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Time of India
an hour ago
- Time of India
Philippines eyes buying more defence equipment from India
. NEW DELHI: As the Indian govt prepares to host Philippines President Ferdinand Marcos Jr, Manila has expressed interest in purchasing more defence equipment from India. Defence, security and maritime cooperation are among the key pillars of the relationship and will top the agenda of Marcos' bilateral engagement with Prime Minister Narendra Modi on Tuesday, along with trade ties. Ahead of the president's visit, the chief of Armed Forces of the Philippines (AFP), Romeo Brawner, said the Philippines is looking to purchase more weapon systems from India, citing the quality and affordability of Indian defence equipment. Talking about the ongoing delivery of BrahMos cruise missiles to Manila, Brawner also said two sets of the India-Russia jointly developed missile systems will arrive in the Philippines in the next few years. The Philippines' maritime dispute in the South China Sea (SCS), or what Manila calls the West Philippine Sea, has seen it scaling up defence cooperation with countries like India and Japan to blunt Chinese aggression and ensure peace and stability in the contested waters. India will also join the Philippines this week for a joint patrol in the South China Sea. In the middle of its own border tensions with China, India in 2023 joined Manila in explicitly asking China to abide by a 2016 arbitral tribunal award that refuted Beijing's expansive claims over SCS waters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Modi and Marcos are also expected to discuss India's offer for concessional Line of Credit to meet Philippines' defence requirements, acquisition of naval assets, and expansion of training and joint exercises on maritime security. According to Manila, six agreements in a range of areas like science and technology, law and culture are expected to be signed. The Modi-Marcos meeting, however, takes place in the middle of efforts by both India and China to rebuild their relationship and it will be interesting to see how much play the South China Sea issue can get in the meeting. During Marcos' recent visit to the US, President Donald Trump reportedly told him he wouldn't mind if Manila got along with China. The two countries will also discuss efforts to enhance trade ties, as they both look to conclude a bilateral trade deal with the US to avoid getting caught in the cross hairs of Trump's trade war. While the US president has announced 25% tariffs on imports from India, he has slapped Manila with a 19% levy. Bilateral trade crossed $3 billion for the first time in 2022-2023 and the two sides have agreed to commence negotiations for a bilateral Preferential Trade Agreement. According to the ministry of external affairs (MEA), development cooperation is another crucial aspect of bilateral relationship. "India is implementing six Quick Impact Projects (QIPs) in the areas of agriculture, disaster risk reduction & management, health-care and livelihood support, in the Philippines, under an MoU on Indian Grant Assistance for the implementation of QIPs, signed on Feb 7, 2023," said an official.
Time of India
3 hours ago
- Time of India
Cryptocurrency Live News & Updates : Base Surpasses Solana in Daily Token Launches
03 Aug 2025 | 11:40:12 PM IST Base has overtaken Solana in daily token launches, fueled by Zora's Creator Coins and Coinbase's Base App rebranding, which has attracted nearly 3 million traders and $470M in volume. In a significant shift in the cryptocurrency landscape, Base, an Ethereum Layer 2 network backed by Coinbase, has surpassed Solana in daily token issuances, largely due to the rise of Zora's Creator Coins. The Base App's rebranding has driven user growth, resulting in over 1.6 million Creator Coins minted and nearly 3 million unique traders engaging with Zora. Meanwhile, the crypto market faced turbulence as Bitcoin stumbled, and Coinbase missed expectations, amidst growing momentum for stablecoin regulation. Additionally, a major revelation from Arkham highlighted a previously unreported Bitcoin hack from 2020, marking it as the largest crypto theft in history, with 127,000 BTC stolen from the Chinese mining pool Lubian. This incident raises concerns about operational security in the crypto space. As the market grapples with these developments, attention turns to cryptocurrencies like Pi, Cardano, and Flare, which are under scrutiny due to recent price movements and upcoming events. Overall, the dynamic interplay of innovation, regulation, and security continues to shape the evolving narrative of the cryptocurrency market. Show more
