India’s push towards self-reliance in defence equipment for armed forces has borne fruit. Defence production has grown by double digits over the last decade, more than doubling from Rs 46,429 crore in FY15.A Moneycontrol analysis shows that the pace of growth has picked up further post-pandemic as the country targets the goal of Rs 3 lakh crore of defence production by 2029.
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Information and communications technology products distributor Rashi Peripherals Ltd on Wednesday (January 15) announced plans to acquire a 70% equity stake in Satcom Infotech Private Ltd. Satcom is a prominent distributor specialising in cybersecurity solutions. With this acquisition, Rashi Peripherals aims to strengthen its position as a comprehensive ICT solutions provider in India.
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Jio Finance Ltd., owned by Mukesh Ambani, plans to enter the local currency debt market for the first time, likely in the January-March quarter. The funds will be used for onlending to industries. Despite tighter RBI regulations, Jio Finance, with its top AAA credit rating, aims to leverage favorable borrowing conditions. It also offers various financial products and services.
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