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Cabinet Greenlights ₹1,000 Crore VC Fund to Enhance Space Sector

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Cabinet Greenlights ₹1,000 Crore VC Fund to Enhance Space Sector

Union Cabinet Approves Rs 1,000 Crore Venture Capital Fund for Indian Space Sector

October 24, 2023

In a significant move to bolster the Indian space sector, the Union Cabinet, led by Prime Minister Narendra Modi, has approved the establishment of a dedicated venture capital fund worth Rs 1,000 crore. Announced on Thursday, the fund aims to support the burgeoning space industry and is expected to generate substantial employment opportunities by aiding startups across the entire space supply chain.

Under the supervision of the Indian National Space Promotion and Authorization Center (IN-SPACe), the proposed venture capital fund will operate over an estimated period of five years from its commencement. The Cabinet indicated that the average deployment amount could range from Rs 150 to Rs 250 crore annually, contingent upon the investment landscape and requirements.

Investment amounts will vary, with planned allocations between Rs 10 crore and Rs 60 crore, tailored to the specific growth stage and potential of each company. For example, the fund could provide equity investments ranging from Rs 10 crore to Rs 30 crore for growth-stage companies and Rs 30 crore to Rs 60 crore for those further along in their development. The Cabinet estimates that the initiative could support approximately 40 startups.

This decision aligns with the government’s 2020 space sector reforms, which established IN-SPACe to facilitate increased private sector involvement in space activities. The Indian space economy, currently valued at Rs 8.4 billion, aims to expand to Rs 44 billion by 2033, underscoring the critical need for timely financial support to the nearly 250 emerging space startups within the sector.

A Cabinet note emphasized the urgency for financial backing to ensure these startups can thrive domestically and mitigate talent exodus to international markets. Highlighting the strategic importance of this fund, officials noted that it would enhance investor confidence, attract private capital, and underscore the government’s commitment to ongoing space reforms.

By fostering innovation and economic growth through this capital infusion, the fund seeks to retain companies in India, expedite the development of space technologies, enhance global competitiveness, and nurture a vibrant innovation ecosystem. Additionally, the expected capital injection is anticipated to attract further investment for later-stage development, thereby reinforcing the overall stability of the space sector, according to the Cabinet.

This initiative marks a pivotal step in advancing India’s space ambitions, positioning the country as a competitive player on the global stage.

Canadian MP Chandra Arya: ‘We Have Long Acknowledged and Encountered Khalistani Extremism’

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Canadian MP Chandra Arya: 'We Have Long Acknowledged and Encountered Khalistani Extremism'

Canadian MP Addresses Khalistani Extremism, Calls for Urgent Action

In a statement on X Wednesday, Canadian Member of Parliament Chandra Arya spoke out against the growing concern of Khalistani extremism in Canada, reiterating the importance of Canadian sovereignty and rejecting any foreign interference in domestic affairs. Arya highlighted that the administration has long been aware of the severity of this issue and emphasized that such external influences are “unacceptable.”

Arya recounted a recent encounter at a Hindu event in Edmonton, where he participated with the protection of Royal Canadian Mounted Police (RCMP) officers amid disruptive protests by Khalistani demonstrators. He stated, “In Canada, we have long recognized and experienced the serious problem of Khalistani extremism,” underscoring the urgency for law enforcement agencies to address the threat seriously.

“The sanctity of Canadian sovereignty is sacrosanct,” Arya asserted, urging a robust investigation into Khalistani extremism, which he categorized as a pressing concern within the country. He expressed confidence in the RCMP’s commitment, noting that a national task force is actively focused on this matter, stating, “Khalistani violent extremism is a Canadian problem.”

This statement comes amid heightened tensions between Canada and India, following Prime Minister Justin Trudeau’s claims in Parliament last year regarding credible allegations of Indian involvement in the killing of Khalistani terrorist Hardeep Singh Nijjar. Nijjar, who had been designated a terrorist by India’s National Investigation Agency in 2020, was shot outside a Gurdwara in Surrey in June 2023.

