India, Russia close to final testing of air-launched BrahMos

MOSCOW

MOSCOW: Indian and Russian scientists are close to final development and testing of the air-launched version of the BrahMos supersonic cruise
missile.

A top Russian defence official said a new takeoff engine for launching of the missile in air and at extreme high altitudes had been developed.

Alexander Leonov, director of the Russian Machine Building Research and Production Centre, said: "we are ready for test launches."

Leonov was quoted as saying by the Itar-Tass news agency that the initial test firing of the missile would be undertaken from the Sukhoi-30 MKI, but did not specify the exact dates.

After testing, the IAF would be launch customers for the air launched BrahMos cruise missile, which will make the Indian Air Force, the only force in Asia to have such a capability.

The BrahMos is already inducted in its ship to shore role and land-to-land versions in the Indian Navy and Army.

Leonov for the first time disclosed that Moscow and New Delhi were also "very close" to designing and testing of the submarine launched version of the BrahMos missile.

TOI

Prez Pratibha Patil inaugurates Armed Forces Tribunal

New Delhi,

New Delhi, Aug 8 (PTI) The establishment of Armed Forces Tribunal, an exclusive court for members of the Army, Navy and Air Force, will enhance their confidence and trust levels in the system of dispensation of justice in relation to their service matters, India's President Pratibha Patil said Saturday while inaugurating the Tribunal here in the national capital of New Delhi

The keenly awaited Armed Forces Tribunal (AFT) will provide a judicial forum for redressal of grievances among the 1.

India, South Korea ink free trade pact

NEW DELHI: India and South Korea signed a comprehensive economic partnership agreement on Friday which will make Korean consumer products and auto-parts cheaper in India.

The deal excludes fully built-up vehicles, and provides for easier movement of contractual service providers and professionals between the two countries and treatment of investments from the one another’s country at par with domestic investments.

This is the second CEPA signed by India, the other being with Singapore. This is also India’s first bilateral trade agreement with an OECD country.

As per the agreement, South Korea will eliminate duties on 93% of its industrial and agricultural products and India will do the same on 85% of its goods. India has excluded sensitive items farm products, textile items and built up automobiles from tariff elimination commitments. Duties will be phased out on most of these products in the next eight years.

The Indian subsidiary of Korean electronic goods manufacturer, Samsung India, pointed out that the pact will further strengthen business relationship between the two countries. “It will become easier to get new technology and innovative products into the country. Besides, the move will attract more Korean investments into India and vice-versa,” Samsung India deputy managing director R Zutshi told ET.

South Korean auto manufacturers with operations in India, too, are celebrating the pact as gradual elimination of the 12% duty on auto components would considerably bring down their input costs.

“It will make us more price competitive. Though the actual benefits of the FTA will result in a few years, but the reduction in duties on components and other automotive parts will bring down their effective prices and help create price advantage from our Indian operations,” Hyundai Motor India spokesman said.

The Indian industry is looking at the pact as an opportunity to bridge the bilateral trade deficit in favour of South Korea and improve export of services.

“We have projected a doubling of trade between India and South Korea within the next 5 years. Of the $10.2 billion bilateral trade for the period April 2008-February 2009, India had a deficit of $4.6 billion with Korea and this imbalance has to be corrected through greater market access for exports from India, said Ficci secretary general Amit Mitra.

Liberalisation in movement of service professionals is among the major gains expected for Indian industry out of the India–Korea CEPA, CII director general Chandrajit Banerjee pointed out. “India has a comparative advantage in services, such as IT/ITeS, Educational Services etc. We welcome the market access provided by Korea for Indian service providers”, said Mr. Banerjee.

CII expects Korean investments to flow into sectors like chemicals, food processing and metals. Both countries have committed to provide national treatment and protect each other’s investments to give a boost to bilateral investments in all sectors except these specifically exempted from it, an official release said.

The CEPA will come into force after it is ratified by the Korean National Assembly and the notifications to bring it into effect are made by the two countries.

ET