone components made in the country by the end of fiscal year 2028 (April-March), the two government sources said. "During (the India-Pakistan) conflict there was quite a lot of use of drones, loitering munitions and kamikaze drones on both sides," Indian Defence Secretary Rajesh Kumar Singh said last week. "The lesson that we've learned is that we need to double down on our indigenisation efforts to ensure that we build a large, effective, military drone manufacturing ecosystem." India bans import of drones but not their components and the government has planned additional incentives for manufacturers that procure parts from within the country, the two government sources said. The state-run Small Industries Development Bank of India would also support the incentive programme by providing cheap loans for working capital, research and development needs for the firms, the government sources added. Currently, there are more than 600 drone manufacturing and associated companies in India, according to estimates shared by an industry source involved in the discussions for the incentives programme.
Business Recorder
3 hours ago
- Business
- Business Recorder
India plans $230 million drone incentive after Pakistan conflict, sources say
NEW DELHI: India will launch a $234 million incentive programme for civil and military drone makers to reduce their reliance on imported components and counter rival Pakistan's programme built on support from China and Turkiye, three sources told Reuters. India's push to build more home-grown drones stems from its assessment of the four-day clash with Pakistan in May that marked the first time New Delhi and Islamabad utilized unmanned aerial vehicles at scale against each other. The nuclear-armed neighbours are now locked in a drones arms race. New Delhi will launch a 20 billion Indian rupees ($234 million) programme for three years that will cover manufacture of drones, components, software, counter drone systems, and services, two government and one industry source, who did not want to be named, told Reuters. 30 Indian-sponsored terrorists killed in North Waziristan border infiltration attempt: ISPR Details of the programme have not been previously reported and its planned expenditure is higher than the modest 1.2 billion rupees production-linked incentive scheme New Delhi launched in 2021 to promote drone start-ups, which have struggled to raise capital and invest in research. India's civil aviation ministry, which is leading the incentives programme, and defence ministry did not immediately respond to e-mails seeking comment. Reuters previously reported that India plans to invest heavily in local industry and could spend as much as $470 million on unmanned aerial vehicles over the next 12 to 24 months, in what government and military officers said would be a staggered approach. In the past, India has mainly imported military drones from its third-largest arms supplier, Israel, but in recent years its nascent drone industry has scaled up its cost-effective offerings, including for the military, although reliance on China continues for certain components such as motors, sensors and imaging systems. Through the incentives, India is aiming to have at least 40% of key drone components made in the country by the end of fiscal year 2028 (April-March), the two government sources said. 'During (the India-Pakistan) conflict there was quite a lot of use of drones, loitering munitions and kamikaze drones on both sides,' Indian Defence Secretary Rajesh Kumar Singh said last week. 'The lesson that we've learned is that we need to double down on our indigenisation efforts to ensure that we build a large, effective, military drone manufacturing ecosystem.' India approves stealth fighter programme amid tensions with Pakistan India bans import of drones but not their components and the government has planned additional incentives for manufacturers that procure parts from within the country, the two government sources said. The state-run Small Industries Development Bank of India would also support the incentive programme by providing cheap loans for working capital, research and development needs for the firms, the government sources added. Currently, there are more than 600 drone manufacturing and associated companies in India, according to estimates shared by an industry source involved in the discussions for the incentives programme.
Yahoo
4 hours ago
- Business
- Yahoo
India plans $230 million drone incentive after Pakistan conflict, sources say
By Sarita Chaganti Singh and Shivam Patel NEW DELHI (Reuters) -India will launch a $234 million incentive programme for civil and military drone makers to reduce their reliance on imported components and counter rival Pakistan's programme built on support from China and Turkey, three sources told Reuters. India's push to build more home-grown drones stems from its assessment of the four-day clash with Pakistan in May that marked the first time New Delhi and Islamabad utilized unmanned aerial vehicles at scale against each other. The nuclear-armed neighbours are now locked in a drones arms race. New Delhi will launch a 20 billion Indian rupees ($234 million) programme for three years that will cover manufacture of drones, components, software, counter drone systems, and services, two government and one industry source, who did not want to be named, told Reuters. Details of the programme have not been previously reported and its planned expenditure is higher than the modest 1.2 billion rupees production-linked incentive scheme New Delhi launched in 2021 to promote drone start-ups, which have struggled to raise capital and invest in research. India's civil aviation ministry, which is leading the incentives programme, and defence ministry did not immediately respond to e-mails seeking comment. Reuters previously reported that India plans to invest heavily in local industry and could spend as much as $470 million on unmanned aerial vehicles over the next 12 to 24 months, in what government and military officers said would be a staggered approach. In the past, India has mainly imported military drones from its third-largest arms supplier, Israel, but in recent years its nascent drone industry has scaled up its cost-effective offerings, including for the military, although reliance on China continues for certain components such as motors, sensors and imaging systems. Through the incentives, India is aiming to have at least 40% of key drone components made in the country by the end of fiscal year 2028 (April-March), the two government sources said. "During (the India-Pakistan) conflict there was quite a lot of use of drones, loitering munitions and kamikaze drones on both sides," Indian Defence Secretary Rajesh Kumar Singh said last week. "The lesson that we've learned is that we need to double down on our indigenisation efforts to ensure that we build a large, effective, military drone manufacturing ecosystem." India bans import of drones but not their components and the government has planned additional incentives for manufacturers that procure parts from within the country, the two government sources said. The state-run Small Industries Development Bank of India would also support the incentive programme by providing cheap loans for working capital, research and development needs for the firms, the government sources added. Currently, there are more than 600 drone manufacturing and associated companies in India, according to estimates shared by an industry source involved in the discussions for the incentives programme. ($1 = 85.5950 Indian rupees) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
The Hindu
3 days ago
- Business
- The Hindu
Efforts on to revive effluent plant project in Edayar industrial area
The government is exploring options to revive the project to set up a common effluent treatment plant (CETP) for industrial units along the Eloor-Edayar stretch of the Periyar. The much-delayed project was expected to get a push after the government had earmarked around ₹30 crore towards a ₹250-crore assistance promised by the Small Industries Development Bank of India (SIDBI) for setting up CETPs in various industrial estates in the State. However, the Centre's borrowing restrictions on the State had delayed its implementation. Industries Minister P. Rajeeve said on Tuesday that the restrictions on taking loans had impacted the CETP project under assistance from the SIDBI. However, the government was looking at whether it could be included under the Guarantee Redemption Fund (GDR), which was meant to cover government guarantees offered for loans availed by public sector entities and cooperatives, he said. The monthly progress report on the updated status of the short- and long-term projects for the rejuvenation of the Periyar submitted before the Ministry of Jal Shakthi for May had quoted a decision taken at a meeting called by the Chief Secretary on February 9, 2023 saying that the CETP project might be dropped. All the units may be advised to have their own facilities for treatment of effluents. The fund allotted for the project may be utilised for any other liquid waste treatment project, it said. According to the detailed project report for the CETP in Edayar, the proposed plant will have the capacity to treat two million litres per day. A preliminary report prepared by the Kerala Water Authority said that the site identified for the project was close to the north-western portion of the industrial estate, which was previously occupied by the now defunct Periyar Chemical Industries. There was sufficient land with a facility to discharge to the downstream of the Pathalam regulator-cum-bridge of the Periyar, it said.
