Indian decision on F-16, F-18 could lead to 5th gen fighter jets: US official

Agencies
April 6, 2018

Washington, Apr 6: The trajectory of the India-US defence ties in the fighter jet segment depends on New Delhi's decision on the F-16 and F-18 warplanes being offered by the US, a top Defence Department official has said.

A positive decision by India could be a precursor to advanced fifth-generation fighter technology, Joe Felter, Deputy Assistant Secretary of Defence for South and Southeast Asia said, adding that the Trump administration would like a closer co-operation with India on fighter jets.

"So, starting down the path of fighter cooperation beginning with the (F-16) Block 70 or F-18, I think would be a great signal that the India (is) serious about the level of cooperation that we think would be in India's interest and could potentially, if we stay on this trajectory, lead to even closer cooperation, and even more advanced technology being offered," Felter told news agency in an exclusive interview.

"..I think it would be a natural progression to discuss at a later date sharing even more advanced fighter technology (maybe even fifth generation fighters)," he said.

The US is also considering New Delhi's interest in armed drones for its air force, the official said, noting that neither have they received any offer nor have they made any decision on this count.

"It would be natural for India to want them. We would have to consider this request but it hasn't been offered on our side yet. We are aware of their interest and we are considering that. But we haven't made any decisions," he said.

Last year, during Prime Minister Narendra Modi's visit to the US, Trump had agreed to sell unarmed drones to India so as to enhance India's surveillance capabilities in the Indian Ocean.

Asked about the fifth generation F-35 fighter jets, the official said there was no move from either side as was being reported in the media. The F-18 deal, however, was very much on the table, the official said.

"Our F-18, is the twin-engine fighter that India may consider for future purchases. It serves the US very well and has a cutting-edge technology," Felter said, adding that India adopting the F-18 would be one potential example of India-US closer cooperation in naval aviation.

"There would be better interoperability if we're flying similar platforms. We appreciate India is going to review its options and make a choice at some point in the time of their choosing," he said.

Noting that the US has offered the Block 70 version of the F-16, he said it was a technologically very advanced fighter. "It's superior to the platform that Israel flies for example. It is referred to as having generation 4.5 level of technology given it shares some of the same components as the F35 Joint Strike Fighter," he said.

"..This is a very, very advanced a platform - it shares some of the very same components that our most advanced fifth generation fighter does for example," he said.

Furthermore, Felter said, choosing the Block 70 fighter would mean that its entire production line would move to India which was consistent with New Delhi's 'Make in India' priority.

"..The fact that it will be made in India would make it possible for India potentially supply other partners in the region with this advanced fighter platform," Felter said.

But, the official said, the US has not made any other offers right now. "We are not in a position to make any offers right now, but given the trajectory of the relationship, we think identifying opportunities for even closer cooperation on fighters to include some of our most advanced fighters maybe even fifth generation fighters is a natural discussion to have at some point down the road," Felter said.

"Adopting the Block 70 version of the F-16 would be a very positive step down that path (towards fifth generation)," he said.

Responding to a specific question on the sale of F-35 to India, he said the US has made no such offer as of now.

"I have read that in the press. We have not made any offer, nor has it been formally requested. I think it's aspirational," he said.

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News Network
May 22,2020

May 22: A Pakistan International Airlines (PIA) flight on its way from Lahore to Karachi, crashed in the area near Jinnah International Airport on Friday, according to Civil Aviation Authority officials.

Geo News reported that the plane crashed at the Jinnah Ground area near the airport as it was approaching for landing. There were more than 90 passengers on board the Airbus aircraft. Black smoke could be seen from afar at the crash site, say eye witnesses.

There were no immediate reports on the number of casualties. The aircraft arriving from the eastern city of Lahore was carrying 99 passengers and 8 crew members, news agency AP said, quoting Abdul Sattar Kokhar, spokesman for the country’s civil aviation authority.

Witnesses said the Airbus A320 appeared to attempt to land two or three times before crashing in a residential area near Jinnah International Airport.

Flight PK-303 from Lahore was about to land in Karachi when it crashed at the Jinnah Garden area near Model Colony in Malir, just a minute before its landing, Geo News reported.

Local television reports showed smoke coming from the direction of the airport. Ambulances were on their way to the airport.

News agency said Sindh’s Ministry of Health and Population Welfare has declared emergency in all major hospitals of Karachi due to the plane crash.

It’s the second plane crash for Pakistani carrier in less than four years. The airline’s chairman resigned in late 2016, less than a week after the crash of an ATR-42 aircraft killed 47 people. The incident comes as Pakistan was slowly resuming domestic flights in the wake of the coronavirus pandemic, Bloomberg reported.

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Agencies
August 8,2020

Washington, Aug 8: The United States has reported 58,173 new coronavirus cases on Friday, bringing the total past 4.9 million, according to Johns Hopkins University.

"The first case of COVID-19 in the US was reported 198 days ago on 22.01.2020.Yesterday, the country reported 58,173 new confirmed cases and 1,243 deaths," it said.

The country is expected to cross the 5 million thresholds in the coming days. It leads the world both in terms of coronavirus cases and deaths estimated at over 161,300.

Overall, there have been 19.4 million cases confirmed globally and almost 721,800 people have died from virus-related complications. Another 11.7 million have recovered.

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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