JUNE 20249INDIAN GOVERNMENT & FRANCE TO COMMENCE NEGOTIATIONS INVOLVING RAFALE JETSContract negotiations between the governments of India and France for a significant Rs 50,000 crore deal involving 26 Rafale Marine fighter jets are set to commence on May 30, with a high-level French delegation arriving in India. The French team will meet with counterparts from the Indian Defence Ministry to begin official negotiations for the acquisition of these fighter jets, which are intended for the Indian Navy's aircraft carriers, INS Vikrant and INS Vikramaditya.The French delegation will include officials from their defense ministry and representatives from key defense industry players such as Dassault Aviation and Thales. The Indian delegation will comprise members from the Defence Acquisition Wing and the Indian Navy. The aim is to complete the negotiations and sign the agreement by the end of the current financial year.France responded to India's tender for the Rafale Marine jets in December, submitting their detailed bid, including the commercial offer. The Indian side has thoroughly examined the French bid, including the price and other contractual details, and is now prepared to enter into rigorous negotiations.This deal is structured as a government-to-government contract, necessitating careful and potentially tough negotiations between the two countries officials to finalize the terms. JUPITER WAGONS DEDICATES RS.1,500 CRORES FOR DIVERSIFICATION OF ITS MANUFACTURINGJupiter Wagons is planning a substantial expansion, with an investment of Rs 1,500 crore over the next two years to diversify its revenue streams beyond its core wagon manufacturing business. According to Vivek Lohia, managing director of Jupiter Wagons, Rs 1,200 crore of this investment will be allocated to increasing the company's train wheel manufacturing capacity, scaling up from 20,000 wheels annually to 100,000 wheels in the next two years.Additionally, Jupiter Wagons is set to enter the electric vehicle market by launching its first electric light commercial vehicle (ELCV). The initial ELCV, which has a one-ton payload capacity, is expected to be launched in July or August, with plans to introduce vehicles with up to two-ton payloads by the end of the year. This move is part of a broader strategy to introduce higher payload vehicles starting next year.The company's strategic shift aims to balance revenue equally between wagon manufacturing and high-margin sectors such as railway components, commercial vehicles, and container businesses. Currently, wagons contribute around 60-70% of the company's revenue, but this is expected to drop to below 50% as the other sectors grow. Jupiter Wagons is also increasing its wagon production capacity from 8,000 units annually to 12,000 and 15,000 units by 2025-26. TOP STORIES
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