LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

HAL strongly bats for FGFA project with Russia

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Oct 23, 2017
08:19 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

State-run aerospace behemoth Hindustan Aeronautics Ltd (HAL) today strongly pitched for going ahead with the fifth-generation fighter jet project with Russia, though the Indian Air Force is understood to have reservations over it.

HAL Chairman and Managing Director T Suvarna Raju said the multi-billion dollar co-development project with Russia will be an opportunity as no country has ever offered such critical technology to India.

"We are still hopeful. It is an opportunity for the industry as well as for the country. This is an opportunity for us to go in for this kind of (high) technology which has not been offered to us by any other country (except Russia)," he said.

Asked about IAF's reservations about the project, Raju did not give a direct reply and insisted that it would help India's aerospace sector to a great extent.

"The impact of the project will be very positive. FGFA (Fifth Generation Fighter Aircraft) is my dream, I am hopeful about it," Raju told reporters on the sidelines of an event.

He said it will take three years for the first FGFA to fly from the day the government gives the go ahead to the project.

A high-level committee set up by the government to examine various aspects of the project has recently submitted its report and the defence ministry is likely to take a call on it soon.

In 2007, India and Russia had inked an inter-governmental pact for the FGFA project.

In December 2010, India had agreed to pay USD 295 million (Rs 1,897 crore) towards the preliminary design of the fighter, which is called in India as the 'Perspective Multi- role Fighter'.

However, the negotiations faced various hurdles in the subsequent years.

In February last year, India and Russia revived talks on the project after a clearance from the then Defence Minister Manohar Parrikar.

Raju also said that HAL was looking at utilising the Sukhoi manufacturing facility for carrying out maintenance of the fleet as well as there is no future order for the jet.

On the Indo-Russian joint venture to produce 200 Kamov light weight multi-role military helicopters, he said things are moving fast and that a request for quotation (RFQ) is likely to be issued by the government soon.

In October last year, India and Russia had finalised a broad agreement for a joint venture between HAL and two Russian defence majors.

India is procuring Kamov choppers to replace its ageing Cheetah and Chetak helicopters.

Sixty Kamov-226T helicopters will be supplied to India in fly-away condition, while 140 will be manufactured in India.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

7th Pay Commission latest news today: Massive pay plus dearness allowance, house rent allowance; Details of this 7th CPC central government offer at upsconline.nic.in

KBC 12: Amitabh Bachchan to honour '1999 Kargil War' heroes in Kaun Banega Crorepati Grand Finale tonight

Home First Finance Company IPO review: Motilal Oswal recommends subscribe to the issue for Long Term

PUBG Mobile India rival FAU-G crosses 4 million pre-registrations ahead of release| Check launch date, trailer and other updates here

Stocks in Focus on January 22: Indigo Paints IPO, Biocon, Indian Energy Exchange, InfoEdge to Asian Paints; here are the 5 Newsmakers of the Day

Majority of potential car buyers in India open to subscription-based vehicle ownership: Report

Warning for bank account holders! Do this fast or you may be badly affected - check IDBI Bank notification

Budget 2021 Expectations LIVE: Check latest news, updates, demands here

Income tax returns (ITR) filing: What is Section 80D and how it impacts your outgo? Anil Singhvi Explains

Killer Bird Flu Alert: Do NOT eat eggs, chicken prepared this way; 10-pt Warning issued by FSSAI over avian influenza virus; check full list

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved