Rs 5000000000000 market, Anil Ambani makes historic move, plan is to...
Anil Ambani's Reliance Group's Reliance Infrastructure is going to do a big job in the defense sector and is focusing on modernizing aircraft. The company is expected to make good profits in the next few years and is on its way to becoming the first private company in this sector.
A company source said that they have completed a project with HAL in collaboration with US company Genesis. In this project, they have improved 55 Dornier-228 aircraft.
Earlier the company got the contract of upgrading 37 aircraft. After doing good work, the company got an order for 18 more aircraft. According to sources, this entire project of upgrading Dornier was worth Rs 350 crore.
The upgraded Dornier aircraft are deployed with the Indian Air Force, Indian Navy and Indian Coast Guard. Military aircraft and helicopters last for about 30-40 years, therefore, it is necessary to upgrade them from time to time. Especially it is necessary to replace their avionics, mission systems and security equipment.
The market for upgrading military aircraft and helicopters worldwide is more than Rs 5,00,000 crore every year and it is estimated that this market will reach Rs 7,00,000 crore in the next seven years.
The number of old aircraft in India is very high. Therefore, there are many opportunities in this field here. The Indian Army is also focusing on modernizing its old aircraft.
Reliance Infrastructure now wants to further increase its capacity to upgrade aircraft and helicopters. For this, the company is working closely with companies around the world. Apart from upgrading Dornier, the company is also working with France's Thales in the Performance-Based Logistics (PBL) program for Rafale fighter jets in India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
23 minutes ago
- Deccan Herald
Auto fares go higher in Bengaluru, drivers refuse to calibrate meters
The base fare has increased from Rs 30 for the first two kilometres to Rs 36, with the per-kilometre rate rising from Rs 16 to Rs 18.
Time of India
an hour ago
- Time of India
Deadline for property tax settlement scheme extended to Aug 15
Ludhiana: The local bodies department has extended the deadline for its one-time property tax settlement scheme to August 15, offering relief to defaulters who missed the original cut-off date of July 31. Tired of too many ads? go ad free now The extension comes after a surge in last-minute payments at civic body's suvidha centres across Ludhiana. Under the scheme, launched on May 15, property owners with pending dues from 2013-14 onwards were given a chance to clear their backlog without paying any interest or penalty. Officials said that initial response was slow, but picked up momentum in July. So far, the department has collected Rs 15 crore under the scheme, contributing to Rs 40 crore property tax revenue for the current fiscal year. As per the original policy, dues paid between August 1 and October 31 would attract a 50% waiver on interest and penalties. Now that the deadline has been extended, full waiver benefits will continue till August 15, giving taxpayers a few more days to settle their accounts. MC superintendent Vivek Verma confirmed the extension and urged residents to take advantage of the scheme. "This is a golden opportunity for defaulters to clear their dues without additional financial burden," he said. While the extension benefits taxpayers, it has sparked concern among MC employees, who have been working overtime, including weekends and public holidays, to manage the rush. With Raksha Bandhan falling on Saturday, staff members are considering requesting the MC commissioner to keep suvidha centres closed on holidays. One employee noted that the pressure would continue even after the scheme ended, as the civic body would shift focus to collecting current dues. Taxpayers are eligible for a 10% rebate on current dues until September 30, which means that offices may remain open on weekends for months to come. The department has appealed to residents to cooperate and complete their payments early to avoid last-minute congestion. MSID:: 123043253 413 |
Time of India
an hour ago
- Time of India
Street vendor push: Loan hike, credit cards okayed
NEW DELHI: Govt has approved higher subsidised loans for street vendors under the second phase of PM SVANidhi scheme and expanded its coverage by bringing around 50 lakh more beneficiaries under its ambit. Tired of too many ads? go ad free now TOI has learnt that the proposal to enable around 11 beneficiaries who have paid the first two tranches of subsidised loans to get UPI-linked credit cards with a limit of Rs 30,000 was also approved on Thursday. Sources said that under the revamped scheme, the beneficiaries will get subsidised loans of Rs 15,000 and Rs 25,000 in the first two terms, up from the earlier disbursement of Rs 10,000 and Rs 20,000 respectively. The amount for the third-term loan remains unchanged at Rs 50,000. Beneficiaries availing loans are eligible to get an interest subsidy of 7%. Officials said the credit card facility will help street vendors who by now have a better credit rating to have access to more rolling capital for their business and this will create more financial confidence in them. The norms of repayment will be laid down by the banks. As per the housing and urban affairs ministry, so far a little over 68 lakh street vendors have availed the first-term loan of Rs 10,000 and nearly 38.4 lakh have repaid.
