Business Today 14th January 2018 - Page 30

THE BUZZ INDIGENISATION IAF to order 83 Tejas aircraft In a push towards indigenisation of the defence industry, government- owned Hindustan Aeronautics Ltd has received a request for proposal for supplying 83 Light Combat Aircraft (LCA) Tejas to the Indian Air Force (IAF). Minister of State for Defence, Subhash Bhamre, said in a written re- ply in the Lok Sabha that the Defence Acquisition Council had cleared the acquisition of 83 LCAs. Under Scanner SURVEY AT BITCOIN EXCHANGES TRADE INDIAN EXPORTS TO CHINA RISE 53 PER CENT The income tax depart- ment has conducted 'surveys' at nine Bitcoin exchanges. Earlier, reports had suggested that some tax evaders might be parking illicit money in Bitcoin. Bitcoin exchange Coinsecure, which has off ices in Delhi and Bangalore, said: "Se- nior off icials conducted a survey across our Delhi and Bangalore off ices in an attempt to gauge and comprehend the state of Bitcoin in India...The broad sword of discussions was to understand Bitcoin and cryptocurrencies and their users." India's exports to China grew 53 per cent to $1.24 billion in October, according to data released by the customs. The trade deficit for the month stood at $3.86 billion. Despite the strains in bilateral ties, the India-China trade rose 13.56 per cent year-on-year to $6.33 billion. India has been pressing China to further open up its pharmaceutical and IT sectors to expand the base of Indian exports. QUOTE " These are early days and, hence, considerable caution & vigilance is warranted on the inflation front " RBI Governor Urjit Patel CLOUD COMPUTING ALIBABA MAKES A BET ON INDIA Alibaba Cloud plans to open a data centre in India in January in a challenge to Google, Microsoft and Amazon in India’s fast-growing cloud computing services space. The centre will be located in Mumbai and help the company tap SMEs.