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More than 400 volunteers take part in Green Recycling Day activities in support of Hong Kong Flower Show
More than 400 volunteers, in support of the Hong Kong Flower Show, assisted in separating and collecting reusable and recyclable materials at the showground for waste reduction today. These volunteers came from the Hong Kong Jockey Club, corporates, local organisations and the Home and Youth Affairs Bureau’s youth network Youth Link. There were also LCSD staff volunteers, as well as those recruited under the department’s Green Volunteer Scheme.
In addition, around 3 500 pots of flowers in good condition and suitable for replanting were distributed to the public at the park’s Sugar Street entrance today.
Some flowers suitable for replanting were also distributed to schools, environmental groups and non-governmental organisations via the “Give the Flowers a New Home!” Jockey Club Flower Replanting Scheme to encourage greening in the community. This year, over 10 000 potted plants were distributed to more than 80 organisations.
Meanwhile, some landscape displays will be relocated to designated parks in the 18 districts, enabling members of the public to appreciate the gorgeous landscape designs, as well as boosting the colour of the parks.
As in previous years, the LCSD has implemented various green measures at different stages of the flower show, encouraging all stakeholders including exhibitors, contractors, volunteers and members of the public to apply the 3R principles, namely “Reduce, Reuse and Recycle”.
During the preparation phase, stakeholders were provided with guidelines on waste reduction. Exhibitors were encouraged to use recyclable or reusable materials in their display designs. While cleaning up the exhibits, they were reminded to collect reusable materials and separate the leftover materials properly before delivering them to recycling spots set up at the showground.
During the show period, visitors were encouraged to bring their own water bottles and reusable shopping bags. QR codes were displayed at the showground for visitors to download the location map and information on the theme flower, landscape displays and more. A free tableware rental service was also provided to reduce the use of disposable plastic tableware, as part of the effort to reduce waste. Recyclables collection points were also set up to facilitate the collection of carton boxes, plastic flower pots and other plastics, soil, metals, wooden planks and more. Collection points for wilted flowers were also available for collecting so that they can be delivered to the Animal Waste Composting Plant in Ngau Tam Mei to be recycled into useful organic compost.
The LCSD hopes to gather community power through implementing various green measures to achieve the goal of a “Green Flower Show for All”.
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Survey results of 2024 Annual Earnings and Hours Survey released
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Survey results of 2024 Annual Earnings and Hours Survey released
According to the statistics released today (March 24) by the Census and Statistics Department (C&SD), the median monthly wage of employees in Hong Kong in May – June 2024 was $20,500. This was 3.6% higher than the median of $19,800 in May – June 2023.
The change in monthly wage in 2024 when compared with 2023 is useful in reflecting the change in take-home pay of employees between these two years.
In May – June 2024, the 10th, 25th, 75th and 90th percentile monthly wages of Hong Kong employees were $10,700, $14,800, $32,000 and $50,000 respectively. They were 3.1%, 3.6%, 2.8% and 3.1% higher than the corresponding figures in May – June 2023 respectively (Table 1).
As shown in Table 2, increase in median monthly wage was observed for both male and female employees and for all age groups, educational attainments, occupational groups and industry sections.
Hourly wage
The median hourly wage of employees in Hong Kong in May – June 2024 was $82.9, 3.5% higher than the median of $80.1 in May – June 2023. The 5th, 10th, 25th, 75th and 90th percentile hourly wages were $46.1, $49.3, $59.2, $131.5 and $209.3 respectively. The overall hourly wage distribution of employees is shown in Table 3. The number of employees analysed by selected hourly wage level is shown in Table 4.
In May – June 2024, the median hourly wage of male employees was $93.3 while that of female employees was $73.2. Analysed by age group, the median hourly wage of employees at age 35 – 44 was the highest ($97.2), followed by employees at age 25 – 34 ($86.7) and at age 45 – 54 ($83.9). The median hourly wages of employees of different sexes, age groups, educational attainments, occupational groups and industry sections are given in Table 5.
Further information
The above wage statistics were compiled based on the data obtained from the 2024 Annual Earnings and Hours Survey (AEHS). The purpose of the survey is to provide comprehensive data on the level and distribution of wages, employment details and demographic profile of employees in Hong Kong. These statistics are useful for studies on labour-related topics by the private sector and the Government. They also provide important inputs for analyses related to the Statutory Minimum Wage. A sample of about 10 000 business undertakings was selected for the survey.
Wage(s) is defined to include basic wage, commission and tips not of gratuitous nature, guaranteed bonuses and allowances, and overtime allowance paid to an employee in the survey period. It does not cover bonuses and allowances of gratuitous nature, end of year payment and payments in kind. Number of working hours is the sum of contractual/agreed working hours (including meal breaks if they are regarded as working hours according to the employment contract or agreement with the employer) and overtime hours worked at the direction of employers.
By arranging the hourly wages of all employees from the smallest to the largest value, the median hourly wage is the hourly wage of the employee who ranks in the middle of all the employees concerned. In other words, the median hourly wage is the hourly wage value that delineates the lowest 50% of all the employees concerned.