The diplomatic relations between the two nations have further deteriorated after Canada identified India’s High Commissioner and other diplomats as “persons of interest” in the investigation into Nijjar’s death, leading to strong denials from India regarding the allegations, which it has labeled as “absurd” and “motivated.”

As discussions around Khalistani extremism continue, Arya’s call for serious action reflects a growing concern among Canadian officials and communities regarding the influence of extremist elements within the country.

US Greenlights $7.3 Billion Deal for F-16 Upgrades to Poland

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US Greenlights $7.3 Billion Deal for F-16 Upgrades to Poland

U.S. Approves $7.3 Billion Upgrade Sale for Poland’s F-16 Warplanes

The United States government has announced the approval of a substantial $7.3 billion sale to upgrade Poland’s fleet of F-16 warplanes, a move aimed at enhancing the military capabilities of the NATO member state that borders the conflict-ridden Ukraine.

In a statement issued by the Defense Security Cooperation Agency (DSCA), officials highlighted that this proposed sale is aligned with U.S. foreign policy objectives and national security interests. The upgrades are expected to bolster the security of Poland, which serves as a strategic ally promoting political and economic stability in Europe.

"This upgrade will support Poland’s air defense and surveillance capabilities, enhance national security, and reinforce contributions to NATO," the DSCA noted in its announcement.

The potential sale has received the green light from the State Department and was officially communicated to Congress on Wednesday, which will review the deal before it can be finalized.

As tensions escalate in Eastern Europe due to the ongoing conflict in Ukraine, this investment in Poland’s defense infrastructure underscores the United States’ commitment to strengthening NATO alliances and maintaining regional stability.

New Bomb Threats Impact Over 70 Flights Following Hoax Calls, Report Indicates

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New Bomb Threats Impact Over 70 Flights Following Hoax Calls, Report Indicates

Bomb Threats Disrupt Over 70 Flights Across Indian Airlines

In a concerning development, more than 70 flights operated by various Indian airlines received bomb threats on Thursday. Sources indicate that Air India, Vistara, and IndiGo each reported around 20 flight threats, while Akasa Air faced threats on approximately 14 flights.

This alarming trend has persisted over the last 11 days, with nearly 250 flights operated by Indian carriers being affected by similar threats. An Akasa Air spokesperson confirmed that several of its flights scheduled for October 24 had received security alerts.

"The Akasa Air Emergency Response teams are monitoring the situation and are in touch with the security and regulatory authorities," the spokesperson stated. "We are following all safety and security procedures in coordination with local authorities."

In response to these ongoing threats, Civil Aviation Minister K Rammohan Naidu announced earlier this week that the government is considering legislative measures to address the issue. These measures may include placing individuals responsible for such threats on a no-fly list, as authorities prioritize passenger safety and security in light of these serious incidents.

The situation remains under close scrutiny as airlines and government officials work together to ensure the safety of air travel in India.

Indonesia Claims Chinese Coast Guard Vessel Expelled from Contested Waters

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Indonesia Claims Chinese Coast Guard Vessel Expelled from Contested Waters

Indonesia Drives Away Chinese Vessel from Contested South China Sea Waters

Jakarta, Indonesia – In a significant demonstration of territorial assertion, Indonesia announced on Thursday that it had successfully driven a Chinese coast guard vessel from contested waters in the South China Sea on two separate occasions in recent days. The events mark a continuing trend among Southeast Asian nations pushing back against Beijing’s maritime activities in the strategically crucial waterway.

The Indonesian Maritime Security Agency confirmed that the Chinese vessel re-entered Indonesia-claimed territories in the North Natuna Sea on Wednesday after initially being intercepted earlier in the week. According to the agency’s statement, the Chinese ship had first entered the contested area on Monday and responded to Indonesian authorities by claiming the waters fell under China’s jurisdiction.

