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Russia-Reliance group pact, 197 defense choppers for army and IAF

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By NewsGram Staff Writer

Reliance_Infra-640x434New Delhi: There is a possibility of a Rs. 6,000 crore ($925 million) project between the defence arm of the Anil Ambani led Reliance Group and the Russian government, to make 197 helicopters for the Indian Army and the Indian Air Force, sources said on Friday.

Proclaimed as one of the largest deals under the “Make in India” programme, it calls for making 197 Kamov 226T choppers to retire the Chetak-Cheetah fleet that has been the key inventory in frontline operations for over 30 years, notably in difficult terrain like Siachen, the sources added.

“We are committed to actively participating in Prime Minister Modi’s ‘Make in India’ and ‘Skill India’ program,” the spokesperson for Reliance Defence said when asked for the company’s comment on the deal, which involves manufacture of these light utility helicopters in the country.

“The manufacture of both military and civil helicopters to meet the needs of the country are a significant part of this commitment,” the spokesperson added.

It is reliably learnt that the project is to be executed under a new joint venture, for which the chosen Indian partner is a newly set-up chopper arm of Reliance Defence — which, in turn, is a subsidiary of Reliance Infrastructure. The process is on to acquire an industrial licence.

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Russian President Vladimir Putin had pushed for the Ka-226T during the summit with Prime Minister Narendra Modi here last December. Upon agreeing to be make these choppers in India, Russia was offered an initial deal for 200 of these helicopters with the potential for another 400.

In May, the Defence Acquisition Council chaired by Defence Minister Manohar Parrikar cleared the proposal. Now, after extensive talks, the Russian government has communicated to New Delhi that it will be implementing the project in a joint venture with an Indian company — and that the partner so chosen is Reliance Helicopters. It also involves transfer of technology, sources said.

Earlier this month, Pipavav Defence, a part of the Reliance Group, was selected by Zvyozdochka Shipyard of Russia for the refit of 24 EKM 877 submarines in India, a deal potentially worth Rs.30,000 crore.

The company, the controlling stake of which was acquired by the Reliance Group earlier this year, was also selected by United Shipbuilding Company of Russia for the manufacture of four Talwar-class frigates, according to sources.

The company is also said to be a strong contender to build six advanced submarines for the navy, along with five other firms, for which the Indian government is expected to float a request for proposal soon. This deal is potentially worth Rs.60,000 crore.

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Cybercrimes cost businesses $600 billion globally: McAfee report

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted.

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Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.
Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage. Wikimedia Commons

Cybercrimes have cost businesses close to $600 billion globally — or 0.8% the global GDP — which is up from $445 billion reported three years back, a report said on Thursday.

The report by the global cybersecurity firm McAfee, prepared along with the Centre for Strategic and International Studies (CSIS), said that over the last three years, cybercriminals have quickly adopted new technologies to ease the process of engaging in cybercrimes.

“Ransomware-as-a-Service Cloud providers efficiently scale attacks to target millions of systems, and attacks are automated to require minimal human involvement,” Steve Grobman, Chief Technology Officer for McAfee, said in a statement.

Also Read: Indian companies more prone to cyber attacks

“Add to these factors cryptocurrencies that ease rapid monetisation, while minimising the risk of arrest, and you must conclude that the $600 billion cybercrime figure reflects the extent to which our technological accomplishments have transformed the criminal economy as dramatically as they have every other portion of our economy,” he added.
The report, titled “Economic Impact of Cybercrime — No Slowing Down”, said that banks remain the favourite target for cybercriminals.

McAfee, Inc. is an American global computer security software company.
McAfee, Inc. is an American global computer security software company. Wikimedia Commons

Russia, North Korea and Iran are the most active in hacking financial institutions, while China is the most active in cyber espionage.

“Our research bore out the fact that Russia is the leader in cybercrime, reflecting the skill of its hacker community and its disdain for Western law enforcement,” said James Lewis, Senior Vice President at CSIS.

“North Korea is second in line, as the nation uses cryptocurrency theft to help fund its regime, and we’re now seeing an expanding number of cybercrime centres, including not only North Korea but also Brazil, India and Vietnam,” Lewis added.

Cybercrime losses are greater in richer countries; however, the countries with the greatest losses are mid-tier nations that are digitised but not yet fully capable of cybersecurity, the report noted. (IANS)