Percentile hourly wage figures are useful in discerning the distribution of hourly wage of employees. The pth percentile hourly wage is the hourly wage value which delineates the lowest p% of all the employees concerned, where p can be any integer value from 1 to 99. For instance, the 10th percentile hourly wage is the hourly wage value that delineates the lowest 10% of the employees. The 25th percentile, 50th percentile and 75th percentile hourly wages are also known as the lower quartile, median and upper quartile hourly wages respectively.
The median and percentile monthly wage figures are derived similarly as the median and percentile hourly wage figures.
Regarding the survey coverage, the AEHS covers all business undertakings irrespective of their employment sizes and industries, except those engaged in agriculture, forestry and fishing activities. All employees of business undertakings falling within the scope of the survey who are under the coverage of the Minimum Wage Ordinance (MWO) are included in the survey. Government employees as well as student interns, work experience students and live-in domestic workers as exempted by the MWO are excluded. As it is necessary to derive the hourly wage of employees from their monthly wages and hours of work, those employees with zero working hours in the survey reference period are also excluded.
Details of the wage statistics compiled from the 2024 AEHS and the survey methodology are given in the 2024 Report on Annual Earnings and Hours Survey. Users can browse and download the publication at the website of the C&SD (www.censtatd.gov.hk/en/EIndexbySubject.html?pcode=B1050014&scode=210
Enquiries concerning the survey results of the AEHS can be directed to the Wages and Labour Costs Statistics Section (2) of the C&SD at 3105 2369.
Issued at HKT 16:30
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Inspection of aquatic products imported from Japan
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In response to the Japanese Government’s plan to discharge nuclear-contaminated water at the Fukushima Nuclear Power Station, the Director of Food and Environmental Hygiene issued a Food Safety Order which prohibits all aquatic products, sea salt and seaweeds originating from the 10 metropolis/prefectures, namely Tokyo, Fukushima, Ibaraki, Miyagi, Chiba, Gunma, Tochigi, Niigata, Nagano and Saitama, from being imported into and supplied in Hong Kong.
For other Japanese aquatic products, sea salt and seaweeds that are not prohibited from being imported into Hong Kong, the Centre for Food Safety (CFS) of the Food and Environmental Hygiene Department is conducting comprehensive radiological tests to verify that the radiation levels of these products do not exceed the guideline levels before they are allowed to be supplied in the market.
As the discharge of nuclear-contaminated water is unprecedented and will continue for 30 years or more, the Government will closely monitor the situation and continue to implement the enhanced testing arrangements. Should anomalies be detected, the Government does not preclude further tightening the scope of the import ban.
From noon on March 21 to noon today (March 24), the CFS conducted tests on the radiological levels of 343 food samples imported from Japan, which were of the “aquatic and related products, seaweeds and sea salt” category, in the past three days (including last Saturday and Sunday). No sample was found to have exceeded the safety limit. Details can be found on the CFS’s thematic website titled “Control Measures on Foods Imported from Japan” (www.cfs.gov.hk/english/programme/programme_rafs/programme_rafs_fc_01_30_Nuclear_Event_and_Food_Safety.html).
In parallel, the Agriculture, Fisheries and Conservation Department (AFCD) has also tested 150 samples of local catch for radiological levels. All the samples passed the tests. Details can be found on the AFCD’s website (www.afcd.gov.hk/english/fisheries/Radiological_testing/Radiological_Test.html).
The Hong Kong Observatory (HKO) has also enhanced the environmental monitoring of the local waters. No anomaly has been detected so far. For details, please refer to the HKO’s website
(www.hko.gov.hk/en/radiation/monitoring/seawater.html).
From August 24, 2023, to noon today, the CFS and the AFCD have conducted tests on the radiological levels of 124 315 samples of food imported from Japan (including 81 677 samples of aquatic and related products, seaweeds and sea salt) and 28 728 samples of local catch respectively. All the samples passed the tests.
EPD convictions in February
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EPD convictions in February
Two of the convictions were under the Air Pollution Control Ordinance, six were under the Environmental Impact Assessment Ordinance, seven were under the Noise Control Ordinance, nine were under the Public Cleansing and Prevention of Nuisances Regulation, eight were under the Product Eco-responsibility Ordinance, 16 were under the Waste Disposal Ordinance.
The heaviest fines in February were $20,000 for an offence assessed against a company that caused another person to import controlled waste without a permit; and another fine of $20,000 assessed against a company that imported controlled waste without a permit.
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14 building plans approved in January
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14 building plans approved in January
Of the approved plans, eight were for apartment and apartment/commercial developments, two were for commercial developments, one was for factory and industrial development, and three were for community services developments.
In the same month, consent was given for works to start on five building projects which, when completed, will provide 25 433 square metres of gross floor area for domestic use involving 26 units, and 206 432 sq m of gross floor area for non-domestic use. The department has received notification of commencement of superstructure works for three building projects.
The department also issued 16 occupation permits, with four on Hong Kong Island, five in Kowloon and seven in the New Territories.
Of the buildings certified for occupation, the gross floor area for domestic use was 85 225 sq m involving 1 886 units, and 23 398 sq m was for non-domestic use.
The declared cost of new buildings completed in January totalled about $8.1 billion.
In addition, six demolition consents were issued.
The department received 2 551 reports about unauthorised building works (UBWs) in January and issued 422 removal orders on UBWs.
