Bihar Govt transfers 11 IAS officers

Bihar Govt transfers 11 IAS officers

Speed Post News Network Patna : Bihar government on February 18, 2019, transferred 11 IAS belonging to 2014, 2015, and 2016 batch to different places. Udita Singh, an IAS officer of 2014 More »

Prabhu addresses India-Argentina Business Forum

Prabhu addresses India-Argentina Business Forum

  Speed Post News Network New Delhi : Union Minister for Commerce & Industry and Civil Aviation Suresh Prabhu on February 18, 2019, said that India is keen to strengthen bilateral ties More »

PM to visit Varanasi on Feb. 19, to inaugurate Homi Bhabha Cancer Hospital Lehartara

PM to visit Varanasi on Feb. 19, to inaugurate Homi Bhabha Cancer Hospital Lehartara

Speed Post News Network New Delhi : Prime Minister Narendra Modi will visit Varanasi, Uttar Pradesh, on February 19, 2019, and unveil several development projects there. The PM will flag off the More »

Fifth bathing festival of Prayagraj Kumbh on Feb.19

Fifth bathing festival of Prayagraj Kumbh on Feb.19

Speed Post News Network New Delhi : The 5th bathing festival of Maghi Purnima at Prayagraj Kumbh will take place on February 19, 2019. A large number of devotees and tourists are More »

NHRC notice to UP Govt. over unabated production of spurious liquor at Pusaina village

NHRC notice to UP Govt. over unabated production of spurious liquor at Pusaina village

Speed Post News Network New Delhi:  The National Human Rights Commission (NHRC) has taken suo motu cognizance of media report that at village  Pusaina in Mainpuri district of Uttar Pradesh out of More »

Two women hacked to death for dowry in W Champaran

Two women hacked to death for dowry in W Champaran

Speed Post News Network Bettiah : Two women, one of them pregnant, were hacked to death on February 17, 2019, allegedly by respective their in- laws for not bringing adequate dowry. Sources More »

 

21 Defence Offset Contracts signed by MOD in last 3 years : Minister

Speed Post News Network

New Delhi : Twentyone defence offset contracts with cumulative value of 5.67 Billion US Dollars approximately have been signed by Ministry of Defence (MOD) in last three years.

The MOD has assigned a study through Institute for Defence Studies and Analysis (IDSA) to ascertain the impact of offsets on Indian Defence Industrial Base.  The interim report has been received.

Defence industry sector was first opened up in May 2001 for 100% manufacturing by Indian Private sector including FDI up to admissible cap both subject to licensing.  Department of Industrial Policy & Promotion (DIPP) vide press note 5 (21016) notified revised FDI policy under which FDI is allowed under automatic route up to 49% and beyond 49% through Government route whenever it is likely to result in access to modern technology or for other reasons to be recorded.

So far, 41 FDI proposals / Joint Ventures have been approved in defence sector for manufacture of various defence equipment, both in public and private sector. Further, the Government has so far issued 430 licenses till December, 2018, for manufacturing of various licensable defence items.

FDI of Rs 1.16 crore has been received under the 3 National Industrial Classification (NIC) Codes of Defence sector as informed by DIPP.  In addition, 6 companies, for which FDI approval had been accorded, received Rs 237.44 crores in Defence and aerospace sector since April 2014. This information was given by Minister of State for Defence Dr Subhash Bhamre in a written reply to Ritabrata Banerjee in Rajya Sabha on February 11, 2019, according to a PIB release.

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