World military spend climbs to $2.4 trillion in 2023: India takes 4th spot — Check top-10 list

The total global military expenditure in 2023 witnessed a 6.8% surge compared to 2022, which is the highest year-on-year increase since 2009. In dollar terms, countries spent as much as $2.4 trillion, which is much more than the total GDP of some countries. (Image: PTI)
Jammu: Army soldiers stand guard near the Line of Control (LoC), ahead of Independence Day, at Akhnoor sector in Jammu, Sunday, Aug. 13, 2023. (PTI Photo)(PTI08_13_2023_000189B)
The top 10 countries splurged a whopping $1.7 trillion on their armies in 2023, according to latest data provided by the Stockholm International Peace Research Institute (SIPRI). (Image: PTI)
It’s not surprising that the US is the number one country on the list of countries that spent the most money on upgrading their defence forces. Let’s take a look at the top-10 countries with the highest military spending in 2023.
(Image: Reuters)
No 10. Japan: The Asian country’s total military expenditure of 2023 amounts to $50.2 billion (approx Rs 4.1 lakh crores). Compared to the figures of 2022, Japan witnessed an increase of around 11 per cent in its military expenses.
No 10. Japan | Total military expenditure: $50.2 billion | The Asian country’s total military expenditure in 2023 amounts to $50.2 billion (approx Rs 4.1 lakh crore). Compared to the figures of 2022, Japan’s military spend witnessed an increase of around 11%. (Image: Reuters)
No 9. France: The total military expenditure of France amounted to $61.3 billion (approx Rs 5.1 lakh crores) in 2023. The European nation witnessed an increase of 6.5 per cent as compared to the expenses of 2022. (Image: Reuters)
No 9. France | Total military expenditure: $61.3 billion | The total military expenditure of France amounted to $61.3 in 2023. The European nation witnessed an increase of 6.5% compared to military expenses in 2022. (Image: Reuters)
No 8. Ukraine | Total military expenditure: $64.8 billion | Following two years of war with neighbouring Russia, the military expenses of Ukraine increased by a massive 51%. The country’s total military expenditure of 2023 amounted to $64.8 billion.
No 8. Ukraine | Total military expenditure: $64.8 billion | Following two years of war with neighbouring Russia, the military expenses of Ukraine increased by a massive 51%. The country’s total military expenditure of 2023 amounted to $64.8 billion. (Image: Reuters)
No 7. Germany | Total military expenditure: $66.8 billion | In 2023, Germany spent a whopping $66.8 billion on its armed forces. Compared to figures of 2022, the military expenditure of the European nation increased by 9%.
No 7. Germany | Total military expenditure: $66.8 billion | In 2023, Germany spent a whopping $66.8 billion on its armed forces. Compared to figures of 2022, the military expenditure of the European nation increased by 9%. (Image: Reuters)
No 6. United Kingdom | Total military expenditure: $74.9 billion | The United Kingdom spent $74.9 billion on its military in 2023. It recorded a surge of 7.9% compared to 2022. (Image: Reuters)
No 6. United Kingdom | Total military expenditure: $74.9 billion | The United Kingdom spent $74.9 billion on its military in 2023. It recorded a surge of 7.9% compared to 2022. (Image: Reuters)
No 5. Saudi Arabia | Total military expenditure: $50.2 billion | Saudi Arabia has emerged among the top five spenders with an expenditure of $75.8 billion (approx Rs 6.3 lakh crores). The country witnessed an increase of 4.3 per cent compared to 2022.
No 5. Saudi Arabia | Total military expenditure: $75.8 billion | Saudi Arabia has emerged among the top five spenders with an expenditure of $75.8 billion. The country witnessed an increase of 4.3 per cent compared to 2022. (Image: Reuters)
No 4. India | Total military expenditure: $50.2 billion |With some very sensitive borders, the country holds the fourth most powerful army in the world. India’s military expenditure rose by 4.2 per cent to $83.6 billion (approx Rs 6.9 lakh crores).
No 4. India | Total military expenditure: $83.6 billion | With some very sensitive borders, the country holds the fourth most powerful army in the world. India’s military expenditure rose by 4.2% to $83.6 billion. (Image: Reuters)
No 3. Russia | Total military expenditure: $109 billion | Amid the increasing tensions with Ukraine, the country has spent $109 billion (approx Rs 9 lakh crores) on its armed forces. The spending increased by a whopping 24 per cent compared to 2022. (AP Photo)
No 2. China | Total military expenditure: $260 billion | The country with the third most powerful army ranks second in the list of highest military expenses with a spending of $296 billion (approx Rs 24 lakh crores). Compared to 2022, China’s military expenditures increased by 6 per cent. (Image: Reuters)
US warship sails through Taiwan Strait following China war games
No 1. United States | Total military expenditure: $916 billion | The United States of America stands at the top of the list with a spending of $916 billion. The spending increased by 2.3 per cent as compared to what they spent in 2022. (Image: Reuters)
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Global military expenditure touched an all-time high of $2.4 trillion in 2023: Report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