The full version of the Monthly Digest for January can be viewed on the Buildings Department’s homepage (www.bd.gov.hkIssued at HKT 15:00
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Speech by FS at Milken Institute Global Investors’ Symposium Hong Kong (English only) (with photos/video)
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Following is the speech by the Financial Secretary, Mr Paul Chan, at the Milken Institute Global Investors’ Symposium Hong Kong today (March 24):
Laura (Executive Vice President of Milken Institute International, Ms Laura Deal Lacey), Robin (Chair of Asia, Milken Institute, Mr Robin Hu), distinguished guests, ladies and gentlemen,
Good afternoon. I am delighted to join you once again for the Milken Institute Global Investors’ Symposium. Allow me first to express my sincere appreciation to the Milken Institute for bringing this exceptional platform back to Hong Kong for its second edition.
Today, we welcome over 400 senior executives from a diverse array of industries and markets worldwide. The theme for the Symposium this year, “Connecting Global Markets: Partnerships for Resilience”, is particularly timely. In today’s complex global landscape, brimming with challenges and uncertainties, it is clear that we can build resilience and achieve mutual growth only by strengthening connections, forming partnerships and enhancing collaboration. And Hong Kong, as an international financial centre, is uniquely positioned to catalyse this endeavour.
Hong Kong: a resilient city
To begin with, allow me to share with you the remarkable resilience of Hong Kong’s economy and financial markets.
Over the past year, despite external headwinds, Hong Kong’s economy continued to grow steadily, expanding by 2.5 per cent. Inflation remained low at 1.1 per cent. The latest unemployment rate is at 3.2 per cent.
International confidence in our financial markets has evidently strengthened. Last year, bank deposits in Hong Kong rose by 7 per cent, i.e. about US$140 billion. Driven by investments by institutional investors seeking to rebalance their investment portfolio, as well as market enthusiasm ignited by recent tech breakthroughs led by DeepSeek and others, the Hang Seng Index has surged some 20 per cent within a span of three months. This was on top of the increase of 18 per cent in 2024. The average daily turnover of our stock market rose to over US$28 billion in the first two months of this year, a remarkable 70 per cent increase from that of last year.
Our IPO (initial public offerings) market also made a comeback, raising some US$11 billion last year and ranking fourth globally. Now, more than 100 companies are in the pipeline for listing. This year, we are expecting to raise some US$17 to $20 billion.
Just last week, Hong Kong again ranked third in the Global Financial Centres Index, with overall scores catching up to that of the champion New York. In particular, we ranked first globally in “investment management”, “insurance” and “finance”. In fintech, we leapt by five places to fourth in the world.
Besides, Hong Kong was once again ranked as the freest economy in the world, and the fifth most competitive economy. We stay firm as a free port, open to business, and committed to supporting the rules-based multilateral trading system.
Last year, the number of regional headquarters, regional offices and local offices operated by Mainland and overseas companies rose by nearly 10 per cent, reaching an all-time high to around 10 000.
2024 was also a great year for inbound tourism, with visitor arrivals rebounded to 45 million, rising by 30 per cent year-on-year. The surge of visitors highlighted Hong Kong’s charm as a top-notch business and tourism destination.
Beyond numbers, Hong Kong remains an open, vibrant and diverse city. This month marks our “Super March” – with an impressive array of world-class events: from the artistic vibrancy of Art Basel and the spectacular LIV Golf, to the electrifying Hong Kong Sevens and the innovation-driven ComplexCon. Alongside these events, we have global business gatherings such as the Wealth for Good Summit and, of course, this Symposium. These events celebrate and showcase Hong Kong as an international meeting point for finance, culture, sports, creativity and fun! I hope you all can stay a bit longer – until this Sunday – to enjoy these happenings.
Overall, the Hong Kong economy is marching forward steadily with renewed momentum. Let me tell you why.
New Frontiers in Finance
First, we are implementing reforms to strengthen the vitality and competitiveness of our financial markets. Fund-raising is an important function of any IFC (international financial centre), and Hong Kong offers a full range of funding options, from angel investment to private equity to IPOs. We continue to review our listing regime, enhance product offerings and attract more quality issuers and new capital. The goal is clear: to create a more dynamic and attractive capital market that provides diversified opportunities for investors.
Another key area is asset and wealth management. Hong Kong remains one of the world’s prime wealth management centres, managing approximately US$4 trillion in assets. The number of family offices in our city has gone beyond 2 700, with half of them managing assets exceeding US$50 million. By 2028, Hong Kong is anticipated to become the world’s largest cross-boundary wealth management centre. This year, we seek to further enhance the tax concessions for funds and single family offices.
And insurance, too. Hong Kong has the highest insurance density in Asia. The gross premiums of insurers continue to grow, rising by 12 per cent and reaching US$62 billion in the first three quarters last year. What’s more, the Greater Bay Area offers tremendous business opportunities for insurers operating in Hong Kong.
New Markets and New Capital
Second, we are also opening up new markets and new capital channels. Many economies in the Global South have young populations, expanding middle classes and growing investment needs for ambitious infrastructure projects, digitalisation and green transition plans. While Hong Kong continues to treasure and reinforce the relationship with traditional partners in Europe and the Americas, we are forging closer partnerships with emerging economies.