The presence of the Chinese vessel reportedly interfered with a survey being conducted by Indonesia’s state-owned oil company, Pertamina. In response, the Indonesian Coast Guard shadowed the foreign ship and successfully expelled it from the area.

Chinese foreign ministry spokesman Lin Jian responded in a regular press briefing later Thursday, reiterating that Chinese coast guard operations are routine patrols conducted in compliance with both international and domestic law. He expressed China’s willingness to enhance communication and collaboration with Indonesia on maritime matters through diplomatic channels.

The South China Sea is believed to contain vast reserves of untapped oil and gas, although estimates of these resources vary widely. The recent incidents present the first significant challenge for Indonesia’s newly-inaugurated President Prabowo Subianto, who has made it clear that he intends to reinforce the defense of Indonesian waters.

In past confrontations, Indonesia has shown a robust military presence, deploying fighter jets and warships to patrol the waters surrounding the Natuna Islands, particularly in response to incursions from Chinese vessels. Despite their status as key economic partners, Indonesia is increasingly vigilant about foreign fishing activities in its waters, which it claims result in annual economic losses estimated in the billions of dollars.

China, which asserts vast claims over the South China Sea disregarding an international tribunal ruling that deemed its claims baseless, has recently intensified pressures on other regional players, including attempts to displace the Philippines from strategically significant reefs. Additionally, tensions have also escalated between China and Japan over a disputed group of islands in the East China Sea, further raising concerns amongst Tokyo and its allies.

As Indonesia reaffirmed its commitment to safeguarding its territorial integrity, the situation reflects the broader geopolitical complexities surrounding the South China Sea and the important role of regional countries in balancing relations with China.

Swiss Army Transitions to Digital with New Mobile App for Documents

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Swiss Army Transitions to Digital with New Mobile App for Documents

Swiss Army Embraces Digitalization with Launch of DIM Wallet App

The Swiss Army has taken a significant step towards modernization by introducing the DIM Wallet mobile application, which enables members to access essential documents and submit leave requests seamlessly. Launched in early October, the app allows military personnel to receive marching orders and leave passes without the need for an internet connection, thereby minimizing the reliance on printed paper documents and ensuring that soldiers can obtain necessary information without delay.

One of the notable features of DIM Wallet is its accessibility for military police, security personnel, and inspectors at military facilities, who can utilize the app to validate QR codes without prior registration. This enhancement streamlines operations and reinforces security measures through the incorporation of digital signatures in the QR codes, designed to prevent forgery and unauthorized access. Importantly, the app is structured to ensure data protection, with no user information stored on mobile devices.

Moreover, DIM Wallet offers integration with SwissPass, facilitating easier access to identification and public transportation services, including public transport tickets associated with marching orders.

This strategic move towards digitalization reflects a broader initiative within the Swiss military to enhance administrative efficiency, paralleling trends observed in other nations, such as Ukraine, where digital systems have reportedly expedited supplies to military units. As the Swiss Army continues to adapt to technological advancements, the DIM Wallet app represents a significant leap toward operational efficiency in the modern military landscape.

Italy and Qatar Collaborate on Short-Range Anti-Drone Radar Development

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Italy and Qatar Collaborate on Short-Range Anti-Drone Radar Development

Fincantieri Partners with Barzan Holdings to Develop Anti-Drone Radar System for Qatar

Italian defense and shipbuilding firm Fincantieri has formalized a significant collaboration with Qatar’s Barzan Holdings, aiming to develop an advanced short-range anti-drone radar system known as “Omega360.” The memorandum of understanding, valued at 100 million euros (approximately $108 million), underscores the growing defense partnership between Italy and Qatar.

