'No Compromises, Only Benefits': Piyush Goyal Explains 'Historic' India-UK Trade Deal
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India.com
9 minutes ago
- India.com
Indian Army makes big defence deal, will buy 212 tank transporter trailers that will enhance military operational capability
(Image: ANI) New Delhi: The Indian Army on Friday, 1 August, signed an agreement of Rs 223.95 crore with Axiscades Aerospace and Technologies Private Limited. Under this, 212 state-of-the-art 50-tonne tank transporter trailers will be purchased. This deal is an important step towards increasing the operational mobility capability of the army and supporting the Atmanirbhar Bharat Abhiyan. This agreement was signed under the Indian-IDDM category. This agreement gives priority to indigenous design, development and manufacturing. This will strengthen self-reliance in the defence sector. These trailers are equipped with hydraulic/pneumatic ramps and steerable and liftable axles. These will make it easier to transport tanks and armoured vehicles to difficult areas. These trailers will add to the operational strength of the army and greatly enhance the logistics and operational capabilities of the army, and will act as a force multiplier. This deal will boost the indigenous defence manufacturing sector and will also create permanent employment opportunities. This is a sign of strong preparation for future challenges. Earlier, the Indian Army conducted the high-tech Divya Drishti exercise in Sikkim on 28 July. The exercise, conducted in the high-altitude areas of East Sikkim, tested new technologies designed to improve battlefield awareness, real-time surveillance and quick decision-making. The soldiers of the Tri Shakti Corps used a combination of ground-based systems and aerial platforms, including UAVs and drones, to execute real scenarios. Its special feature was the use of AI sensors. These sensors were connected to advanced communication systems. This arrangement ensured smooth and secure data flow between the command centres and helped in increasing situational awareness as well as making accurate decisions, i.e. a strong sensor-to-shooter link was created.
Time of India
37 minutes ago
- Time of India
Tariff resilience: India's domestic demand shields economy from tariff shocks, says BoB chief economist
India's limited dependence on exports and strong domestic demand will help it weather the impact of recently imposed US tariffs, said Madan Sabnavis, Chief Economist at Bank of Baroda . Speaking at a webinar, Sabnavis argued that India's non-export-oriented growth model provides resilience amid rising global protectionism. 'Since we are not an export-oriented economy, it is becoming advantageous for us because we are more dependent on domestic consumption,' he said, quoted ANI. The comments come days after US President Donald Trump announced a 25% tariff on Indian goods along with an unspecified penalty, despite earlier expectations of a bilateral trade deal. The move is part of Trump's broader tariff push under his April 2, 2025 executive order, which imposes reciprocal tariffs ranging from 10% to 50% across trade partners. Bank of Baroda has projected GDP growth of 6.4% to 6.6% for FY26, a forecast that already factors in potential export disruptions. According to BoB estimates, a 10% drop in exports would shave about 0.2 percentage points off GDP. India's exports account for 21% of GDP, with services contributing nearly half of that — a composition that makes the country less vulnerable to goods tariffs. 'India's significant reliance on service exports cushions the economy in this volatile tariff environment,' Sabnavis added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Brain tumor has left my son feeling miserable, please help! Donate For Health Donate Now Undo BoB expects India's current account deficit to remain below 1% of GDP despite the tariff shock. While about 10% of the Wholesale Price Index (WPI) basket could see imported inflation, the Consumer Price Index (CPI) is not expected to rise in the near term. Trade data presented during the webinar showed that India's export exposure to the US is relatively high at 19.8%, while imports from the US account for just 6.3%. Sectors such as electronics, marine products, readymade garments, gems and jewellery, chemicals and poultry are among the most vulnerable. BoB analysts noted that clarity is awaited on potential exemptions, which could mitigate some of the impact. 'Some industries may face higher input costs, which could impact profit margins,' the bank said in its presentation. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Hindustan Times
39 minutes ago
- Hindustan Times
Amid tariff war, Modi calls for embracing swadeshi
Amid the ongoing tariff war, Prime Minister Narendra Modi on Saturday called on citizens to adopt the spirit of 'swadeshi' and support locally-made products, stressing that true service to the nation lies in promoting indigenous goods, especially amid 'global economic uncertainties'. Prime Minister Narendra Modi and chief minister Yogi Adityanath upon the former's arrival to address a public meeting, in Varanasi on Saturday. (PTI PHOTO) He also invoked Lord Shiva's 'Rudra roop' (fierce form) to describe India's resolute action against terrorism, saying Operation Sindoor showcased the country's strength to the world and delivered a clear message that anyone who dares attack India will not be spared, not even in 'Pataal Lok'. He dedicated the success of the operation 'at the feet of Mahadev'. He was addressing a public meeting in Banauli village of Sewapuri area of his parliamentary constituency Varanasi where he laid the foundation stone and inaugurated development works worth around ₹2,200 crore. He also distributed the 20th installment of the PM KISAN Samman Nidhi worth ₹20,500 crore to over 9.70 crore eligible farmers nationwide. 