For example, last October we listed two ETFs (exchange-traded funds) tracking Hong Kong stocks on the Saudi Arabia Stock Exchange. We are collaborating with stock exchanges across ASEAN (Association of Southeast Asian Nations) and the Gulf Region to encourage more quality companies to pursue dual primary or secondary listing in this city.
We believe there is also room to work with emerging economies on more cross-boundary, market connectivity arrangements akin to the Connect Schemes that we have established with the Mainland.
The collaboration between Hong Kong and new markets extends well beyond finance. The tech prowess of Hong Kong and the GBA (Guangdong-Hong Kong-Macao Greater Bay Area) as a whole as well as startups are highly valued around the world. We endeavour to connect them with partners in the emerging economies to foster industry partnership.
To support the matching of capital and projects, we will host the inaugural Hong Kong Global Financial and Industry Summit in June. The event will bring together hundreds of global enterprises, tech firms and funds to drive industrial collaboration through financial empowerment.
And we are strategically placed to help Mainland companies go global. Many Mainland enterprises are realigning their industrial and supply chains across the Global South. They need project and trade financing, corporate treasury services as well as professional consultancy. Hong Kong is ready to offer all that – from global capital and talent, world-class professional services to extensive international connections.
Tech innovation driven by AI (artificial intelligence)
The third of our new economic impetus is innovation and technology, driven by AI in particular.
The rapid development of AI is reshaping the global economic landscape. AI+, which emphasises the deep integration of AI across different industries, is transforming traditional production, businesses and consumption models, very much redefining the core competitiveness of economies worldwide.
In the Government’s Budget delivered a few weeks ago, I outlined the vision for Hong Kong to establish AI as a core industry and to empower the transformation of traditional sectors. Hong Kong has all it takes to thrive on this front.
A unique advantage of Hong Kong is that we serve as a convergence point of both Mainland and international data and talent. Coupled with strong research capabilities of five of our world’s leading universities, we have a strong foundation for cutting-edge AI research and applications. A case in point is the area of life science, where the integration of AI is particularly promising, as it enhances drug design, accelerates clinical trials, and improves patient outcomes through personalised medicine.
Hong Kong’s ambitions for innovation and technology are more hopeful with our deepening collaboration with the sister’s cities in the GBA, one of the world’s leading innovation ecosystems. The Northern Metropolis, bordering Shenzhen, will serve as the bridgehead for this collaboration. Home to a 300-hectare I&T cluster, it covers the “Loop”, or “Hetao”, where we will experiment with innovative policies that facilitate the safe and orderly flow of people, capital, goods, data and even bio samples with Shenzhen.
To realise these ambitions, we are actively attracting strategic enterprises in four industries to set foot in Hong Kong. They are AI and data science, life and health technology, fintech, advanced manufacturing and new energy. So far we have attracted more than 80 such enterprises, and together they would invest some US$60 billion in our city, creating some 20 000 jobs.
We also recognise the importance of patient capital. That is why we have established the Hong Kong Investment Corporation (HKIC), which actively guides strategic investments into companies in key sectors at their nascent stage. The HKIC has already invested in more than 90 projects and formed a number of strategic partnerships. For every dollar it invested, it has mobilised four dollars of private capital. Riding on this positive momentum, we are optimistic that Hong Kong will be able to achieve more advancements in the realms of innovation and technology.
Concluding remarks
Ladies and gentlemen, Hong Kong remains one of the world’s most open, dynamic and globally connected financial centres. Our strong fundamentals, resilient economy, unique role as a gateway to the Chinese Mainland and Asia, as well as our great stride to develop financial services and the tech sector, continue to provide unparalleled opportunities for global investors.
May I wish you all the best of business and health in the years to come. Thank you.
Survival in today’s battlespace is not about being fittest, but about those who adapt, transform, and position themselves & seize emerging opportunities: CDS Gen Anil Chauhan
Source: Government of India
Posted On: 24 MAR 2025 8:05PM by PIB Delhi
“Survival in today’s battlespace is not about being the fittest, but about those who adapt, transform, and position themselves and seize emerging opportunities.”, said Chief of Defence Staff (CDS) General Anil Chauhan at the College of Defence Management (CDM), Secunderabad. He was addressing future strategic leaders undergoing Higher Defence Management Course HDMC-20 on the challenges of navigating the complex security landscape of the 21st century.
In his address, Gen Anil Chauhan highlighted the importance of adaptability, resilience and visionary leadership amidst rapidly shifting global power dynamics, non-traditional threats and technological advancements, characterised by fast paced AI disruptions, to address contemporary and emerging security challenges effectively. The CDS impressed upon the need for a whole of nation approach towards synergetic response and underscored the role of Indian Armed Forces in shaping the country’s national security strategy.
The CDS, in his talk on National Security Architecture and Change Management in the Year of Defence Reforms, gave a deep insight into the functioning of the Department of Military affairs (DMA) and the transformative drive towards fostering jointness, integration and synergy in the armed forces. He provided a nuanced perspective of the roadmap for year of transformation marked by articulation of Vision 2047 for the armed forces, joint doctrines, defence & military policies along with efforts towards finalisation of Integrated Capability Development Plan, while elaborating upon the Atmanirbharta initiatives undertaken by the DMA.
