I am a tough negotiator, let me save money: Parrikar on Rafale deal

March 5, 2016

New Delhi, Mar 5: Showing no signs of relenting, Defence Minister Manohar Parrikar today said he is a "tough negotiator" and wants the "best price" for Rafale fighter jets from France.

parrikar However, the minister said the budget for next fiscal takes into account the Rafale deal for which "adequate money" has been kept aside.

"I am a tough negotiator. Let me save money for the nation," Parrikar told reporters here when asked why the deal has not been signed yet.

Stating that he was aware that the IAF needs the aircraft, the minister added "I think a good buyer does not put his weakness in front. He always keeps his cards close to his chest. Please don't ask me to disclose my cards in national interest."

Asked if he was looking at any alternative to equip the IAF in case the Rafale deal does not go through, he said "many times it is better to cross the bridge when it comes".

The defence budget for the next fiscal takes into account the payments that will have to be made when the Rafale deal is signed, said Parrikar who had last month made it clear that the price of the aircraft was the only sticking point left in the agreement.

At least 15 per cent of the total payment will have to be made immediately, if and when the deal is signed.

During French President Francois Hollande's visit here in January, India and France had inked an MoU for the purchase of 36 French Rafale aircraft but persisting differences over the pricing of the fighter jet came in the way of the multi-billion dollar deal being wrapped up.

The deal is estimated to cost about Rs 59,000 crore.

Comments

Where is make in India? when it will happen only advertisement?

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

India's first underwater metro nears completion after costs double

News Network

January 28,2020

New Delhi, Jan 28: Kolkata Metro Rail Corp expects to complete its East-West project, which runs partly under the city’s iconic Hooghly river, by March 2022 after a delay of several years doubled costs.

The authority is awaiting a final installment of Rs 20 crore ($2.8 million) over the next two years from the Indian Railway Board, said Manas Sarkar, managing director at KMRC. A soft loan of Rs 4,160 crore from Japan International Cooperation Agency helps fund 48.5% of the project.

India’s oldest metro, which started in 1984 with a North-South service, was due to expand by 2014 but faced problems including squatters on the planned route. These issues have contributed to the total project cost rising to about Rs 8,600 crore for some 17 kilometers from Rs 4,900 crore for 14 km.

“About 40% of total transport demand will be tackled by these two metro services,” Sarkar said in an interview at his office in Kolkata. “It will be a relief for environmental pollution and the city should be much more decongested.”

The new line is expected to carry about 900,000 people daily, -- roughly 20% of the city’s population -- and will take less than a minute to cross a 520-meter underwater tunnel. Depending on the time of day, it takes some 20 minutes to use the ferry and anywhere upward of an hour to cross the Howrah bridge.

KMRC will repay the JICA loan over 30 years after an initial six-year moratorium. The interest rate is between 1.2% to 1.6%. The East-West metro project is 74% owned by the railway ministry and 26% by the ministry of housing and urban affairs.

“We don’t anticipate any further cost escalation now,” Sarkar said.

Comments

Add new comment

Coastaldigest.com reserves the right to delete or block any comments.
Coastaldigset.com is not responsible for its readers’ comments.
Comments that are abusive, incendiary or irrelevant are strictly prohibited.
Please use a genuine email ID and provide your name to avoid reject.

India's Glenmark to conduct trials for potential COVID-19 drug, shares jump

News Network

April 30,2020

Bengaluru, Apr 30: Shares of Glenmark Pharmaceuticals Ltd rose almost 9% on Thursday after the Indian drugmaker got an approval to conduct clinical trials with antiviral drug favipiravir, seen as a potential treatment for COVID-19.

Favipiravir, manufactured under the brand name Avigan by a unit of Japan's Fujifilm Holdings Corp and approved for use as an anti-flu drug in the Asian island country in 2014, has been effective, with no obvious side-effects, in helping coronavirus patients recover, a Chinese official told reporters at a news conference last month.

"After having successfully developed the API and the formulations ... Glenmark is all geared to immediately begin clinical trials on favipiravir on COVID-19 patients in India," Sushrut Kulkarni, executive vice-president for Global R&D, Glenmark Pharmaceuticals, said in a statement.

The Drug Controller General of India, the country's drug regulator, did not immediately respond to Reuters request for comment.

On Wednesday, another Indian pharmaceutical company, Strides Pharma Science Ltd, said it had developed and commercialized favipiravir antiviral tablets, and had applied to Indian drug authorities to start trials.

Shares of Mumbai-based Glenmark Pharmaceuticals, which rose as much as 8.9% to 359 rupees ($4.78), was trading up 5.9%, as of 0407 GMT.

Comments