'India is going to become the third largest economy in the world. It has to be vigilant about its economic interests. Welfare of farmers and small industries is paramount and the government is making every possible effort in this direction,' he asserted. 'Varanasi is a city of intellectuals', Modi said, adding, 'Today when we are discussing economic progress, I want to draw your attention to the prevailing global conditions. The global economy is currently facing multiple uncertainties and an atmosphere of instability and is surrounded by many apprehensions.' Emphasising that farmers, small industries, and employment for youth are the top-most priorities for the government, Modi said, 'The government is doing everything possible in this direction. But as citizens, we too have responsibilities.' Calling for a national movement to support local products, the prime minister said, 'This is not just about Modi saying it, every Indian should say this -- if we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation's interest and awaken the spirit of swadeshi among the people.' He also urged people to be conscious consumers, saying, 'Whatever we buy, we should ask ourselves -- has an Indian toiled to make this? If it has been made by the sweat of our people, with their skills, that product is swadeshi for us. We must adopt the mantra of 'Vocal for Local'.' Making a special appeal to traders and shopkeepers, the prime minister said, 'At a time when the world is going through uncertainty, let us take a pledge to sell only swadeshi goods from our shops and markets. Promoting made in India goods will be the truest service to the country.' With the festival and wedding seasons approaching, the prime minister encouraged people to ensure that all new purchases are made in India. He recalled how many citizens changed their wedding plans from abroad to India after his earlier appeal. 'The feeling of swadeshi in every action will define our future. This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India,' Modi said. First visit to Kashi after Op Sindoor The PM also said, 'I have come to Kashi for the first time after Operation Sindoor.' The prime minister accused the Congress of repeatedly insulting the valour of the armed forces and even terming 'Operation Sindoor' a 'tamasha' (spectacle). 'Can 'Sindoor' ever be a joke? They dared to insult the sacred mark of our sisters and the valour of our soldiers,' he said. 'My heart was filled with sorrow for the 26 people who lost their lives in the Pahalgam terror attack ... My promise to avenge 'Sindoor' of our daughters was fulfilled with blessings of Mahadev,' he said, adding, 'I dedicate the success of the operation at the feet of Mahadev.' The prime minister stressed that the 'unity of 140 crore countrymen' became the 'strength of Operation Sindoor'. 'Shiva means welfare, but when terrorism and injustice raise their ugly head, Mahadev takes his 'Rudra roop'. During Operation Sindoor, the world witnessed this very form of India,' the prime minister said, warning that 'whoever attacks India will not survive, even in Pataal Lok (netherworld)'. Taking a dig at the Opposition, Modi alleged that while the country was celebrating the success of Operation Sindoor, 'some people in our own country were troubled by it'. 'Congress and its allies are unable to digest the fact that India demolished terrorist hideouts inside Pakistan,' he said. 'Aren't you proud of Operation Sindoor? Aren't you proud that India destroyed terror bases (in Pakistan and PoK)?' the prime minister asked the gathering. He added, 'You all must have seen the visuals of how our drones and missiles precisely struck and reduced terrorist headquarters to rubble. 'Several air bases in Pakistan are still in ICU. While Pakistan's anguish is understandable, what's shocking is that Congress and Samajwadi Party leaders are also unable to cope with it.' Modi also attacked the Samajwadi Party (SP) for questioning the timing of Operation Mahadev, in which three Pahalgam attack terrorists were killed. 'One of their leaders asked in Parliament -- 'why were the attackers of Pahalgam killed now'. Should I call and ask Samajwadi leaders whether to strike now or later? Should we wait and let the terrorists escape?' Modi asked. 'These are the same people who, during their rule in Uttar Pradesh, gave clean chits to terrorists and withdrew cases against those involved in bomb blasts,' Modi claimed, adding that such parties are now disturbed because terrorists are being eliminated. 'This is 'Naya Bharat' (New India), which worships Lord Shiva but turns Kaal Bhairav against its enemies when needed,' the prime minister said. Modi stressed that Operation Sindoor has demonstrated India's indigenous defence capabilities to the world. 'The power of our locally developed missiles, drones and air defence systems was on full display (during Operation Sindoor). Our BrahMos missile instilled such fear in the enemy that people in Pakistan can't sleep peacefully even in their dreams.' Expressing pride as an MP from Uttar Pradesh, the PM announced that BrahMos missiles will soon be manufactured in Lucknow. The BrahMos unit in Lucknow was inaugurated on May 11. 'Weapons made in the UP Defence Corridor will become the backbone of India's military strength,' he said, asking the crowd if they felt proud of India's self-reliant defence capabilities. Issuing a stern warning, he declared, 'If Pakistan dares to repeat its mistakes, missiles made in UP will wipe out terrorists.' Launched on May 7 in response to the April 22 Pahalgam terror attack that claimed 26 lives, Operation Sindoor showcased calibrated, tri-services action targeting terror hideouts in Pakistan.