During the visit, General Chauhan engaged with faculty members and course participants, including officers from friendly foreign countries, sharing his insights on the importance of fostering innovation, experimentation and collaboration within the defence establishment to stay ahead in an evolving strategic environment. The visit of CDS to CDM is a testament to the institution’s commitment to excellence in defence management education and its role in shaping the future of India’s National Security.
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SR/Anand
(Release ID: 2114581) Visitor Counter : 530
Make in India Powers Defence Growth
Source: Government of India
Make in India Powers Defence Growth
Production hit ₹1.27 lakh crore in FY 2023-24, Exports cross ₹21,000 crore
Posted On: 24 MAR 2025 7:19PM by PIB Delhi
Summary
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India’s defence production reached ₹1.27 lakh crore in FY 2023-24, marking a 174% rise since 2014-15, driven by the Make in India initiative. Defence exports hit a record ₹21,083 crore in FY 2023-24, expanding 30 times in a decade, with exports to 100+ countries. Initiatives like iDEX and SAMARTHYA are driving technological advancements in AI, cyber warfare, and indigenous weapon systems. 14,000+ items indigenised under SRIJAN and 3,000 under Positive Indigenisation Lists. India aims for ₹3 lakh crore in production, ₹50,000 crore in exports by 2029. |
Summary
Introduction
India’s defence production has grown at an extraordinary pace since the launch of the “Make in India” initiative, reaching a record ₹1.27 lakh crore in FY 2023-24. Once dependent on foreign suppliers, the country now stands as a rising force in indigenous manufacturing, shaping its military strength through homegrown capabilities. This shift reflects a strong commitment to self-reliance, ensuring that India not only meets its security needs but also builds a robust defence industry that contributes to economic growth.
Strategic policies have fuelled this momentum, encouraging private participation, technological innovation, and the development of advanced military platforms. The surge in the defence budget, from ₹2.53 lakh crore in 2013-14 to ₹6.81 lakh crore in 2025-26, underlines the nation’s determination to strengthen its military infrastructure.
This commitment to self-reliance and modernisation is reflected in the recent approval by the Cabinet Committee on Security (CCS) for the procurement of the Advanced Towed Artillery Gun System (ATAGS), a significant step in enhancing the Army’s firepower. The deal includes 307 units of 155mm/52 caliber guns along with 327 High Mobility 6×6 Gun Towing Vehicles, equipping 15 Artillery Regiments under the Buy Indian–Indigenously Designed, Developed, and Manufactured (IDDM) category, at an estimated cost of ₹7,000 crore. Developed by DRDO with Bharat Forge and Tata Advanced Systems, ATAGS is a cutting-edge artillery system with a 40+ km range, advanced fire control, precision targeting, automated loading, and recoil management, thoroughly tested by the Indian Army in all terrains.
With modern warships, fighter jets, artillery systems, and cutting-edge weaponry being built within the country, India is now a key player in the global defence manufacturing landscape.
Surge in Indigenous Defence Production
India has achieved the highest-ever growth in indigenous defence production in value terms during Financial Year (FY) 2023-24, driven by the successful implementation of government policies and initiatives led by Prime Minister Shri Narendra Modi, focusing on attaining Atmanirbharta. The value of defence production has surged to a record high of ₹1,27,265 crore, marking an impressive 174% increase from ₹46,429 crore in 2014-15, according to data from all Defence Public Sector Undertakings (DPSUs), other public sector units manufacturing defence items, and private companies.
This growth has been bolstered by the Make in India initiative, which has enabled the development of advanced military platforms including the Dhanush Artillery Gun System, Advanced Towed Artillery Gun System (ATAGS), Main Battle Tank (MBT) Arjun, Light Specialist Vehicles, High Mobility Vehicles, Light Combat Aircraft (LCA) Tejas, Advanced Light Helicopter (ALH), Light Utility Helicopter (LUH), Akash Missile System, Weapon Locating Radar, 3D Tactical Control Radar, and Software Defined Radio (SDR), as well as naval assets like destroyers, indigenous aircraft carriers, submarines, frigates, corvettes, fast patrol vessels, fast attack craft, and offshore patrol vessels.
Key points:
- 65% of defence equipment is now manufactured domestically, a significant shift from the earlier 65-70% import dependency, showcasing India’s self-reliance in defence.
- A robust defence industrial base includes 16 DPSUs, over 430 licensed companies, and approximately 16,000 MSMEs, strengthening indigenous production capabilities.
- The private sector plays a crucial role, contributing 21% to total defence production, fostering innovation and efficiency.
- India targets ₹3 lakh crore in defence production by 2029, reinforcing its position as a global defence manufacturing hub.
Unprecedented Growth in Defence Exports
India’s expanding global footprint in defence manufacturing is a direct result of its commitment to self-reliance and strategic policy interventions. Defence exports have surged from ₹686 crore in FY 2013-14 to an all-time high of ₹21,083 crore in FY 2023-24, marking a 30-fold increase over the past decade.
Key points:
- Defence exports have grown 21 times, from ₹4,312 crore in the 2004-14 decade to ₹88,319 crore in the 2014-24 decade, highlighting India’s expanding role in the global defence sector.
- Defence exports surged by 32.5% year-on-year, rising from ₹15,920 crore in FY 2022-23 to ₹21,083 crore in FY 2023-24.
- India’s diverse export portfolio includes bulletproof jackets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes.
