logo
Larsen & Toubro: L&T Enhances Collaboration with Defence Shipyards to Boost Naval Orders, ET Infra

Larsen & Toubro: L&T Enhances Collaboration with Defence Shipyards to Boost Naval Orders, ET Infra

Time of India11-06-2025
Advt
Advt
By ,
ETInfra
MUMBAI: Larsen & Toubro Ltd, India's biggest engineering and construction firm, will look at strengthening its 'working collaborations' with state-owned defence shipbuilders as well as direct wins to boost its naval shipbuilding business , a top official has said.L&T's defence order book is in excess of ₹3,000 crore and potentially growing.'For now, our focus has been on defence shipbuilding, and we do see a potential for growth, one in terms of the number of shipbuilding programmes which are on the anvil, and two, a few export opportunities and three, also working with the other yards. As you can see, the order books of most of the defence shipyards are quite swollen, and they are also looking at offloading some of the work,' Arun Ramchandani, Senior Vice President, Precision Engineering & Systems, L&T, told ET Infra in an interview on May 27.'In fact, we are working with Hindustan Shipyard Ltd for their fleet support ships; we are doing two of their fleet support ships out of the order of five which they got from the Indian Navy . We did four Anti-Submarine Warfare Shallow Watercrafts and Large Survey Vessel for Garden Reach Shipbuilders & Engineers Ltd (GRSE). That's another model which is evolving and which we want to take a step further that we look at working collaboratively with the other defence shipyards as well as look at winning business competitively like we did for the multipurpose vessels and the cadet training ships,' Ramchandani said.Does such working collaborations with defence yards include building the entire ship or just a part of the vessel for them?'It has been evolutionary,' says Ramchandani.'When we started, we were delivering the whole ship from our yard. There are two models, one where there is a lot of free material that comes from the prime contractor to us and for the fleet support ships, there are about 15 equipment which we are buying for all the ships and some of the stuff we get from Hindustan Shipyard while the critical yard materials we buy ourselves. So, that way the size of our order book also swells,' he stated.'With the number of programmes which are coming up on naval shipbuilding, the fleet expansion that the Indian Navy is doing and the requirement to deliver on time and to scale our capacities and business, both direct wins as well as working with defence shipyards seem to be the way forward,' Ramchandani added.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Explained: Donald Trump's landmark $1.35 trillion trade deal with EU before tariff deadline
Explained: Donald Trump's landmark $1.35 trillion trade deal with EU before tariff deadline

Hindustan Times

time3 hours ago

  • Hindustan Times

Explained: Donald Trump's landmark $1.35 trillion trade deal with EU before tariff deadline

In a significant breakthrough, President Donald Trump on Sunday announced that the United States and the European Union have reached a comprehensive trade deal, just days before a 30 per cent tariff on European imports was due to take effect. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal between the US and the EU.(REUTERS) After high-stakes negotiations in Scotland's Turnberry with European Commission President Ursula von der Leyen, the two leaders revealed a new trade framework aimed at averting a full-blown transatlantic trade war. The deal, according to CNN, hailed by both sides as 'powerful' and 'historic', centers around new tariffs, large-scale energy purchases, and significant investment commitments. Also read: Donald Trump turns up to play golf amid protests against his Scotland trip What does the US-EU deal include? Under the terms of the agreement, the EU will purchase $750 billion worth of US energy, marking a massive expansion in transatlantic energy cooperation. Additionally, the 27-member bloc has committed to investing $600 billion more into the US than its current levels, stated another CNBC report. The report added that in exchange, Trump has agreed to impose a 15 per cent tariff on most European imports to the US, down from the 30 per cent rate he previously announced. The deal is expected to significantly ease trade tensions between the long-time allies. A CNBC report quoted Donald Trump declaring that this was a 'very big deal, biggest of all' as he stood alongside von der Leyen. Meanwhile, the European Commission chief, speaking after the meeting, acknowledged the difficulty of the talks and said, 'It is a good deal, it is a huge deal, with tough negotiations.' Donald Trump-EU deal impact The agreement was finalized just before the August 1 deadline, after which the Trump administration had vowed to raise tariffs on most EU goods from 10 per cent to 30 per cent. Earlier in the day, US Commerce Secretary Howard Lutnick had reaffirmed that Washington would not give further extensions, calling the deadline 'firm', reported CNN. Had the talks collapsed, Brussels was prepared to launch a major counter-tariff package targeting a wide range of US exports and invoke its new Anti-Coercion Instrument, a legislative mechanism designed to push back against economic pressure. Also read: Trump says US will work with Thailand and Cambodia, adds both 'want to settle' A fractured trade relationship The US-EU trade relationship is among the world's largest, valued at nearly $1.97 trillion in 2024, including both goods and services. While the EU ran a goods trade surplus, it faced a deficit in services, resulting in an overall $58.7 billion surplus with the US. Trump repeatedly criticized the imbalance and used it to justify tougher trade terms. 'The US and EU have one of the largest trade deficits,' he had said, defending the imposition of tariffs as leverage. FAQs What is the latest trade deal Trump announced? Trump and EU President Ursula von der Leyen finalized a deal where the EU will buy $750 billion in US energy and invest $600 billion more into the country in exchange for lower tariffs. Why was this deal considered urgent? It came just days before Trump was set to increase tariffs on European imports from 10 per cent to 30 per cent on August 1. What was at stake in the US–EU trade balance? The EU had a $58 billion overall surplus with the US in 2023, mainly due to goods exports, prompting Trump to demand fairer trade terms. What other trade deals has the Trump administration secured? The administration has renegotiated NAFTA (now USMCA), reached agreements with Japan and South Korea, and imposed tariffs on China during its broader trade overhaul. What is the proposed new tariff structure? Instead of the planned 30 per cent hike, the new deal imposes a 15 per cent across-the-board tariff on most EU imports. What are the key risks or criticisms? Critics argue the deal may strain diplomatic ties, shift costs to consumers, and provoke retaliation from other trading partners not offered similar terms.