The Omega360 program is part of a broader strategic cooperation, which was highlighted during a recent meeting between Italian Prime Minister Giorgia Meloni and Qatari Emir Tamim bin Hamad Al-Thani in Rome, where they explored avenues to bolster security and defense initiatives. In a joint statement, the leaders emphasized ongoing discussions regarding the potential establishment of an Italian military logistics hub in Qatar, as well as enhancing coordination of exports in the region.

The Omega360 radar system promises comprehensive surveillance capabilities, offering 360-degree coverage with high precision. Its advanced technology allows for the classification and identification of drone targets by analyzing radio frequencies, enabling detection from considerable distances, even when drones approach from multiple directions. This cutting-edge system will utilize high-resolution Doppler radar and sophisticated artificial intelligence algorithms to enhance its functionality.

Under the agreement, a total of 40 Omega360 radars will be developed to establish Qatar’s national anti-drone defense framework, with production expected to commence by the end of 2026.

Fincantieri has maintained a strong presence in Qatar over the years. In 2016, the company was awarded a substantial contract worth 4 billion euros (about $4.4 billion) for the construction of various naval vessels, including corvettes and patrol boats. The establishment of Fincantieri Services Middle East further solidifies its investment, providing a support hub for vessel construction that will remain operational for 15 years post-delivery.

Adding to their strong ties, Fincantieri and the Qatar Emiri Naval Forces recently signed an agreement aimed at delivering advanced education and training programs for personnel in Qatar’s naval forces.

This latest initiative highlights the ongoing commitment between Italy and Qatar to enhance their defense capabilities and foster mutual cooperation in the region.

Hezbollah Confirms Israel Has Killed Potential Successor to Nasrallah

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Hezbollah Confirms Israel Has Killed Potential Successor to Nasrallah

Hezbollah Confirms Death of Key Leader Hashem Safieddine in Israeli Air Strike

Hezbollah has confirmed the death of Hashem Safieddine, who was considered the potential successor to the group’s long-time leader Hassan Nasrallah, in an Israeli air strike. The announcement was made Wednesday, with the militant group stating that Safieddine was killed alongside other Hezbollah leaders, although it did not specify the exact timing or location of the attack.

This confirmation follows Israel’s statement from the previous day, indicating that Safieddine lost his life during an air strike in the southern suburbs of Beirut approximately three weeks ago. Hezbollah released a statement mourning Safieddine, describing his death as a result of a "criminal and aggressive Zionist raid."

Described as a deeply religious cleric with close ties to Nasrallah, Safieddine had been viewed as a leading candidate for the leadership position following the September 27 assassination of Nasrallah in a significant Israeli air strike. Safieddine served on Hezbollah’s governing Shura Council and was recognized for his strong connections to Iran, having studied in the Islamic Republic’s holy city of Qom.

His status as a prominent figure was further highlighted by his designation as a "terrorist" by both the United States and Saudi Arabia in 2017. The ongoing tensions in the region continue to escalate following these significant losses for the Iran-backed group, heightening concerns about future retaliatory actions and the impact on stability in Lebanon.

Turkey Launches Strikes on Kurdish Militants Following Fatal Assault on Defense Company

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Turkey Launches Strikes on Kurdish Militants Following Fatal Assault on Defense Company

Turkey Launches Airstrikes Against Kurdish Militants Following Deadly Attack Near Ankara

In a swift response to a deadly assault on a defense firm near Ankara, Turkey has launched airstrikes against Kurdish militants in Iraq and Syria on Wednesday. The attack, which resulted in the deaths of five people and left 22 others wounded, has been attributed by the government to the outlawed Kurdistan Workers’ Party (PKK), a group that has been engaged in a long-standing insurgency against the Turkish state.

The offensive commenced shortly after a significant explosion occurred at the Turkish Aerospace Industries (TAI) headquarters, located approximately 40 kilometers north of Ankara. Eyewitness accounts reported clouds of smoke billowing from the site as gunfire erupted. Interior Minister Ali Yerlikaya described the incident as a “terror attack,” while President Recep Tayyip Erdogan condemned it as a “heinous” act targeting Turkey’s defense industry and the country’s survival.