- Notably, ‘Made in Bihar’ boots are now part of the Russian Army’s gear, highlighting India’s high manufacturing standards.
- India now exports defence equipment to over 100 countries, with the USA, France, and Armenia emerging as the top buyers in 2023-24.
- The government aims to achieve ₹50,000 crore in defence exports by 2029, reinforcing India’s role as a global defence manufacturing hub while boosting economic growth.
Innovations for Defence Excellence (iDEX)
Launched in April 2018, Innovations for Defence Excellence (iDEX) has created a thriving ecosystem for innovation and technology development in defence and aerospace. By engaging MSMEs, startups, individual innovators, R&D institutes, and academia, iDEX has provided grants of up to ₹1.5 crore for developing innovative technologies. To further enhance self-reliance in defence technology, ₹449.62 crore has been allocated to iDEX, including its sub-scheme Acing Development of Innovative Technologies with iDEX (ADITI), for 2025-26. As of February 2025, 549 problem statements have been opened, involving 619 startups and MSMEs, with 430 iDEX contracts signed.
The scheme has three key objectives:
- Facilitate rapid development of new, indigenised, and innovative technologies for the Indian Defence and Aerospace sector, to meet their needs in a shorter time span.
- Create a culture of engagement with innovative startups, to encourage co-creation for Defence and Aerospace sectors.
- Empower a culture of technology co-creation and co-innovation within the Defence and Aerospace sectors.
The recently launched ADITI scheme aims to support critical and strategic technologies such as satellite communication, advanced cyber technology, autonomous weapons, semiconductors, artificial intelligence, quantum technology, nuclear technologies, and underwater surveillance. Under this scheme, grants of up to ₹25 crore are provided to innovators.
Reinforcing its commitment to supporting startups and MSMEs, the Ministry of Defence has also cleared procurement of 43 items worth over ₹2,400 crore from iDEX startups and MSMEs for the Armed Forces as of February 2025. Additionally, projects worth over ₹1,500 crore have been approved for development.
SAMARTHYA: Showcasing India’s Defence Indigenisation
The success story of indigenisation and innovation in the defence sector was highlighted at the Aero India 2025 event ‘SAMARTHYA’, which showcased India’s progress in defence manufacturing. The event featured 33 major indigenised items, including 24 developed by Defence Public Sector Undertakings (DPSUs), the Defence Research and Development Organisation (DRDO), and the Indian Navy, along with nine successful innovation projects from iDEX.
Among the key indigenised items displayed were:
- Electro Block of the Anti-Aircraft Machine Gun
- Electric Mobile Part for Submarines
- Torsion Bar Suspension for HMV 6×6
- Extruded Aluminium Alloy for LCA MK-I/II and LCH Components
- Indian High-Temperature Alloy (IHTA)
- VPX-135 Single Board Computer
- Naval Anti-Ship Missile (Short Range)
- RudraM II Missile
- C4ISR System
- DIFM R118 Electronic Warfare Systems
The event further highlighted breakthroughs in AI-driven analytical platforms, next-generation surveillance systems, quantum-secure communication technologies, and counter-drone measures. Innovations like the 4G/LTE TAC-LAN, Quantum Key Distribution (QKD) system, Smart Compressed Breathing Apparatus, and Advanced Autonomous Systems for the Armed Forces reflect India’s evolving defence landscape.
Efforts are ongoing to bridge the gap between the Indian Army’s operational challenges and the innovative solutions developed by academia, industry startups, and research institutions. Additionally, the focus remains on conducting multi-domain operations in a data-centric environment, especially in light of emerging transformative technologies.
SAMARTHYA stands as a testament to India’s commitment to self-reliance in defence technology, reinforcing its ability to develop advanced, home-grown solutions for national security.
Advancing Self-Reliance
India’s pursuit of self-reliance in defence manufacturing has significantly reduced its dependence on foreign suppliers. Through strategic policies and indigenous innovation, the country is developing cutting-edge military platforms, strengthening both national security and economic growth.
Self-Reliant Initiatives through Joint Action (SRIJAN)
- Launched by the Department of Defence Production (DDP) in August 2020 to promote indigenisation under Atmanirbhar Bharat.
- Serves as a common platform for Defence Public Sector Undertakings (DPSUs) and the Armed Forces (SHQs) to list imported items for domestic manufacturing.
- As of February 2025, over 38,000 items are available, with more than 14,000 successfully indigenised.
Positive Indigenisation Lists (PILs)
- The Department of Defence Production (DDP) and the Department of Military Affairs (DMA) have issued five Positive Indigenisation Lists (PILs) for LRUs, assemblies, sub-assemblies, sub-systems, spares, components, and high-end materials.
- These lists set fixed timelines beyond which procurement will be restricted to domestic manufacturers.
- Out of over 5,500 items listed, more than 3,000 have been indigenised as of February 2025.
- Key indigenised technologies include artillery guns, assault rifles, corvettes, sonar systems, transport aircraft, light combat helicopters (LCHs), radars, wheeled armoured platforms, rockets, bombs, armoured command post vehicles, and armoured dozers.
Defence Industrial Corridors
- Two Defence Industrial Corridors (DICs) have been set up in Uttar Pradesh and Tamil Nadu to boost defence manufacturing. These corridors provide incentives to companies investing in the sector.
