
RRP Defence partners with French firm CYGR to set up drone manufacturing plant
Mumbai, Jul 19 (PTI) RRP Defence on Saturday announced that it has partnered with French firm CYGR to set up a drone manufacturing facility in India at an initial investment of around USD 50 million (around Rs 430 crore).
This partnership aims to deliver advanced drone systems designed for tactical, surveillance, and industrial use, leveraging French-American technology and Indian manufacturing capability, the RRP group company said in a statement.
The two companies are expected to invest USD 50 million initially in the facility, which will be scaled up to USD 100 million later, RRP Defence Chairman Rajendra Chodankar said.
The facility, to be located in Navi Mumbai, will support the production of next-generation drones, including nano drones, ISR drones, and hand-launched fixed-wing drones.
The focus would be on defence, homeland security, and industrial drone solutions, it said, adding that the plant would contribute to India's high-skill employment and aerospace exports.
'By combining our local manufacturing strength and field understanding with CYGR's world-class drone technologies, we are building systems that meet India's unique operational needs," Chodankar said.
'Through this collaboration with RRP Defence Ltd, we are not only transferring technology, but also co-developing future-ready solutions that support India's defence and surveillance landscape," CYGR France Director George El Aily said. PTI IAS BAL BAL
view comments
First Published:
July 19, 2025, 15:00 IST
Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Indian Express
28 minutes ago
- Indian Express
Indian crypto exchange CoinDCX says it lost over $44 million following a hack
CoinDCX, a leading Indian cryptocurrency exchange, confirmed on Saturday, July 19, that a security breach has resulted in the loss of $44.2 million (Rs 380 crore approx.) The Mumbai-based firm has disclosed that hackers compromised and drained all the funds from one of its internal operational accounts that is used for liquidity provisioning, which helps minimise slippage and ensure smoother trading. Ethical hacker ZachXBT was the first to flag the breach, and said that he uncovered the incident 17 hours after it happened. CoinDCX has emphasised that the wallets used to store customer assets were not impacted by the hack. INR withdrawals and other trading activity remain operational. The centralised crypto exchange initially paused its Web3 mode feature as a precautionary measure. A few hours later, it restored the in-app feature that gives users access to over 50,000 DeFi (decentralised finance) tokens. 'The incident was quickly contained by isolating the affected operational account. Since our operational accounts are segregated from customer wallets, the exposure is only limited to this specific account and is being fully absorbed by us – from our own treasury reserves,' Sumit Gupta, Co-founder and CEO, CoinDCX said on X 'Our internal security and operations teams have been working through the day along with leading cybersecurity partners to investigate the matter, patch any vulnerabilities and trace the movement of funds,' he added. CoinDCX also assured that its reserves are sufficient to fully cover the losses from the hack. 'This won't cause any loss to any of our customers and CoinDCX will be bearing the full amount from our treasury reserves, which is sufficiently healthy to cover up for this amount,' Gupta said. Exactly one year ago to the day, hackers breached another Indian crypto exchange, WazirX, and made away with over $230 million in crypto assets. The crypto industry's vulnerability to such incidents remains a pressing concern as it could undermine investor confidence. It could also fuel further scepticism of cryptocurrency by regulators in countries like India, where the sector is still under evaluation. The CoinDCX hack adds to what is already shaping up to be the worst year-to-date on record for crypto thefts. Hackers have stolen more than $2 billion in crypto during the first half of 2025, according to new data from crypto analysis firm Chainalysis. 'I understand incidents like this can be unsettling – even when customer assets are unaffected. That's why I am sharing this incident with you with full transparency,' Gupta said on X. On what to do next, he said that CoinDCX will be collaborating with its exchange partner to block and recover assets. It will also be launching a bug bounty programme soon.


