State-owned HAL gets Rs 6,800 cr order for aircraft from Defence Ministry
About 60 per cent of the parts will be sourced from local manufacturers, leading to jobs for thousands.
The Finance Minister allocated almost Rs 6 lakh crore towards defence in the Union Budget for 2023, the last full budget before Lok Sabha polls. Following this infusion, state-owned Hindustan Aeronotics Limited has received a Rs 6,800 crore order from the Ministry of Defence. The firm will be supplying 70 HTT-40 trainer aircraft to the forces, to meet the shortage of airplanes for basic training of newly inducted pilots.
Focusing on local suppliers
To be supplied over a period of six years, the aircraft will come with 56 per cent indigenous parts, which will later be scaled up to 60 per cent. The order will also result in employment for thousands of people, through more than a 100 small and medium sized businesses, where components will be procured from.
In addition to this, the ministry has also ordered three cadet training ships worth Rs 3,100 crore from L&T. The order comes after HAL displayed its products at the Global Investor Summit in Visakhapatnam.
Last month, the Prime Minister Narendra Modi had also hailed HAL's rise as a reply to claims about the firm getting weakened over the years. The public sector firm had posted a whopping 23 per cent jump in profits for the October-December quarter.
RECENT STORIES
-
PBKS vs CSK, IPL 2024 Match 53: Chennai Return To Winning Ways With 28-Run Thrashing Of Punjab In... -
LSG vs KKR, IPL 2024 Match 54: Lucknow Super Giants Opt To Bowl, Yash Thakur In For Mayank Yadav -
VIDEO: Groom Demands Hyundai Creta In Dowry, Cancels Wedding After Bride's Family Offers Wagon R In... -
Travis Kelce Takes Solo Trip To Kentucky Derby Amid Break Up Rumours With Taylor Swift -
Andaman & Nicobar Islands Tour: 7 Scenic Places To Wander In 2024