News agency AFP quoted a senior researcher at Stockholm International Peace Research Institute (SIPRI), Nan Tian as saying that for the first since since 2009, military spending rose across all five geographical regions.

Global military expenditure in 2023 witnessed its steepest increase in more than a decade, touching an all-time high of $2.4 trillion, as per a new report by the Stockholm International Peace Research Institute (SIPRI), news agency AFP reported.

This was fuelled by the wars and rising global tensions. The report stated that military spending in Europe, Asia and Middle East witnessed a particularly large increase.

AFP quoted a senior researcher at SIPRI, Nan Tian as saying that for the first since since 2009, military spending rose across all five geographical regions.

The report stated that military spending increased by 6.8% in 2023, its steepest year-on-year increase since 2009, AFP reported.

Tian told the news agency that the increased military spending was a reflection of the deteriorating peace and security across the world.

The top five spenders were the United States, China, Russia, India and Saudi Arabia, AFP reported citing the report.

Tian said the continuation of the Ukraine war led to a rise in military spending in Russia and Ukraine and many of the European countries. As per SIPRI’s estimates, Russia’s spending increased by 24% in 2023, reaching $109 billion.

Ever since Russia annexed Ukraine’s Crimea in 2014, its military spending has increased by 57%.

On the other hand, Ukraine’s military spending increased by 51% to $64.8 billion. However, it also got military aid of $35 billion, majority of which came from the US. As per this, the combined spending and aid equalled over nine tenths of the spendings of Russia.

Tian told AFP that even though Russia and Ukraine’s overall budgets were more or less close in 2023, Kyiv’s military spending was 37% of its GDP and 50% of the entire government spending. On the other hand, Russia’s military spending equalled to 5.9% of its GDP. Tian added that Ukraine does not have as much room to increase its spending.

In Europe, Poland witnessed its largest increase in spending so far, increasing 75% to $31.6 billion, as per the report.

Military spending also increased across the Middle East, where Israel, which the second-largest spender in the region, witnesseda 24% increase in its expenditure to $27.5 billion last year. This was primarily driven by its offensive in Gaza.

Meanwhile, the Middle East’s largest spender Saudi Arabia, also increased its spending by 4.3% to around $75.8 billion, the report stated.

The US, which spends the most on its military compared to other nations, increased its expenditure by 2.3% to $916 billion, as per the report. China’s military spending expanded for the 29th consecutive year by another 6% to around $296 billion.

Japan and Taiwan both upped their military expenditures by 11% each to %50.2 billion and $16.6 billion, respectively, in 2023.

India, which is the fourth largest spender in the world, increased its spending to $83.6 billion in 2023, a 4.3% rise in expenditure.