- Investments worth more than Rs 8,658 crore have already been made in the 6 nodes of UP viz. Agra, Aligarh, Chitrakoot, Jhansi, Kanpur and Lucknow and 5 nodes of Tamil Nadu viz. Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli.
- As of February 2025, 253 MoUs have been signed, with a potential investment of ₹53,439 crore.
Ease of Doing Business (EoDB)
- The government has introduced several measures to improve ease of doing business in the defence manufacturing sector.
- The validity of export authorisation for parts and components has been extended from two years to the completion of the order or component, whichever is later.
- In 2019, the Defence Product List was streamlined to reduce the number of items requiring a manufacturing licence.
- Parts and components of defence items were de-licensed in September 2019 to encourage investment.
- The validity of defence licences under the Industries (Development and Regulation) Act, 1951, has been extended from three years to 15 years, with a further extension option of up to 18 years.
- Over 700 industrial licences have been issued to 436 companies in the defence sector.
- The introduction of an end-to-end digital export authorisation system has improved efficiency, with more than 1,500 authorisations issued in the last financial year.
MAKE Projects: Driving Indigenous Defence Innovation
The MAKE procedure was first introduced in the Defence Procurement Procedure (DPP-2006) to promote indigenous design and development in the defence sector. Over the years, it has been simplified and streamlined through revisions in 2016, 2018, and 2020, ensuring faster development of defence equipment, systems, and components by both public and private industries.
MAKE projects have been divided into three categories:
MAKE-I (Government Funded)
- Up to 70% government funding for prototype development (capped at ₹250 crore per Development Agency).
- Minimum 50% Indigenous Content (IC) required.
MAKE-II (Industry Funded)
- Focuses on import substitution, encouraging domestic industries to develop critical defence systems.
- No government funding, with a minimum 50% Indigenous Content (IC) requirement.
MAKE-III (Manufactured in India through Transfer of Technology – ToT)
- Involves manufacturing in India under Technology Transfer (ToT) from Foreign OEMs.
- No design and development but require a minimum of 60% Indigenous Content (IC).
Key points:
- As of March 24, 2025, a total of 145 projects have been undertaken under the MAKE initiative, with the participation of 171 industries, driving indigenous defence production.
- The initiative includes 40 MAKE-I projects (Government Funded), 101 MAKE-II projects (Industry Funded), and 4 MAKE-III projects (Manufacturing through ToT), strengthening self-reliance in defence manufacturing.
Other Key Initiatives
In recent years, the Indian government has implemented a series of transformative initiatives aimed at bolstering the country’s defence production capabilities and achieving self-reliance. These measures are designed to attract investment, enhance domestic manufacturing, and streamline procurement processes. From liberalizing foreign direct investment (FDI) limits to prioritizing indigenous production, these initiatives reflect a robust commitment to strengthening India’s defence industrial base. The following points outline the key government initiatives that have been pivotal in driving growth and innovation in the defence sector.
- Liberalized FDI Policy: Foreign Direct Investment (FDI) in the defence sector was liberalised in September 2020 to attract foreign investment, allowing up to 74% FDI through the automatic route and above 74% through the government route. Since April 2000, the total FDI in defence industries stands at $21.74 million.
- TATA Aircraft Complex: Tata Aircraft Complex was inaugurated in Vadodara in October 2024 to manufacture C-295 aircraft, boosting Atmanirbharta in defence with 40 made-in-India aircraft out of 56 under the programme.
- Manthan: The annual defence innovation event, Manthan, held during Aero India 2025 in Bengaluru, brought together leading innovators, startups, MSMEs, academia, investors, and industry leaders from the defence and aerospace sectors, reaffirming confidence in the government’s commitment to technological advancements and Aatmanirbhar Bharat.
- Defence Testing Infrastructure Scheme (DTIS): DTIS aims to boost indigenisation by providing financial assistance for setting up eight Greenfield testing and certification facilities in the aerospace and defence sector, with seven test facilities already approved in areas like unmanned aerial systems, electronic warfare, electro-optics, and communications.
- Priority for Domestic Procurement: Emphasis is placed on procuring capital items from domestic sources under the Defence Acquisition Procedure (DAP)-2020.
- Domestic Procurement Allocation: MoD has earmarked 75% of modernisation budget amounting to Rs 1,11,544 crore for procurement through domestic industries during the current Financial Year.
Conclusion
India’s remarkable strides in defence production and exports underscore its transformation into a self-reliant and globally competitive military manufacturing hub. The combination of strategic policy interventions, increased domestic participation, and a focus on indigenous innovation has significantly strengthened the country’s defence capabilities. The surge in production, the exponential rise in exports, and the success of initiatives like the Make in India reflect India’s commitment to achieving Atmanirbharta in defence. With ambitious targets set for 2029, the nation is poised to further expand its global footprint, reinforcing its position as a dependable partner in the international defence market while enhancing national security and economic growth.
