Page 30 - IACC Newsletter March-April 2014 Issue 03

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Over the past four quarters, ecommerce companies cornered 72% of the $1.3 billion (Rs 7,700 crore) that went into
Indian technology companies across 266 deals, according to research firm CB Insights.
Copyright © 2013, Kasturi & Sons Ltd., Chennai All Rights Reserved.
US to sell 22 Harpoon missiles to India for $200 million
The US government plans to sell 22 anti-ship Harpoon missiles to India, at an estimated cost of $200 million, in a new initiative to
strengthen US-India strategic relationship.
US to sell 22 Harpoon missiles to India for $200 million. The US administration has notified the US Congress of its
decision to approve India's request for the missiles. The announcement coincides US senator McCain's meeting with
Indian Prime Minister Narendra Modi. During high-level talks with the prime minister, the US senator also conveyed the
keen desire in the United States to work with Prime Minister Modi to revitalize the India-US strategic partnership.
McCain is reported to have conveyed the high expectations in the United States about a new momentum in India`s
economic growth and all-round progress under the new government led by prime minister Narendra Modi. The
Pentagon's Defence Security Cooperation Agency, which handles foreign arms sales, said it had delivered the required
certification notifying Congress of this possible sale following approval of India's request by the state department.
India, it said, has requested a possible sale of 12 UGM-84L Harpoon Block II Encapsulated Missiles, 10 UTM-84L Harpoon
Encapsulated Training missiles, two Encapsulated Harpoon certification training vehicles, containers, spare and repair
parts. Besides, India has also sought support and test equipment, personnel training and training equipment,
publications and technical data, services of the US government and contractor engineering and logistics support services
and other related elements of logistics support.
The estimated cost of the whole package is $200 million. "This proposed sale will contribute to the foreign policy and
national security of the United States by helping to strengthen the US-India strategic relationship and to improve the
security of an important partner which continues to be an important force for political stability, peace, and economic
progress in South Asia," the Pentagon's arms sales agency said.
The Harpoon missile system will be employed on the Indian Navy's Shishumar class submarine (Type-209) to enhance
capabilities in defence of critical sea lines of communication. India has already purchased Harpoon missiles for
integration on Indian Air Force Jaguar aircraft and Indian Navy P-8I maritime patrol aircraft. India will have no difficulty
absorbing these additional missiles into its armed forces, the agency said. "This proposed sale of Harpoon missiles will
not alter the basic military balance in the region," and "there will be no adverse impact on US defence readiness as a
result of this proposed sale", it said.