The recent Rafah bombing was a grim story to hear, no matter your affiliation. In light of this we looked into the weapons and drones used during the assault. We were surprised to find the hand of one of our very own – Adani.
In 2018, Adani Enterprises and Elbit Systems (Israel’s largest arms producer) launched a joint venture, Adani Elbit Advanced Systems India Limited. With a 49% share, Elbit opened a $15-million facility in Hyderabad. Its first order was to make the Hermes 900 UAV for the Israel Defence Forces. Elbit makes 85% of the drones used by the Israel Defence Forces.
It is equipped with high-performance sensors which makes it easy to detect ground or maritime targets across a wide spectral range.
The Indian government delivered a number of Hermes 900 drones to Israel on an unspecified date to meet “Israel’s needs in the Israel-Hamas war.”
The delivery of the drones signals increasing military collaboration between New Delhi and Tel Aviv. India is reportedly one of the largest purchasers of Israeli weapons, spending over $1 billion per year.
Along with drones Adani develops and manufactures assault weapons, sniper rifles and machine guns with Israel Weapon Industries (IWI) for the Israel Defence Forces. In October 2022, Adani announced its business with IWI was expanding to weapons controlled by AI. They unveiled ‘India’s first AI-based firing system, ARBEL, the next-generation small-arms solution’ at the DefExpo 2022.
Last week in a nutshell
India is the UK’s 2 largest FDI source
More and more Indian businessmen are buying UK companies like they’re shopping for groceries! With over 900 Indian-owned companies in the UK. Giants like Reliance Industries and Tata Group are leading this. Keep scrolling for the full story.
The future of Indian job security
By 2030, 1 out of 5 working-age people on Earth will be Indian! This means we need to create at least 11.5 crore jobs by 2030 to both absorb underutilised working and incoming labour force. If you do the math we need to generate 1.65 crore jobs per year, of which 1.04 crore will need to be formal jobs.
Looks like the government won the lottery
In an interesting turn of events, the RBI decided to transfer a record surplus of ₹2.11 trillion to the government for 2023-24. Why’s the surplus transfer so huge? It could be because the RBI has accumulated substantial profits due to favourable market conditions, robust economic performance, or effective monetary policies.
Make your home loan interest-free
Let’s assume,
- Loan amount: ₹40 lakh (for 20 years)
- SIP = 0.1% of loan amount = ₹4,000.
| Loan(9% interest rate) | SIP (15% return rate) | ||
|---|---|---|---|
| Monthly EMI | ₹35,989 | Monthly SIP | ₹4,000 |
| Duration | 20 Years | Duration | 20 Years |
| Total principal | ₹40,00,000 | Total Invested | ₹9,60,000 |
| Interest after 20 years | ₹46.37 Lakhs | Returns after 20 years | ₹50.28 Lakhs |
By starting an SIP along with your Loan, you will be able to recover your interest by the time your loan is paid off! | |||
Revenge for the Kohinoor
Indian companies are making big moves in the UK.
Despite being a developing economy with a $3.3 trillion GDP, Indian firms are investing heavily in the UK, known for its financial clout, tech advancements, and stable market.
So, who’s leading the reverse colonialism?
Giants like Reliance Industries and Tata Group are leading this. Reliance has snapped up Faradion Limited, a battery tech leader, and the famous British toy retailer Hamleys. They also bought Stoke Park, a well-known British hotel, in 2021.
Tata Group’s key acquisitions include Tetley tea in 2000 and the iconic Jaguar and Land Rover from Ford. They recently announced a €4 billion investment in a UK Gigafactory to produce batteries for Jaguar Land Rover, creating 4,000 jobs.
By 2021, India had become the UK’s second-largest source of foreign direct investment, creating thousands of jobs and supporting nearly a thousand Indian-owned businesses. Some call this “reverse colonialism,” highlighting the significant influence Indian companies now have in the UK.
But how does investing in the UK benefit India?
◾Job creation: Acquiring a foreign company allows for expansion which may require additional manpower.
◾ Technology transfer: For example, by acquiring Jaguar Land Rover, The Tata Group taps into advanced automotive technology. This technology can then be brought to India.
◾ Stronger trade relations: As Indian companies invest in the UK, they bring in revenue, which contributes to a favourable trade balance.
◾ Revenue stream: The revenue generated can be used to buy more companies overseas, or bring it back to India, presenting another form of capital.