Increase in spending in the Caribbean and Central America were driven by struggles such as fighting organised crime. The Domincian Republic increased its expenditure by 14%, responding to the worsening gang violence in Haiti spilling over the border.

Africa also witnessed an increase in its military budgets. The Democratic Republic of Congo’s spending more than doubled by 105% to $794 million, the largest increase by any nation percentage-wise, as tensions increased in neighbouring Rwanda.

South Sudan witnessed the second-largest increase of 78% to $1.1 billion.

Tian told AFP that the expectation is that the increasing military expenditure trend is likely to continue for a few years.

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‘Business Proposal’ star Kim Min-kyu starts mandatory military service, shares this message for fans

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kim Min Kyu began his military services on 1 April 2024 and shared a post to bid farewell to his fans.

South Korean actor Kim Min Kyu on Monday started his mandatory military service. Before he embarked on this fresh chapter of his life, Kim Min Kyu shared a heartwarming post on Instagram.

Popularly for his most-loved performances in K-dramas ‘Business Proposal’ and ‘Snowdrop’, Kim Min Kyu posted pictures showing his new buzz-cut look for his military enlistment. He also added a short and sweet message assuring his fans that he will be safe and back soon. “I’ll be back safely,” he wrote in the caption.

In the pictures, he is seen standing straight and saluting towards the camera. It is followed by other pictures which include selfies of the Business Proposal actor with smiles and winks.

As soon as the post was shared, fans got all emotional in the comment section. A fan wrote, “We’re going to miss you,” while another one extended best wishes, “Fighting! Take care of yourself, eat well, and sleep well. Hope your military service is going to be smooth.”

Notably, every abled male, as per South Korean law, is required to serve in the South Korean military for a particular period. That said, Kim Min Kyu now joins the list of other South Korean celebrities who are also fulfilling their military duties.

View this post on Instagram.

Kim Min Kyu’s military enlistment

On 20 March, the actor’s agency issued a statement announcing his upcoming enlistment as an active-duty soldier.

ALSO READ | Ajay Devgn’s ‘Shaitaan’ earns over Rs 2 crore in advance bookings ahead of March 8 release

“Actor Kim Min Kyu will commence his military service as an active-duty soldier on April 1. There will be no separate official event held on the day of his entry into the training centre. We kindly ask for understanding as the admission will be conducted privately to ensure safety and prevent on-site congestion,” the statement read further acknowledging the love and support from fans.

Kim Min Kyu, who made his debut with the 2013 TV drama ‘Monstar’, has since then worked in several shows including ‘Because This is My First Life’, ‘Perfume’, ‘Queen: Love and War’, ‘Backstreet Rookie’, and ‘Snowdrop’. His portrayal as Cha Sung Hoon in the 2022 drama ‘Business Proposal’ solidified his status as a top K-drama star.

Meanwhile, another South Korean actor Song Kang too is going for mandatory army service. Song Kang is popular in K-dramas including Love Alarm, Sweet Home, Navillera, Nevertheless, and Forecasting Love and Weather. He took a moment to express his profound gratitude a day before embarking on a new journey. In his heartfelt letter to his fans, Kang assured a prompt comeback.

Song Kang’s touching letter devoted to fans started with the star addressing his fans as “SONGPYEON.”  The emotional write-up read, “As you may have seen in news articles, I’m finally going! SONGPYEON who has loved me since my debut in 2017 and even after that! I think I am who I am because you are always there. So many memories and years are passing by like a flash these days.”

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nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
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Kim Jong-un directs North Korean military to speed up war readiness

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

North Korea has been expanding ties with Russia, among others, as Washington accuses Pyongyang of supplying military equipment to Moscow for use in its war with Ukraine, while Russia provides technical support to help the North advance its military capabilities.

North Korean leader Kim Jong Un has ordered its military, the munitions industry and the nuclear weapons sector to accelerate war preparations to counter what he called unprecedented confrontational moves by the U.S., state media said on Thursday.