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Santosh Kumar/ Sarla Meena/ Saurabh Kalia
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Ministry of Economic Affairs Announced 2024 Energy Saving Leadership Awards: 40 Winners Reduced Carbon Emissions by 116,000 Tons, Achieving Remarkable Results
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To recognize outstanding enterprises promoting energy conservation and schools excelling in energy education, Ministry of Economic Affairs (MOEA) held the final review meeting for the “2024 Energy Saving Leadership Award and Energy Education Promotion Award” on October 11. A total of 40 winners were selected, collectively saving 29 thousand kiloliters of oil equivalent and 570 million TWD in energy costs, which equalled to reducing carbon dioxide emissions by 116 thousand tons, or the annual carbon absorption of 300 Da’an Forest Park, demonstrating exceptional energy-saving achievements.
According to Energy Administration (EA), this year’s Energy Saving Leadership Award received applications from 111 enterprises and 25 primary and secondary schools. After preliminary and final selections, 20 benchmark enterprises and 20 energy education benchmark schools were chosen. The EA will organize a series of follow-up activities, including site visit and online case sharing, for all sectors to learn from the winners.
Highlighting the trend of smart energy management, the EA noted that many benchmark enterprises are utilizing AI and data analytics to implement the smart transition from monitoring to control, effectively saving energy consumption of facilities and further improving manufacturing process. For example, the Gold award-winning Rolling Mill Department III of China Steel Corporation promoted AI smart factory, and significantly optimized furnance efficiency by developing an AI-based “intelligent combustion monitoring system” to replace traditional manual measurements, setting a benchmark for smart management and energy conservation.
Another Gold award recipient, ASE (Advanced Semiconductor Engineering) Kaohsiung Building K5, developed AI-based control technology for chiller systems, optimizing operational temperatures and enhancing energy efficiency in production. The energy-saving experience has been successfully duplicated across other facilities. The plant has also established a Low-Carbon Supply Alliance, focusing on carbon reduction, energy management, and emission control, and promoted plant-wide energy-saving and low-carbon operations through coordination of facility management and manufacturing processes.
In the SME category, the Gold award went to Lung Shing Refrigerating Works Co., for creating an “Unmanned Intelligent Cold Chain Logistics Center,” which integrates automated storage and smart management for precise inventory control, significantly reducing labor and energy waste. Lung Shing tackles the issue from the source, and has become an example for all SEMs. Another Golde award-winner, Linkou Chang Gung Memorial Hospital, implemented liquid oxygen cooling recovery technology to create cost-free air conditioning. The hospital optimized HVAC systems for operating rooms during off-peak hours, and utilized Low-E glass for better insulation, reducing air conditioning loads. Their diverse energy-saving measures offer a valuable reference of retrofitting for other medical facilities.
In the category of energy education, the award-winning schools in each district showcased unique features. For example: Shui Yuan Primary School in Hsinchu City integrated VR experiences and board games to deepen students’ knowledge of energy and sustainability while encouraging community members to replace energy-inefficient appliances; Wong-Zih Elementary School in Taichung City established a STEAM Energy Research Center, fostering independent thinking through energy exploration and digital learning resources, including energy advocacy videos; Tainan Municipal Xigang Junior High School developed a “Cross-Reading Energy” curriculum featuring energy-themed discussions and game-based learning to promote awareness and actions for energy conservation; National Dong Hwa University Experimental Primary School integrated local resources to create the “Hualien Power Map,” inspiring students to explore energy issues and collaborating with neighboring schools in shaping local characteristics, so to expand energy education’s influences.
The Energy Saving Leadership Award aims to share energy-saving experience to inspire more organizations to take action. Through upcoming demonstrations and learning activities, the program seeks to broaden participation and foster a collective movement toward a sustainable and net-zero future.
Spokesperson: Deputy Director General, Chun-Li Lee
Energy Administration, Ministry of Economic Affairs
Telephone:02-2775-7700
Mobile:0936-250-838
Email:chunlee@moeaea.gov.tw
Business Contact: Director, Shu-Fang Kao
Telephone:02-2775-7773
Mobile:0918-400-668
Email:sfkao@moeaea.gov.tw
AI Drives New Digital Trade: The MOEA Helps Firms with Transformation
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To help small and medium enterprises (SMEs) in Taiwan leverage digital technology to explore international markets, the International Trade Administration (TITA) under the Ministry of Economic Affairs (MOEA) held a conference on the achievements of the “New Digital Trade Model Program” on November 12, 2024. The event featured the launching of the newly developed AiEZ TRADE and included the sharing of experiences by digital consultants and mentored enterprises. Over 100 companies participated.
At the event, Director General Cynthia Kiang of TITA announced the launching of AiEZ TRADE. She noted that AiEZ TRADE integrates global trade data by using AI technology to provide businesses with diverse services, such as analysis of trade data, recommendations about events and exhibitions, creation of marketing webpages, and recommendations about buyers. Companies only need to input their business registration number to access tailored business insights through AI analysis of vast data bytes, enabling them to quickly grasp the latest global industry and product trends.
Given the global trend of market digitalization, Taiwanese SMEs face increasing pressure of international competition. To address this, TITA offers digital capability assessments and consulting services through this program, thereby helping SMEs identify their digital strengths and weaknesses in overseas marketing. To date, this program has supported over 1,300 companies and enhanced their ability to expand into global markets.
SMEs can access the AiEZ TRADE webpage at (https://www.aieztrade.com/) to directly experience its features. TITA will continue to track the latest developments in digital technology to assist more SMEs in utilizing these tools to vie for international opportunities.