According to Yerlikaya, the two attackers—a woman and a man—were “neutralized” during the incident, and three of the injured remain in critical condition. Although there was no immediate claim of responsibility, authorities suggested strong ties to the PKK, a group designated as a terrorist organization by Turkey and several Western countries.

The Turkish Defense Ministry confirmed that air operations targeting PKK positions in northern Iraq and Syria successfully destroyed 32 terrorist sites, with operations ongoing. The PKK, which has maintained rear bases in Kurdish regions spanning Iraq and Syria, has been engaged in armed conflict with the Turkish state since 1984, resulting in the loss of tens of thousands of lives.

World leaders, including Russian President Vladimir Putin, extended condolences to Erdogan and condemned the attack, which drew outrage both domestically and internationally. The incident has raised questions about the ongoing dialogue surrounding a potential political resolution to the decades-long conflict with Kurdish militants. The pro-Kurdish party, Dem, highlighted the timing of the attack as significant, occurring amid discussions on possible dialogue and solutions.

As the situation continues to develop, Turkish authorities have imposed a media blackout on live reports from the scene, while rescue operations remain underway at the attacked site. With TAI being a major player in Turkey’s defense sector, employing over 15,500 workers, the ramifications of this attack are likely to be profound, affecting both national security policy and the broader political landscape.

Engine Manufacturer Renk Establishes Presence in Italy Ahead of Upcoming Armor Investment Surge

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Engine Manufacturer Renk Establishes Presence in Italy Ahead of Upcoming Armor Investment Surge

Renk Expands Operations to Italy Amid Growing Defense Partnerships

Rome, Italy — In a strategic move underscoring the burgeoning defense collaboration in Europe, German propulsion company Renk has announced the establishment of a new subsidiary in La Spezia, Italy. This announcement comes just one week after defense heavyweights Rheinmetall and Leonardo revealed plans to manufacture tanks and infantry fighting vehicles for the Italian army in the same city.

Renk’s decision to set up shop in La Spezia positions the firm within a key region that is not only close to Italian military customers but also to vital partners in the defense sector. The company, which already supplies gearboxes for Rheinmetall from its facilities in Germany, aims to capitalize on Italy’s impressive €23 billion ($25 billion) defense contract for military vehicles.

“By establishing a local presence, we are closer to Italy’s technological and industrial base – a cornerstone of European defense. This positions Renk to adeptly address the current and future demands of Italian customers and partners,” stated Susanne Wiegand, CEO of Renk Group AG.

This development follows an announcement from Leonardo and Rheinmetall regarding their joint venture, which will operate out of La Spezia. The venture aims to produce 1,050 new infantry fighting vehicles based on Rheinmetall’s Lynx platform and 132 main battle tanks based on the Panther KF51, which is still under development. Leonardo and Rheinmetall are set to share work equally, with 50% assigned to Leonardo, 40% to Rheinmetall’s operations in Germany, and the remaining 10% allocated to Rheinmetall’s facilities in Italy.

The La Spezia facility has ample space for the construction of new production lines and is historically significant, having previously been the site of tank production operations under Oto Melara, a former subdivision of Leonardo now fully integrated into the company.

Renk has also made notable appointments for its new Italian division, hiring Sergio Rizzi, a former Hensoldt executive, as CEO, while Retired Adm. Pier Federico Bisconti, a former deputy national armaments director in Italy, will take on the role of chairman.

With reported revenues of €926 million in 2023, Renk’s product portfolio includes gear units, transmissions, power-packs, and hybrid propulsion systems, further solidifying its potential impact on Italy’s defense landscape.

As Italy enhances its military capabilities and forms strategic alliances with leading defense firms, Renk’s expansion reflects a growing trend toward localized production to meet national and regional defense needs.

Tom Kington is the Italy correspondent for Defense News.