Speaking on the policy directions for the new year at a key meeting of the country’s ruling party on Wednesday, Kim also said Pyongyang would expand strategic cooperation with “anti-imperialist independent” countries, news agency KCNA reported.

“He (Kim) set forth the militant tasks for the People’s Army and the munitions industry, nuclear weapons and civil defence sectors to further accelerate the war preparations,” KCNA said.

North Korea has been expanding ties with Russia, among others, as Washington accuses Pyongyang of supplying military equipment to Moscow for use in its war with Ukraine, while Russia provides technical support to help the North advance its military capabilities.

Kim also laid out economic goals for the new year during the meeting, calling it a “decisive year” to accomplish the country’s five-year development plan, the report said.

“He … clarified the important tasks for the new year to be dynamically pushed forward in the key industrial sectors,” and called for “stabilising the agricultural production on a high level.”

The North has suffered serious food shortages in recent decades, including famine in the 1990s, often as a result of natural disasters. International experts have warned that border closures during the COVID-19 pandemic worsened food security.

North Korea’s crop output was estimated to have increased year-on-year in 2023 due to favourable weather conditions. But a Seoul official has said the amount was still far below what is needed to address the country’s chronic food shortages.

The 9th plenary meeting of the 8th central committee of the Workers’ Party of Korea kicked off on Tuesday to wrap up a year during which the isolated North enshrined nuclear policy in its constitution, launched a spy satellite and fired a new intercontinental ballistic missile.

The days-long assembly of the party and government officials has been used in recent years to make key policy announcements. Previously, state media released Kim’s speech on New Year’s Day.

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Bathinda military station attack: Missing INSAS rifle found, here is what we know so far

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The FIR filed in the case said that one of the assailants was carrying an automatic weapon. According to Bathinda SP (Investigation) Ajay Gandhi two persons in civil dress were believed to be behind the shooting,

Four Army personnel were killed in a firing incident at the Bathinda military station in Punjab on Wednesday. As per reports, two masked assailants entered the military barracks around 4:35 am with weapons and fired about 19 rounds at the sleeping jawans.

The FIR filed in the case said that one of the assailants was carrying an automatic weapon.

According to Bathinda SP (Investigation) Ajay Gandhi, who is heading a police team probing the incident, two persons in civil dress were believed to be behind the shooting, Tribune reported.

A jawan saw two unidentified men in white kurta-pyjama, their faces and heads covered, coming out of the barracks after the firing. One of them was carrying an INSAS rifle and the other an axe, the FIR mentioned as stated by the jawan, the report added.

Here’s what we know about the military station firing so far:

The four Army jawans who were shot and killed in the incident, have been identified as Gunners Sagar Banne (25), Kamalesh R (24), Yogeshkumar J (24) and Santosh M Nagaral (25).

ALSO READ | Firing at Punjab’s Bathinda Military Station, four jawans dead — ‘one Insas rifle had gone missing’

They were asleep in adjoining rooms on the first floor when they were attacked in their barrack at the Bathinda military station.

As per the FIR, the two unidentified assailants were wearing white kurta pyjamas and one of them was seen with an INSAS rifle which was reportedly stolen from the camp earlier. After the attack, the assailants ran towards a forest near the barracks, the Hindustan Times reported.

The army deployed quick-reaction teams and cordoned off the area after the attack. A case under the Indian Penal Code Section 302 (murder) and the relevant sections of the Arms Act, was registered by the cantonment police.

During the investigation, shells belonging to an INSAS (Indian Small Arms System) rifle was found near the bodies. The rifle, which was issued to Lance Naik Bhupdi Hariz on March 31, had gone “missing” on April 9, the HT report added.

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Earlier, an FIR was registered on the complaint of Major Ashutosh Shukla, in which it was reported that an INSAS rifle with a magazine of 28 cartridges went missing from an army unit on April 9.

The missing weapon was likely used in the attack.

