India, Philippines ink pact for supply of Brahmos missiles

05 Mar 2021 CW Team

India and the Philippines have signed an agreement for deals on military hardware, including the potential supply of Brahmos cruise missiles.

The Department of National Defence of the Philippines announced the signing of the "implementing arrangement" for the procurement of defence materials and equipment.

Last year, in November, the media had reported that India and the Philippines are looking to ink a pact on the Brahmos cruise missile, making the Southeast Asian country the first customer for the weapons system developed jointly by India and Russia.

The actual agreement on the missiles is expected to be inked during a meeting of the two countries later this year.

Russian officials told the media that India and Russia are working to gradually increase the range of the Brahmos missile system and begin exporting the missile to other countries, starting with the Philippines.

The Philippines army closed in on the Brahmos deal after extensive trials, and much of the negotiations have revolved around the cost of the system and financing for the deal. India has offered a $100 million line of credit (LoC) to the Philippines for defence purchases.

India has also been in talks with several Southeast Asian countries, including Indonesia, Vietnam and Thailand, over the past few years to sell the land and sea and land based versions of the Brahmos.

India's draft defence production policy of 2018 set a target of achieving defence exports worth $5 billion by 2025.

Image Source

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..