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    • Russia has successfully tested Tsirkon missile a new Hypersoic anti-ship cruise missile

      MOSCOW: Russia on Wednesday said it had successfully tested a new hypersonic anti-ship cruise missile in a move hailed by President Vladimir Putin as a "great event" for the country. The military said that the Tsirkon missile was fired from the Admiral Gorshkov frigate in the White Sea on Tuesday morning in the Russian Arctic and successfully hit its target. Valery Gerasimov, chief of the Russian military's General Staff, told Putin -- who turned 68 on Wednesday -- that it was  .. The military said that the Tsirkon missile was fired from the Admiral Gorshkov frigate in the White Sea on Tuesday morning in the Russian Arctic and successfully hit its target. Valery Gerasimov, chief of the Russian military's General Staff, told Putin – who turned 68 on Wednesday – that it was the first time the missile had successfully struck a target at sea. "The tasks of the launch were carried out. The test-fire was successful," he told Putin. Gerasimov said the missile hit its target 450 kilometers away in the Barents Sea and hit a Mach 8 speed – eight times the speed of sound. Russia has in the last years touted the development of futuristic new weapons, which it hopes will give it the edge in any arms race with the United States at a time of growing tensions with the West. Putin said that the test-firing of Tsirkon was a "great event not just in the life of our armed forces but for all of Russia." He said such weapons, which Putin claimed have no equivalent worldwide, "will without a doubt in the long term boost the defense capabilities of our state." The defense ministry said that the plan was to equip both warships and submarines with the Tsirkon. Putin had revealed the development of the new weapon in a state of the nation address in February 2019, saying it could hit targets at sea and on land with a range of 1,000 kilometers and a speed of Mach 9. Russia boasts of developing a number of "invincible" weapons that surpass existing systems and include Sarmat intercontinental missiles and Burevestnik cruise missiles. The first Avangard hypersonic missiles were put into service in December last year. The program is not without risks and seven people were killed in an explosion at a missile test site in August 2019. Western experts linked the blast to work on the Burevestnik. subscribe our website for more updates... follow us on instagram- https://www.instagram.com/truthoverloadcom/ follow us on facebook- https://www.facebook.com/truthoverload/ follow us on twitter- https://twitter.com/truthoverload_/

    • Tesla Inc. co-founder and chief executive Elon Musk plans india entry in 2021

      Tesla Inc. co-founder and chief executive Elon Musk on Friday said that the California-based electric vehicle (EV) and clean energy company will enter the Indian market in next year 2021. “Next year for sure," Musk said while replying to a query on Tesla’s India plans on Twitter. He did not elaborate. While the serial entrepreneur and multi-billionaire had earlier criticized India’s restrictive taxes on vehicle imports, this is not the first time he has shown interest in setting foot in the subcontinent. Last year, Musk had tweeted that high duties on vehicles imported as completely built units (CBUs) in India hindered the company’s entry in this market. Low per capita income and lack of infrastructure for EVs also influenced the company’s decision. “I am told duties are extremely high in India (up to 100%) even for electric cars. This would make our cars unaffordable," Musk tweeted last year. This followed Musk’s tweet in 2017 wherein he said: “In discussions with the government of India requesting temporary relief on import penalties/restrictions until a local factory is built." EVs imported as CBUs currently attract a 40% duty, while it is 30% for those imported as semi-knocked down units (SKDs) and 15% for completely knocked down units (CKDs). Also, in a bid to attract foreign investments in EV technology, the goods and services tax (GST) on such vehicles has been cut to 5% from 12% earlier. Developing India as a global hub for EVs is one of the prime agendas for the government led by Prime Minister Narendra Modi. Five years ago, Modi had undertaken a tour of Tesla’s factory in Fremont, California. Some industry executives said that Tesla’s foray into India could be in the form of a captive research & development (R&D) unit instead of selling electric cars as CBUs or setting up an assembly unit for EVs. This could range from setting up a captive centre for the development of software modules on automotive electronics to some early discussions with the government on battery or energy storage areas. Several global automobile and auto parts makers such as Mercedes-Benz, Ford Motor, Bosch and Continental have development centres in India. “Tesla could be looking at India for setting up a captive R&D centre where it could reap benefits of local competencies around software development and coding related work on global programmes, CAE and CAD simulations, modules for autonomous driving among others," said Suraj Ghosh, principal analyst, powertrain forecast, IHS Markit. Tesla is in talks with the Karnataka government to build an R&D centre in Bengaluru. NITI Aayog, the Union government’s policy think tank, is working with various ministries to develop India’s own EV battery manufacturing ecosystem, including Giga factories for lithium-ion batteries. The government is also working on a separate scheme to promote manufacturing and exports of lithium-ion cells from India. Meanwhile, the central government had last year earmarked ₹10,000 crore to encourage the development, manufacturing and adoption of EVs through the second phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. subscribe our website for more updates... follow us on instagram- https://www.instagram.com/truthoverloadcom/ follow us on facebook- https://www.facebook.com/truthoverload/ follow us on twitter- https://twitter.com/truthoverload_/

    • US commits $1.9 mn to india to support workers whose livelihoods has been disrupted due to COVID

      The US has committed $1.9 million to support vulnerable populations like informal sector workers whose livelihoods have been disrupted due to Covid-19. The financial assistance from US Agency for International Development (USAID), extended generously by the American people to partners in India, will support efforts to rebuild local economies and improve the livelihoods of Indians who have been hit hardest by this pandemic, US Ambassador to India Kenneth I Juster said. Highlighting the need to provide financial assistance to the people affected by the disruption caused by COVID-19, Juster said the global pandemic has severely affected those who are vulnerable and less fortunate, thereby increasing the economic challenges these groups face. USAID funds will support the Revive alliance, founded by the Samhita-Collective Good Foundation and co-funded by the Michael and Susan Dell Foundation, Omidyar Network India, and the Ford Foundation, to address challenges caused by unemployment and income gaps faced by workers in the informal economy, the US embassy said in a statement. Revive will launch a USD 6.85 million blended finance facility in its first phase to provide accessible and affordable capital in the form of returnable grants or loans to self-employed workers and at-risk nano and micro enterprises to either sustain their work or find alternative business opportunities, it said. The facility is expected to reach between 60,000-100,000 workers and enterprises and will give preference to youth and women. Revive will also undertake upskilling activities for laid-off youth and informal labourers, the statement said. Samhita-Collective Good Foundation will initiate shared-value partnerships with a range of stakeholders, including business chambers, non-banking financial companies, private enterprises, and others. USAID support will further deepen Revive's work by augmenting its secretariat strengthening strategic partnerships and offering technical assistance to partners, it added. subscribe our website for more updates... follow us on instagram- https://www.instagram.com/truthoverloadcom/ follow us on facebook- https://www.facebook.com/truthoverload/ follow us on twitter- https://twitter.com/truthoverload_/

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