Business
Great News! Defence Ministry Bans Import Of 351 Items, will save Rs 3000 crore
The defence ministry on Wednesday announced a fresh list of 351 sub-systems and components that will not be allowed to be imported under a staggered timeline beginning December next year.
It is the third list released by the ministry in the last 16 months and it comes as part of the government’s overall aim to make India a hub of manufacturing of military platforms and equipment.
Will save ₹3,000 crore annually
The ministry said the new initiative will save foreign exchange equivalent to around ₹ 3,000 crore annually. It also released a list of 2,500 items that it said have already been “indigenised”.
“A positive indigenisation list of sub-systems/assemblies/sub-assemblies/components has been notified by the department of defence production, Ministry of Defence, as part of the efforts to achieve self-reliance in defence manufacturing and minimise imports by defence public sector undertakings,” the ministry said in a statement.
351 imported items will be indigenised in the next three years, it said, adding, the items mentioned in the list will only be procured from Indian industries as per the timelines indicated.
According to the notification, import restrictions on the first set of 172 items will come into force by December next year while the same provisions will be applicable on another batch of 89 components by December 2023. Import restrictions on another set of 90 items will come into effect by December 2024.
Items banned from import
The items include a laser warning sensor, high-pressure check valve, high-pressure globe valve, drainage intrusion detection systems, and various types of cables, sockets and voltage control oscillator.
In August last year, the ministry announced that India will stop the import of 101 weapons and military platforms like transport aircraft, light combat helicopters, conventional submarines, cruise missiles and sonar systems by 2024.
A second list, putting import restrictions on 108 military weapons and systems such as next-generation corvettes, airborne early warning systems, tank engines and radars, was issued in May. In the last few years, the government has taken a series of measures to boost domestic defence manufacturing.
Aim to reduce dependency on other nations
In May last year, the government announced increasing the FDI limit from 49 per cent to 74 per cent under the automatic route in the defence sector. India is one of the largest importers of arms globally.
According to estimates, the Indian Armed Forces are projected to spend around $130 billion in capital procurement in the next five years.
The government now wants to reduce dependence on imported military platforms and has decided to support domestic manufacturing. The ministry has set a goal of a $25 billion turnover in defence manufacturing in the next five years that include an export target of $5 billion in military hardware.
Business
Apple is giving a huge discount on its gadgets: Details inside
If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.
The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.
Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.
Amazon Summer Sale May 2022: Discount offer on iPhone 13
Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.
If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.
Buy at Rs. 64,900 (MRP – Rs. 79,900)
Features of Apple iPhone 13
The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.
The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.