Prøve GULL - Gratis

Trick or retreat

Business Standard

|

March 08, 2025

Itis fashionable to curse Rajiv for Bofors and more, but the truth is that1985-89 was the only period in our history when weapon acquisitions were proactive and futuristic

- SHEKHAR GUPTA

Trick or retreat

This begins with a spoiler alert-if you promise not to read the postscript first. In this column, I play a trick on you.

After ages, India has a chief who speaks the hard truth. Air Chief Marshal A P Singh has persistently and firmly drawn attention to the Indian Air Force's alarming numbers and technology gap with its rivals. He even held up the mirror to the holiest of the holy among our PSU monopolies, HAL, on cameras and microphones. This is refreshing when you're used to hearing from a succession of chiefs self-pitying platitudes like: "We will fight with what we have." The reaction to the Air Chief breaking the silence barrier is predictable. Anybody pointing to what the armed forces are short of is instinctively accused of being import-hungry or sold out.

The insinuation: An evil cabal is preventing India from developing its own capabilities and keeping it dependent on expensive, unaffordable imports. Defence has also become an "influencer" pursuit and even the chiefs are wary.

Then, Donald Trump throws the F-35 fat into this fire. This all-pervasive fear makes defence purchases nearly impossible. Too little is made in India yet, and even when it is, most of it is in tight joint ventures. Much as we boast about rising levels of "indigenisation" (why don't we say Indian?), ask yourself this: After making over 200 Sukhoi 30-MKIs and countless Jaguars NATIONAL or even MiGs, can we build one entirely on our own even now? SHEKHAR GUPT We won't reverse-engineer like cheapskate Chinese, you see.

FLERE HISTORIER FRA Business Standard

Business Standard

PM calls for democratisation of AI

Says India should be among the top three AI superpowers, not just in consumption, but in creation as well

time to read

4 mins

February 18, 2026

Business Standard

Inside Indian boardrooms

Boards sit at the heart of corporate governance, entrusted with guiding strategy, ensuring leadership continuity, and exercising vigilant oversight while balancing the interests of diverse stakeholders.

time to read

3 mins

February 18, 2026

Business Standard

Govt plans to switch ₹25K cr bonds via auction

The government plans to conduct a ₹25,000 crore switch auction of dated securities to smoothen its redemption profile and ease supply pressure in the bond market, the Reserve Bank of India said in a release on Tuesday.

time to read

2 mins

February 18, 2026

Business Standard

Business Standard

US civil rights champion, Prez candidate dies

Jesse Jackson, one of the most prominent US civil rights leaders of the 20th century who ran credible campaigns for the White House two decades before America elected its first Black president, has died.

time to read

3 mins

February 18, 2026

Business Standard

People may not need jobs by 2050: Khosla

Indian-American entrepreneur and venture capitalist Vinod Khosla on Tuesday made a bold prediction that by 2050 people may not need jobs as artificial intelligence makes rapid gains.

time to read

1 min

February 18, 2026

Business Standard

Young Indians consider gold safest investment bet: Report

Most young Indians consider gold to be the safest investment but they make decisions to buy the metal independently rather than under family influence, said a report by Smytten PulseAI.

time to read

1 min

February 18, 2026

Business Standard

THE COMPASS Higher capex may increase debt burden for Hindalco

The Q3 results of Hindalco Industries (Hindalco) met consensus estimates.

time to read

3 mins

February 18, 2026

Business Standard

Business Standard

L&T’s growth engine fires on order impetus

Pipeline strength lifts medium-term confidence

time to read

2 mins

February 18, 2026

Business Standard

Business Standard

NBFCs put AI to work across lending chain

Leading non-banking financial companies (NBFCs) are increasingly deploying artificial intelligence (AI) across the lending value chain — from customer acquisition and underwriting to servicing and collections — to drive growth and improve cost efficiencies.

time to read

2 mins

February 18, 2026

Business Standard

IBBI proposes stronger mechanisms for CoC

The Insolvency and Bankruptcy Board of India (IBBI) has in a discussion paper suggested that the committee of creditors (CoC) record its deliberations on the expected recovery for creditors in comparison with the fair value and liquidation value.

time to read

2 mins

February 18, 2026

Listen

Translate

Share

-
+

Change font size