GOOD READS

India, Russia sign pact for Smerch rockets

New Delhi, Aug 28 (IANS) India and Russia have tied up for a joint venture to manufacture Smerch rockets.

A memorandum of understanding for starting the joint venture was signed between India's Ordnance Factory Board (OFB) and Russia's Rosoboronexport and Splav SPA here Monday, the defence ministry said Tuesday.

The technology for the five versions of Smerch rockets will come from Russia.

"OFB signed a MoU for a joint venture with Rosoboronexport and Splav SPA to manufacture five versions of Smerch Rockets based on the technology received from Russia," a ministry statement said.

Smerch rockets are a hi-tech weapon system with a range of 70-80 km.

"The MoU, duly approved by Defence Minister A.K. Antony, has been signed by three parties in New Delhi," it said.

After indigenising the technology of Smerch rockets, OFB will attain new heights in manufacturing of the advanced rocket system, it added.

Russia is India's largest defence partner with over 70 percent of Indian armed forces equipment coming from that country.

The two nations already have a successful joint venture in the design, development and manufacture of the BrahMos supersonic cruise missiles.

They have also tied up for the joint design and development of the fifth generation fighter aircraft and the medium transport aircraft.

Quiz: How well do you know India's economy?

Question 1

Which of these products is India the world's largest producer of?

Poll Choice Options
  • Wheat
  • Rice
  • Milk
1
2
3
4
5
6
7
8
9
10

Latest News

  • Apple lifts Nasdaq; Ukraine drags on broader market

    The Nasdaq rose modestly in choppy trade on Thursday as Apple's shares rallied a day after the iPad maker's strong results, though tensions in Ukraine held back the broader market. Caterpillar Inc (CAT.N) shares jumped nearly 2 percent and helped limit the Dow’s loss after the world's largest maker of earth-moving machinery reported earnings that exceeded Wall Street's expectations. The three major U.S. stock indexes had opened sharply higher, with the Nasdaq initially climbing more than 1 …

  • Austin Modern With Replica Cadillac Showroom Asks $1.6M

    Have a nomination for a jaw-dropping listing that would make a mighty fine House of the Day? Get thee to the tipline and send us your suggestions. We'd love to see what you've got. Click here to view the full... …

  • Met office sees below-average monsoon in 2014
    Met office sees below-average monsoon in 2014

    India is likely to have below-average monsoon rainfall in 2014, raising the possibility that drought could stoke inflation and hit a sluggish economy dependent on the elements because half the country's farmland lacks irrigation. To cut dependence on rains, India plans to expand irrigated farmland by at least a tenth by 2017. The Indian Meteorological Department's (IMD) first monsoon forecast on Thursday was in line with the outlook of the World Meteorological Organisation that predicted …

  • Japan's NTT Docomo to exit Indian market - Nikkei

    REUTERS - Japan's NTT DoCoMo Inc will unload its 26 percent stake in its loss-making Indian mobile phone joint venture, Tata Teleservices Ltd, and withdraw from the country, the Nikkei newspaper reported. ... …

  • Tour the Arresting Interiors of the World's Top Meeting Rooms

    The Federal Parliament Building in Bern, Switzerland. Photo by Luca Zanier/Wired How much did the outcome of the Cuban Missile Crisis depend on the decor of the Situation Room? An open question, to be sure, but Swiss photographer Luca Zanier... …

IN-DEPTH ANALYSIS & INTERVIEWS

  • Leaderspeak with Vikram Limaye

    Vikram Limaye MD & CEO, IDFC Ltd shares many firsts from his life. …

  • The Greening of the House of Tatas

    How a dedicated team converted a 90-year-old heritage structure into a benchmark for environment-friendly buildings. …

  • Appy Voting

    Mobile and online apps, seeking to inform or influence voters, have been more active than ever before in this election. …

  • In the crosshairs

    Why the future of FDI in multi-brand retail looks bleak after the polls. …

  • Deserving the honour

    How do the winners of the two new banking licences - microfinance lender Bandhan Financial Services and infra institution IDFC Ltd - measure up to the challenges of operating as full-fledged banks? …

  • A Samurai from Chandigarh

    Advertising veteran Sandeep Goyal is disarmingly frank as he recounts his years with Dentsu. …

  • Falling in line

    Global investors gear up to working with Narendra Modi despite reservations about his secular credentials. …

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    16.52-0.33-1.96%
    UNITECH.BO
    14.31-0.27-1.85%
    SUZLON.BO
    120.40+7.00+6.17%
    FRL.BO
    66.05+4.10+6.62%
    MANGCHEM.BO
    54.40+1.65+3.13%
    HCLINFO.BO
  • Price % Gainers
    Price % Gainers
    NamePriceChange% Chg
    16.20+2.70+20.00%
    JAGSONPH.BO
    53.50+8.90+19.96%
    RUSHIL.BO
    40.45+6.45+18.97%
    RCIIND.BO
    63.95+8.90+16.17%
    MRPL.BO
    24.00+3.10+14.83%
    NELCAST.BO
  • Price % Losers
    Price % Losers
    NamePriceChange% Chg
    10.95-10.95-100.00%
    4THGEN.BO
    17.30-17.30-100.00%
    ALFAICA.BO
    16.81-16.81-100.00%
    AMAL.BO
    11.73-11.73-100.00%
    BORAX.BO
    29.95-29.95-100.00%
    BRADYM.BO
  •  
    Recent Quotes
    Symbol Price Change % ChgChart 
    Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
    You need to enable your browser cookies to view your most recent quotes.
  • Recent Quotes News

    •  
      Sign-in to view quotes in your portfolios.