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The Indian government has been calling for innovators to leverage technology to build solutions for the defence sector. Earlier in February, at an industry event, Defence Minister Rajnath Singh revealed that the government is
aiming to bring down defence imports by at least $2 billion by 2022.
Image Credit: Torus Robotics
While pursuing their mechatronics engineering degree, SRM University alumni
M. Vignesh, Vibhakar Senthil Kumar, and K.Abbhi Vignesh set out to build solutions for the Indian defence sector.
In 2019, the trio launched Torus Robotics in Chennai to help the Indian Armed forces with
modular Unmanned Ground Vehicles (UGV) that could cater to diverse mission requirements.
The IAF stall at Aero India 2021. Photo: MURALI KUMAR K.
With a turnover of more than Rs.3,500 crore, defence public sector enterprise (DPSE) BEML Limited (formerly Bharat Earth Movers Limited) plays a pivotal role with top-draw services in core sectors like defence, railways, power, mining, and infrastructure and is India’s leading mining and construction equipment manufacturer, offering a comprehensive range of mining machinery. Even while continuing to ramp up production and sales of its hydraulic excavators, bulldozers and dump trucks, the DPSE has extended its gaze to the aerospace sector over the past dozen years in a bid to take advantage of the global and domestic opportunities in the fast-expanding aerospace market.
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New Delhi: The Narendra Modi government is hopeful of privatising national carrier Air India and oil marketing firm Bharat Petroleum Corporation Limited (BPCL) by the first half of 2021-22.
However, the initial public offering (IPO) of India’s largest insurance company Life Insurance Corporation of India (LIC) is likely to take place only after October 2021 as the government prepares the groundwork for a successful listing, said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management in the Finance Ministry.
In an interview with ThePrint a day after Finance Minister Nirmala Sitharaman announced the government’s intent to privatise majority of the state-owned companies, Pandey said the privatisation policy will be implemented over the next few years.