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Business Standard
3 hours ago
- Business Standard
VinFast lines up big India plans; TN plant to start production on August 4
From Shimla in the north to Kochi in the south, a wave of 'curiosity' seems to be driving footfalls to VinFast India's dealership doors. As the Vietnamese giant gears up to start production at its Thoothukudi unit in Tamil Nadu from Monday, dealers said its premium electric SUVs — VF6 and VF7 — have seen interest from all over the country. Amid the media attention over its rival Tesla, industry experts said that VinFast is one of the most calculated entries by a foreign automobile company in India during the last six years. It is after South Korean major Kia and Chinese state-owned carmaker MG Motor's entry in 2019. However, what makes VinFast's debut special is its line-up of retail outlets panning across the country, in addition to its foray into charging infrastructure through subsidiary VinGreen. 'In Himachal Pradesh, curiosity over the products and their making is bringing us a lot of queries,' said Rajinder Vashisht, managing director (MD) of Devbhoomi Group, who is planning to come up with three outlets in the state. 'We are getting non-stop queries about the car, its performance, and mileage. VinFast is a trusted brand, and we are also planning to come up with charging stations across 12 districts,' Vashisht told Business Standard. Devbhoomi is already the biggest dealer of Hyundai Motor in Himachal Pradesh and also handles Skoda. The Thoothukudi plant is the first dedicated electric vehicle (EV) manufacturing unit by a foreign company in India. Though the pure-play EV player is yet to divulge any numbers, the company may set up around 1,000–1,500 charging stations in its initial phase. On July 8, the company had a meeting with all its dealers in Gurugram, and inauguration of retail outlets has already been happening in various cities. The cars are expected to be up for sale from the middle of August. Down south in Kochi, people's queries are more about the pricing. 'We are yet to inaugurate the showroom and started display only two weeks back. Still, we got more than 1,500 queries,' said Jimmy Jose, part of the EVM Group that is opening outlets in Kochi, Thiruvananthapuram, and Kozhikode. This is in addition to around 100 charging stations. 'We are a price-conscious market, and hence, it is the most critical part. We expect them to be competitively price, as the Indian market is seeing an EV boom. It is a serious player creating an entire ecosystem,' Jose added. VinFast India aims to launch 35 dealerships by year-end, across more than 27 cities. Besides Kia Motors and MG Motor, other major entries into the Indian market in recent times are Chinese major BYD in 2021, Tesla in 2025, and Datsun in 2013 (exited in 2022), among others. When Kia launched in India (backed by Hyundai), it had more than 150 outlets. Similarly, MG Motor also had more than 60 outlets. 'For any company looking into India's mass market, 35 is an average number. All its (VinFast's) dealers are big. Whether it will have enough products and at competitive prices is a question that can be seen with time,' said C S Vigneshwar, president of the Federation of Automobile Dealers Associations (Fada). The current interest of global players is similar to the wave in the early 2000s, when companies like Renault (France), Nissan (Japan), and German majors Audi and Porsche entered the Indian retail race almost at the same time, said an industry expert. On Saturday, Pham Sanh Chau, chief executive officer (CEO) of VinFast Asia, inaugurated an outlet promoted by Maansarovar Motors in Chennai, its largest showroom in India. 'We aim to redefine the EV ownership journey — combining sustainability, technology, and world-class service. This marks not just a retail milestone, but a meaningful step towards co-creating a greener, smarter, and future-ready India,' Chau said. In Andhra Pradesh, too, customer interest is rising with each passing day. 'We are getting the majority of queries from youngsters. They are attracted because of the design and aggressive digital media marketing,' said Bhagat Singh of Sri Sri Automobility, which is planning to come up with two outlets in Vijayawada and Visakhapatnam. 'People are awaiting the pricing announcement now,' he added. Customers can also book their preferred VinFast SUV through the company's official website, for ₹1,000. As part of its India market entry, the company has formed strategic partnerships with RoadGrid, myTVS, and Global Assure to establish a nationwide network for charging and after-sales services.