A similar INSAS rifle was found after the attack. The Army and Police Joint teams will be undertaking forensic analysis of the weapon and the balance number of rounds in the weapon will only be available after forensic analysis, according to a Times of India report.

So far, no individual has been detained or apprehended in the matter and the investigation is ongoing, the Army said.

The Punjab Police, which is also investigating the matter, said the incident was not a “terrorist act”.

Surinder Pal Singh, additional DGP told ANI, “This is not a terrorist incident. A probe is being done. An FIR lodged 2-3 days ago regarding the missing rifle and the matter is being investigated. We are in touch with Army officials.”

Further, Punjab MLA Anmol Gagan Maan said the incident was a “matter of internal fight”.

As per the ANI report, Defence Minister Rajnath Singh was also briefed on the incident by Army Chief General Manoj Pande. So far, there are no details about the motive surrounding the shooting. The military base has been locked down after the incident.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Defence Minister Rajnath Singh addresses India-Africa Army Chiefs’ Conclave in Pune | WATCH

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Noting that India has emerged as a leading defence exporter in recent years, Singh invited African countries to explore Indian defence equipment and technologies.

Speaking at the India-Africa Army Chiefs’ Conclave in Pune on Tuesday, Defence Minister Rajnath Singh proclaimed that India is steadfast in its commitment to provide support in all defence-related matters to African partner countries, including capability enhancement of their armed forces.

The conclave comes on the sidelines of the Africa-India Field Training Exercise (AFINDEX 2023), the second India-Africa joint military exercise which began at the Aundh Military Station in Pune on March 22.

Addressing the conclave’s inauguration, which was attended by 31 delegates from African nations, including 10 Army chiefs, Singh said India is at the forefront of providing training to the armed forces of African countries. Chief of the Army Staff General Manoj Pande was present as well.

“India is steadfast in its commitment to provide support in all defence-related matters to our African partner countries including capability enhancement of their armed forces,” he said.

India and Africa are maritime neighbours that are linked by the shared Indian Ocean between them. Singh noted that the two regions’ cooperation in maritime security and hydrograph and countering terrorism and extremism will be essential for peace and prosperity.

ALSO READ | 113 widows and families of defence personnel got jobs in last 5 years: India

Noting that India has emerged as a leading defence exporter in recent years, Singh also invited African countries to explore Indian defence equipment and technologies.

He added that the training programmes cover a wide range of areas including counter-insurgency, maritime security and specialised training in new domains such as drone operations and cyber warfare.

“India and Africa share a rich history, across millennia. Even from the perspective of the entire humanity, the ‘Out of Africa’ theory postulates that Africa is the cradle of all humanity, irrespective of the continent, races or ethnicity,” Singh said.

He added that India has been one of the strongest advocates of Africa’s decolonisation, and has worked to end imperialist, racist and apartheid regimes in the continent.

ALSO READ | India to spend 75% of defence capital outlay for procurement from domestic firms, says Rajnath Singh

“There is a natural feeling of partnership between India and Africa, in our common quest for achieving prosperity and a dignified life for our peoples,” the defence minister said.

He concluded his speech by assuring all African nations that India will continue to work to promote regional security, foster stability and enhance their defence capabilities together.

With agency inputs.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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India approves proposal worth Rs 70,500 crore for acquisition of military hardware

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

A meeting of Defence Acquisition Council (DAC), held on March 16, 2023 under the chairmanship of Raksha Mantri Shri Rajnath Singh, has accorded Acceptance of Necessity (AoN) for capital acquisition amounting to over Rs 70,500 crore under Buy {Indian-IDDM-(Indigenously Designed, Developed and Manufactured)}.

India on Thursday approved proposals worth Rs 70,500 crore for the acquisition of indigenously designed, developed and manufactured military hardware as part of a mega procurement plan that is expected to significantly boost domestic defence manufacturing.

The approval to the procurement proposals was accorded by the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.