Indian Express
30 minutes ago
- Indian Express
App-based taxi drivers suspend strike in Mumbai and Pune; fare regulation still pending
Drivers of app-based taxis in Maharashtra temporarily stopped their four-day-old strike on Friday, citing financial pressure and the need to take care of their families. But they still insist on their demand to implement government-notified fare rates across all aggregator platforms. Drivers associated with platforms such as Ola and Uber have been getting between Rs 8 and Rs 12 per km, which they argue is unsustainable. They demanded that the fares set by the Regional Transport Authority (RTO) be made mandatory for all aggregator services run through mobile apps. The existing RTO-notified fare for taxis is Rs 32 per km for cabs. The Maharashtra Kamgar Sabha, the union that organised the protest, said that drivers will charge this rate of Rs 32 per km, but not the app-based fare. They will look at fare calculations given on a website named Only Meter. 'Drivers will report the app-displayed distance on the Only Meter site and charge passengers as per the fare indicated there, rather than applying the app-based fare estimate,' the union said in a statement. The union said that this system was already in use in Pune and Mumbai. Although there might be an initial confusion for people travelling by bus, the union said, it will ultimately help passengers and drivers alike in the long term. Passengers are also reportedly in favour of the new system, the union added. The protest, which started with a sit-in at Azad Maidan, got a mixed response. But it picked up pace after the death of a driver from Nalasopara in an apparent suicide, reportedly under financial stress as he was unable to pay his car loan EMIs. The incident attracted more drivers to the protest site in a sign of solidarity. To resolve the issues, the union and RTO officials held a meeting on Friday, where drivers once again pleaded for the introduction of fixed fares. The RTO, however, has requested time until July 22 to respond to the demands. Dr Keshav Kshirsagar, president of the Maharashtra Kamgar Sabha, said the strike has not been withdrawn. 'The online cab and rickshaw strike in Mumbai, Nagpur, and Pune cities has been temporarily suspended. The government has been given time till Tuesday, and if the demands are not accepted, the strike will resume from Wednesday. Now the fare will be charged at the government rate. Passengers and drivers can agree on the fare at the government meter rate by visiting the website The Indian Federation of App-Based Transport Workers' (IFAT) has also instructed the drivers to return to work. 'The strike is still going on. We have just instructed our drivers to accept rides on the applications and politely inform the rider that government meter-based rates will be applicable. The ride will be cancelled (on the app) and the customer will be provided good service,' said Prashant Sawardekar, president of the IFAT. 'There have been unfortunate cases of suicides of drivers and some elements have blocked cabs plying on roads and broken them down. This is affecting the livelihood of people and we thought we should not do it,' he added. Sawardekar further said the leaders had met BJP state chief Ravindra Chavan to resolve the issues. 'If our demands are not met, we will demand a meeting with the chief minister next,' he said.


Time of India
30 minutes ago
- Time of India
Expect double-digit growth in FY26, rural replacement market to continue to drive sales: CEAT
Tyre maker CEAT Ltd expects to maintain a double-digit growth this fiscal with domestic replacement segment, specially from rural markets, to drive sales while direct supplies to automobile makers are likely to be muted, according to company MD & CEO Arnab Banerjee . The company is also waiting and watching the tariff situation in the US, a big growth market but not a significant one right now for it, to decide its future course of expansion in the country, he told PTI. "We have started with a double-digit growth in Q1, which we have maintained last year also. We expect to maintain or accelerate that over the next two to three quarters," he said when asked for the outlook of the remainder of the fiscal. In the first quarter ended June 30, 2025 the company's revenue stood at Rs 3,529.4 crore, up 10.5 per cent year-on-year. As for the growth drivers, Banerjee said the two-wheeler replacement segment in the rural market is expected to do well across segments. "On the replacement side, rural demand should be good because monsoons have been good. So we expect rural demand to be robust. Then adoption of electric vehicles specially scooters etc is going strong," he said. Banerjee further said, "There will be some demand softness in the passenger cars side, which is dependent on larger towns but we are seeing a big shift there also from smaller size tyres to larger size tyres. Value growth could be there, margin growth could be there. In terms of the number of tyres, growth may not be that robust." Truck and bus radial tyres in the commercial vehicles segment will continue "to do decent", he noted. However, on the direct supplies to automakers, he said, "OEM growth in two-wheelers has slowed down and passenger vehicle is low single digit. It is going to continue like that unless there are some big launches which create excitement in the market." Medium and heavy commercial vehicles (M&HCV) could also slow down once the pre-buying before AC cabin regulation comes in (from October 1 this year), he said, adding "it may slow down a little bit. So, on the OEM side, slowdown is expected". When asked about the impact of Trump tariff uncertainty, Banerjee said, "The impact on our international business is low because our stakes are low in the US. Materially it is not significant but it is a big growth market for us." The US market accounts for about 3 per cent of the company's total sales. "We are waiting and watching...," he said, adding CEAT would wait for the tariff situation to settle down to plan its future growth strategy in the US. Asked if the company would look at local manufacturing in the US, he said, "We have not thought that far as yet but we are just waiting for the tariff situation (to settle down) and how the pricing will move in the US." Noting that there will be inflation on imported tyres, Banerjee said the US is hugely dependent on imported tyre, not only from India but from various countries. About the European market, he said Q1 was not good as distributors and channels were not stocking due to global geopolitical uncertainty. "However, for Q2 we have good order visibility, more of a seasonal offtake...Q2 order base is very good. Seasonal offtake is very good and if we execute it well, it will be good and from there we will see what happens in Q3 and Q4," Banerjee noted.