BackNews in Numbers: Govt approves Rs15,935 crore plan to buy rifles, guns for military
Samsung's market share is 24.7% in India's smartphone market in 2017, according to IDC
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Rs15,935 crore
What is it? The total cost of proposals cleared by India’s Defence Acquisition Council to purchase assault rifles, sniper rifles, carbines and light machine guns on Tuesday.
Why is it important? This brings an end to a 11-year-wait by the armed forces, which had flagged the need for new guns. Indian soldiers have been using AK-47 and indigenous Indian Small Arms Systems rifles since 1988, and there has been an urgent need for arms upgradation, especially in border areas and for counter-insurgency operations. Having rejected a few indigenous weapons recently, India needs an overhaul of its defence planning and procurement system, with due consideration to local requirements and strategic interests.
Tell me more: The approvals include procurement of light machine guns through the fast-track procedure at an estimated cost of Rs1,819 crore, while 740,000 assault rifles will be ‘Made in India’ under the categorisation of ‘Buy and Make (Indian)’ at an estimated cost of Rs12,280 crore. Over 5,700 sniper rifles will be procured at a cost of Rs982 crore.
24.7%
What is it? Samsung’s market share in India’s smartphone market in 2017, according to International Data Corporation (IDC).
Why is it important? Samsung maintained its market leadership position when the entire year is taken into account. However, Samsung slipped to the second position in the last quarter of 2017, overtaken by China’s Xiaomi, which had a share of 26.8% compared to the former’s 24.2%. This report echoes the findings of other research firms such as Canalys and Counterpoint Research that said Xiaomi had ended Samsung’s dominance in the fourth quarter of 2017 to command the highest market share for the first time ever.
Tell me more: In the feature phone segment, Samsung had the highest market share of 20.5% in 2017, whereas in the last quarter of 2017, Reliance Jio pushed ahead of it to gain a share of 24.1% compared to the former’s 14.5%, according to IDC.
15 days
What is it? The number of additional days that Fortis Healthcare has sought to file its financial results for the second quarter and third quarter of 2017-18.
Why is it important? Yet another delay on this front turns the spotlight on financial dealings of the company with its promoters, Malvinder Singh and Shivinder Singh, who last week resigned from the board. Bloomberg last week also reported that Fortis could not declare its Q2 results within the stipulated 45-day period as its auditor refused to sign off on the results until about Rs 500 crore the promoters took out from the company without board approval was accounted for or returned.
Tell me more: In another filing with stock exchanges, Fortis said that credit rating agency ICRA had downgraded the rating of the company and four Fortis subsidiaries.
4-1
What is it? The results count in the ongoing one-day international bilateral series between India and South Africa.
Why is it important? On Tuesday, in the fifth of the six-match series at Port Elizabeth, India beat South Africa to win the series—its first in South Africa in five attempts, dating back to 1992-93. Before this, South Africa had only lost two ODI series of five matches or more at home, both to Australia. With this series win and the manner of it, India has conquered another overseas bastion and also bolstered its credentials in the one-day sphere, be it at home or away.
Tell me more: India won Tuesday’s match by 73 runs, anchored by a century by Rohit Sharma and six wickets by wrist spinners Kuldeep Yadav and Yuzvendra Chahal.
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