“A meeting of Defence Acquisition Council (DAC), held on March 16, 2023 under the chairmanship of Raksha Mantri Shri Rajnath Singh, has accorded Acceptance of Necessity (AoN) for capital acquisition amounting to over Rs 70,500 crore under Buy {Indian-IDDM (Indigenously Designed, Developed and Manufactured)},” the Ministry of Defence said on Thursday.

Also Read: What is Very Short-Range Air Defence System and what are its advantages

Out of the total proposals, Indian Navy proposals constitute more than Rs 56,000 crore, which largely includes indigenous BrahMos missiles, Shakti Electronic Warfare (EW) systems, Utility Helicopters-Maritime etc.

While this additional procurement of BrahMos missile system will enhance the maritime strike capabilities & Anti-Surface Warfare Operation, the addition of Utility Helicopters will multiply the operational readiness of the Indian Navy in the domain of Search & Rescue operations, Casualty Evacuation, Humanitarian Assistance Disaster Relief (HADR) etc.

Similarly, Shakti EW systems will equip and modernise the frontline Naval ships to counter any Naval Operations by the adversaries, the ministry said.

The ministry said that to keep pace with the emerging technologies and counter the adversaries in the Western and Northern front, the necessity of the new weapons and its integration with the delivery platforms was felt by the Government.

“To achieve the same objectives, the DAC accorded the approval to Indian Air Force’s proposal for Long Range Stand-Off Weapon (LRSOW) which will be indigenously designed, developed and integrated on SU-30 MKI aircraft.”

For Artillery modernisation, in addition to the ongoing Dhanush Gun System and K-9 Vajra-T Gun System, AoN for procurement of 155mm/52 Caliber Advanced Towed Artillery Gun System (ATAGS) along with High Mobility Vehicles (HMVs) and Gun Towing Vehicles (GTVs) for the Indian Army was accorded by the DAC.

It also accorded AoN for procurement of Advance Light Helicopters (ALH) MK-III from Hindustan Aeronautics Limited (HAL) for the Indian Coast Guard. The Helicopter will be able to carry a suite of surveillance sensors which will enhance the surveillance capabilities. It will also give full night capability and Instrument Flight Rules (IFR) capability for operations of the Indian Coast Guard.

The go-ahead to the fresh procurement proposals came amid the nearly three-year-long standoff along the Line of Actual Control in eastern Ladakh with China.

According to the ministry, including today’s proposals, the total AoN granted for Capital Acquisition in the financial year 2022-23 is Rs.2,71,538 Crores, out of which 98.9 percent of the procurement will be sourced from the Indian industries.

Also Read: India to spend 75% of defence capital outlay for procurement from domestic firms, says Rajnath Singh

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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BTS member Jin goes to frontline boot camp for military service

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

BTS, South Korea’s most popular music group, will have to take a hiatus, presumably for a few years, since six additional younger members will all enlist in the military one after another in the upcoming years.

K-pop supergroup BTS member Jin prepared to report to a frontline South Korean boot camp on Tuesday to begin his 18 months of mandatory military service, as fans gathered near the base to say farewell to their favourite artist.

BTS, South Korea’s most popular music group, will have to take a hiatus, presumably for a few years, since six additional younger members will all enlist in the military one after another in the upcoming years.

Their enlistments have sparked a heated local debate about whether it’s time to overhaul the nation’s conscription system to widen exemptions to include well-known performers like BTS, or whether it’s better to withhold such privileges from anybody.

Their management agency said in October that all BTS members will carry out their mandatory military service, despite lawmakers squabbling at Parliament and studies revealing drastically divergent public sentiments over granting exemptions to BTS members.

Also read: BTS: BigHit Music announces Jin’s military enlistment, fans flood social media with “will miss you” notes

Following their service commitment, BTS members and Big Hit Music “are looking forward to reconvening as a group again around 2025,” according to the firm.