Boeing Defense Workers Reject Contract in New Labor Turmoil
Boeing Defense Workers Reject Contract in New Labor Turmoil

Mint

time4 hours ago

  • Mint

Boeing Defense Workers Reject Contract in New Labor Turmoil

(Bloomberg) -- Boeing Co. faces the risk of a strike at its St. Louis defense hub after union workers rejected a contract offer that would boost their wages by 20% over four years. The International Association of Machinists and Aerospace Workers Local 837, which represents 3,200 Boeing defense workers in Missouri and Illinois, voted overwhelmingly against the new terms Sunday. The Boeing proposal 'fell short of addressing the priorities and sacrifices' of the company's skilled workforce, the union said in a statement. 'Our members are standing together to demand a contract that respects their work and ensures a secure future.' While the present contract expires at 11:59 p.m. Central Time on Sunday, management still has a chance to win over rank-and-file members by sweetening its offer during a seven-day 'cooling off' period. If that's unsuccessful, IAM Local 837 workers will walk off the job and shut down manufacturing in Boeing's military aircraft hub. The aerospace manufacturer is seeking to avoid another labor standoff after a strike by a Seattle-based Machinists union crippled manufacturing at its commercial jet factories for more than two months last year. Boeing could not be immediately reached for comment. Any labor strife would be costly for Boeing's defense division, which hasn't earned an annual profit since 2022 and is in the middle of a turnaround. A strike would shut down assembly lines for Boeing's F-15 and F/A-18 fighter jets, T-7A trainer, MQ-25 drone refueler and other weapons systems. The labor uncertainty will be a focus for analysts when Boeing reports quarterly earnings on Tuesday. It's also a bellwether as GE Aerospace launches contract negotiations with a separate IAM local on Sunday. St. Louis workers last went on strike in 1996 and don't have a history of activism, unlike Boeing's unions in the Pacific Northwest, according to Scott Mikus, an analyst with Melius Research. Union members initially rejected management's offer during the last negotiation with Boeing in 2022, before accepting a three-year deal with a 14% general wage increase and cost-of-living adjustments. While Puget Sound labor leaders endorsed Boeing's initial offer last year, they were rebuffed by rank-and-file members embittered by an earlier 10-year contract that stripped away pensions and locked in low wage increases while inflation soared. The lengthy strike squeezed the company's working capital and spurred Boeing to sell equity worth almost $24 billion. --With assistance from Bill Haubert. (Updates with comments from labor union in third paragraph, attempt to reach Boeing in fifth paragraph.) More stories like this are available on

India eyes stealth edge with new submarines amid China's growing presence
India eyes stealth edge with new submarines amid China's growing presence

Business Standard

time5 hours ago

  • Business Standard

India eyes stealth edge with new submarines amid China's growing presence

Advanced Project 75(I) seen as urgent amid China's growing presence in Indian Ocean Satarupa Bhattacharjya Bhaswar Kumar New Delhi Listen to This Article The Indian Navy would get nine new advanced submarines in the coming years if the proposal is cleared by the Cabinet Committee on Security (CCS), according to a government source with knowledge of the matter. While the CCS will have the final say, the Navy, the source said, is keen to buy the advanced submarines with enhanced stealth capability under the Project 75 (India), or P75(I) programme. Six such submarines, estimated to cost between ₹90,000 crore and ₹1 trillion, would comprise the first purchase batch. Three additional submarines would be ordered a year after the main contract is signed, in

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store