India, US ink agreement for defence equipment supply
Business Standard|August 24, 2024
The US and the Indian defence ministry have entered into an agreement to provide each other with reciprocal priority support for goods and services that promote national defence.
AJAI SHUKLA
India, US ink agreement for defence equipment supply

The agreement, called Security of Supplies Arrangement (SOSA), marked the start of a four-day visit to the US by Defence Minister Rajnath Singh.

The two countries also signed a "Memorandum of Agreement regarding the Assignment of Liaison Officers," which will facilitate the posting of one military officer from each country with the military of the other. In the case of India, one naval officer will be placed with the US headquarters in Bahrain.

Interacting with the Indian diaspora after landing in Washington on Thursday, Rajnath described India and the US as natural allies.

"On August 22, 2024, the US Department of Defense (Pentagon) and the Ministry of Defence (MOD) of the Government of India entered into a bilateral, non-binding Security of Supply Arrangement (SOSA)," said the Pentagon on Friday.

SOSA will enable both countries to acquire from one another the industrial resources they need to resolve unanticipated supply chain disruptions to meet national security needs.

Bu hikaye Business Standard dergisinin August 24, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Business Standard dergisinin August 24, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

BUSINESS STANDARD DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
Business Standard

Used-truck prices spike up to 21%

With the government reviewing its vehicle scrappage policy, the price of used trucks has surged by up to 21 per cent in certain segments. The rise in used-market prices is also driven by demand from the government's infrastructure projects, say industry sources.

time-read
1 min  |
October 08, 2024
Business Standard

RAJASTHAN: Traders flag land, transportation woes ahead of summit

The Rajasthan government is gearing up for a three-day investment summit in December.

time-read
1 min  |
October 08, 2024
Business Standard

Chevron to sell stake worth $6.5bn to Canadian oil firm

Chevron Corp agreed to sell stakes in oil sands and shale assets in Western Canada to Canadian Natural Resources for $6.5 billion.

time-read
1 min  |
October 08, 2024
Surging Chinese stocks may advance another 20%, says Goldman Sachs
Business Standard

Surging Chinese stocks may advance another 20%, says Goldman Sachs

Goldman Sachs Group upgraded its call on Chinese stocks to overweight, as it joined a camp of optimists that are touting the positive impact of Beijing's stimulus blitz.

time-read
1 min  |
October 08, 2024
Ola EVs on a bumpy ride as social media takes stock
Business Standard

Ola EVs on a bumpy ride as social media takes stock

Comedian Kunal Kamra and Ola's Aggarwal engaged in a verbal duel on X

time-read
3 dak  |
October 08, 2024
India's manufacturing under-performance: A new clue from 'multi-plants'
Business Standard

India's manufacturing under-performance: A new clue from 'multi-plants'

Perhaps the biggest failure of India's development and an equally big puzzle is why India has under-performed in labour-intensive manufacturing whether measured in terms of output, exports or employment.

time-read
4 dak  |
October 08, 2024
Orders, input costs to keep cap goods on rails
Business Standard

Orders, input costs to keep cap goods on rails

Brokerages predict 12-22% revenue growth, 13-18% rise in Ebitda

time-read
2 dak  |
October 08, 2024
Equity rally fuels fastest quarterly growth in MF assets in five years
Business Standard

Equity rally fuels fastest quarterly growth in MF assets in five years

Average AUM in Q2FY25 rises 12.3% sequentially to ₹66.2 trillion

time-read
2 dak  |
October 08, 2024
Hero Motors withdraws papers for ₹900 cr IPO
Business Standard

Hero Motors withdraws papers for ₹900 cr IPO

Hero Motors, the auto components firm of the Hero Motors Company (HMC) Group, has withdrawn its documents for an initial public offering (IPO) worth 900 crore, an update Securities and with the Exchange Board of India (Sebi) showed on Monday.

time-read
1 min  |
October 08, 2024
FPIs squeeze mkts for a sixth day
Business Standard

FPIs squeeze mkts for a sixth day

Benchmarks S&P BSE Sensex and National Stock Exchange Nifty declined for the sixth consecutive session on Monday amid sustained selling by foreign portfolio investors (FPIs).

time-read
2 dak  |
October 08, 2024