With other new conscript troops, Jin, who turned 30 earlier this month, will report to the boot camp in Yeoncheon, a town close to the sensitive border with North Korea, for five weeks of basic military training.

He would get a specific role and be assigned to a certain army unit after that training, a procedure that all other conscripts go through.

Tuesday morning, Jin wrote on the online fan community Weverse, “It’s time for a curtain call.” On Sunday, he uploaded a photo of himself sporting a military buzzcut, along with the remark, “Ha ha ha. It’s cuter than I had expected.”

Given Jin’s immense fame, just 20–30 supporters turned up close to the camp, which is a small number. Jin and Bit Hit Music had earlier requested fans not to visit the location to avoid any problems brought on by a large crowd.

Also read: BTS’s RM announces release of debut solo album ‘Indigo’

A police ambulance was stationed at the scene, and certain roadways were still blocked off to ensure peace and avoid any accidents. As South Korea is still recovering from the tragic Halloween crush in Seoul in October that left 158 people dead, strict safety measures were anticipated.

All physically capable South Korean men are required by law to serve 18–21 months in the military. Athletes, classical and traditional musicians, and ballet and other dancers, however, are given specific exemptions under the legislation if they have won top awards in competitions and raised the status of their country.

Even if they achieve worldwide renown and win significant international prizes, K-pop singers and other entertainers do not receive these benefits.

In order to promote justice in the nation’s military duty, defence minister Lee Jong-sup and the head of the recruitment office, Lee Ki Sik, earlier stated that it would be “ideal” for BTS members to complete their military obligations.

In South Korea, where the conscription compels young men to put their academic or professional pursuits on hold, exemptions or evading obligations are a very touchy subject.

Defense Minister Lee said in August that serving BTS members will likely be permitted to continue their practices and go overseas with other BTS members during tours.

Also read: BTS star Jin’s single The Astronaut sells 770,126 copies in first week of release

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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 5 Minutes Read

BTS members to start military service this year, delaying reunion to 2025

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

“Both the company and the members of BTS are looking forward to reconvening as a group again around 2025 following their service commitment,” HYBE-owned Bighit Music, which manages BTS, said in a separate statement.

K-pop boy band BTS will go off on mandatory military service, starting shortly with oldest member Jin, their agency said on Monday.

Jin, 29, has put off his service for as long as he can and faces the imminent prospect of a full stint – meaning nearly two years out of the public eye – when he turns 30 in December.

Since their 2013 debut, BTS have became a worldwide sensation with their upbeat hits and social campaigns aimed at empowering youth.

“Jin will cancel the request to delay enlistment in late October 2022 and follow the Military Manpower Administration’s relevant procedures for enlistment,” the seven-member band’s management group HYBE said in a regulatory filing.

Also read: Internet abuzz after Justin Bieber’s wife Hailey poses with his ex Selena Gomez

All other members will also serve the mandatory military duty according to their respective plans, it added.

“Both the company and the members of BTS are looking forward to reconvening as a group again around 2025 following their service commitment,” HYBE-owned Bighit Music, which manages BTS, said in a separate statement.

All able-bodied men in South Korea aged between 18 and 28 must serve in the military for between 18 and 21 months as part of efforts to defend against nuclear-armed North Korea.

Also read: Queen release rediscovered song featuring Freddie Mercury

Some categories, however, have won exemptions, or served shorter terms, including Olympics and Asian Games medal winners and classical musicians and dancers who win top prizes at certain competitions. Some lawmakers had called for BTS to be exempted.

BTS announced a break in June from group musical activities to pursue solo projects, raising questions about the band’s future.

They reunited to perform a free concert on Saturday in the city of Busan in support of South Korea’s bid to host the World Expo 2030 in the port city.

Also read: Weekender: Content and the ‘new normal’

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Key highlights from Xi Jinping’s opening speech at China’s Communist Party Congress

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

In his speech at the 20th Communist Party Congress, President Xi Jinping spoke on a range of issues — from national security to Taiwan to COVID-control policy. Details here.

The 20th congress of China’s ruling Communist party began on Sunday. In his opening speech that last less than two hours, President Xi Jinping spoke on a range of issues — from national security to Taiwan to COVID-control policy. Here are some key takeaways from Xi’s address at the Great Hall of the People on the west side of Tiananmen Square.

On Taiwan

Xi said, “Resolving the Taiwan issue is the Chinese people’s own business, and it is up to the Chinese people to decide.” He added China will never renounce the right to use force but will strive for a peaceful resolution.

“We have resolutely waged a major struggle against separatism and interference, demonstrating our strong determination and ability to safeguard state sovereignty and territorial integrity and oppose Taiwan’s independence,” Xi said.

ALSO READ | China’s Communist Party Congress begins Sunday — What to expect apart from Xi’s third term as leader

China considers democratically ruled Taiwan as its own territory. Tensions between the two nations escalated in August after China staged war games near Taiwan in retaliation to US House Speaker Nancy Pelosi‘s visit to Taipei.

China’s fight against COVID

Xi touted China’s fight against COVID-19. “We have adhered to the supremacy of the people and the supremacy of life, adhered to dynamic zero-COVID … and achieved major positive results in the overall prevention and control of the epidemic, and economic and social development,” Xi said.

ALSO READ | China sees rare protests against President Xi Jinping ahead of Communist Party meet — Visuals

On building military and security

Xi speech mentioned “safety” or “security” 73 times. He said China will accelerate the building of world-class military and strengthen its ability to build a strategic deterrent capability.

He further called for strengthening the ability to maintain national security, ensuring food and energy supplies, securing supply chains, improving the ability to deal with disasters and protecting personal information.

On economy

“We must build a high-level socialist market economic system… unswervingly consolidate and develop the public ownership system, unswervingly encourage and support the development of the private economy, give full play to the decisive role of the market in the allocation of resources, and give better play to the role of the government,” Xi said in his speech.

Emphasising that the next five years will be crucial for building a modern socialist power in China, Xi said, “…let the market play a decisive role in resource allocation”.

On ageing population and birth rate

Xi said China will enact policies to boost its birth rate. “We will establish a policy system to boost birth rates and pursue a proactive national strategy in response to population ageing,” Xi told some 2,300 delegates in the once-in-five-year Communist Party Congress in Beijing.

Policymakers worry that an imminent decline in China’s population could hurt the world’s second-biggest economy. China has 1.4 billion people, the most in the world. However, its births are set to fall to record lows this year, demographers say, dropping below 10 million from last year’s 10.6 million babies – already down 11.5 percent from 2020.

China had imposed a one-child policy from 1980 to 2015, later switching to a three-child policy, acknowledging the nation is on the brink of a demographic downturn.

On protecting environment

China will give priority to environmental protection and promoting green lifestyles, and the conservation of nature was an essential part of building a modern socialist country, the Chinese president said on Sunday.

Xi said China had made progress in tackling environmental problems over the last 10 years and vowed to “basically eliminate” heavy air and water pollution while bringing soil contamination under control.

On Hong Kong

Xi lauded the Communist Party taking control of the situation in Hong Kong, which was rocked by anti-government protests in 2019. He said China has achieved comprehensive control over Hong Kong, turning it from “chaos to governance”.

He said China must ensure Hong Kong is ruled by patriots and that it will support Hong Kong in integrating with the mainland. “One country, two systems” is the best system for Hong Kong and must be adhered to in the long run, Xi said.

On global politics

Xi said Beijing opposed a “Cold War mentality” in international diplomacy, though made no mention of frayed relations with the United States.

“China…resolutely opposes all forms of hegemony and power politics, opposes the Cold War mentality, opposes interfering in other countries’ domestic politics, opposes double standards,” Xi said, claiming Beijing “will never seek hegemony and will never engage in expansion”.

(With inputs from agencies)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?