Stock exchange

A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities as well as other financial instruments and capital events including the payment of income and dividends. The securities traded on a stock exchange include: shares issued by companies, unit trusts and other pooled investment products and bonds. To be able to trade a security on a certain stock exchange, it has to be listed there. Usually there is a central location at least for recordkeeping, but trade is less and less linked to such a physical place, as modern markets are electronic networks, which gives them advantages of speed and cost of transactions. Trade on an exchange is by members only. The initial offering of stocks and bonds to investors is by definition done in the primary market and subsequent trading is done in the secondary market. A stock exchange is often the most important component of a stock market. Supply and demand in stock markets is driven by various factors which, as in all free markets, affect the price of stocks.

There is usually no compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on the exchange. Such trading is said to be off exchange or over-the-counter. This is the usual way that bonds are traded. Increasingly, stock exchanges are part of a global market for securities.

The role of stock exchanges

Raising capital for businesses

The Stock Exchange provides companies with the facility to raise capital for expansion through selling shares to the investing public.

Mobilizing savings for investment

When people draw their savings and invest in shares, it leads to a more rational allocation of resources because funds, which could have been consumed, or kept in idle deposits with banks, are mobilized and redirected to promote business activity with benefits for several economic sectors such as agriculture, commerce and industry, resulting in a stronger economic growth and higher productivity levels.

Facilitating company growth

Companies view acquisitions as an opportunity to expand product lines, increase distribution channels, hedge against volatility, increase its market share, or acquire other necessary business assets. A takeover bid or a merger agreement through the stock market is one of the simplest and most common ways for a company to grow by acquisition or fusion.

Redistribution of wealth

Stocks exchanges do not exist to redistribute wealth although casual and professional stock investors through stock price increases (that may result in capital gains for the investor) and dividends get a chance to share in the wealth of profitable businesses.

Corporate governance

By having a wide and varied scope of owners, companies generally tend to improve on their management standards and efficiency in order to satisfy the demands of these shareholders and the more stringent rules for public corporations imposed by public stock exchanges and the government. Consequently, it is alleged that public companies (companies that are owned by shareholders who are members of the general public and trade shares on public exchanges) tend to have better management records than privately-held companies (those companies where shares are not publicly traded, often owned by the company founders and/or their families and heirs, or otherwise by a small group of investors). However, some well-documented cases are known where it is alleged that there has been considerable slippage in corporate governance on the part of some public companies (Pets.com (2000), Enron Corporation (2001), One.TelSunbeam (2001), Webvan (2001), Adelphia (2002), MCI WorldCom (2002), or Parmalat (2003), are among the most widely scrutinized by the media). (2001),

Creating investment opportunities for small investors

As opposed to other businesses that require huge capital outlay, investing in shares is open to both the large and small stock investors because a person buys the number of shares they can afford. Therefore the Stock Exchange provides the opportunity for small investors to own shares of the same companies as large investors.

Government capital-raising for development projects

Governments at various levels may decide to borrow money in order to finance infrastructure projects such as sewage and water treatment works or housing estates by selling another category of securities known as bonds. These bonds can be raised through the Stock Exchange whereby members of the public buy them, thus loaning money to the government. The issuance of such municipal bonds can obviate the need to directly tax the citizens in order to finance development, although by securing such bonds with the full faith and credit of the government instead of with collateral, the result is that the government must tax the citizens or otherwise raise additional funds to make any regular coupon payments and refund the principal when the bonds mature.

Barometer of the economy

At the stock exchange, share prices rise and fall depending, largely, on market forces. Share prices tend to rise or remain stable when companies and the economy in general show signs of stability and growth. An economic recession, depression, or financial crisis could eventually lead to a stock market crash. Therefore the movement of share prices and in general of the stock indexes can be an indicator of the general trend in the economy.

Major stock exchanges

Twenty Major Stock Exchanges In The World: Market Capitalization & Year-to-date Turnover at the end of August 2007

Region	Stock Exchange	Market Value (trillions of US dollars)	Total Share Turnover (trillions of US dollars)
Africa	Johannesburg Securities Exchange	$0.777	$0.264
Americas	NASDAQ	$4.07	$9.71
Americas	São Paulo Stock Exchange	$1.09	$0.348
Americas	Toronto Stock Exchange	$1.90	$1.05
Americas/Europe	NYSE Euronext	$19.6	$22.8
Asia-Pacific	Australian Securities Exchange	$1.28	$0.886
Asia-Pacific	Bombay Stock Exchange	$1.11	$0.182
Asia-Pacific	Hong Kong Stock Exchange	$2.28	$1.15
Asia-Pacific	Korea Exchange	$1.10	$1.26
Asia-Pacific	National Stock Exchange of India	$1.05	$0.381
Asia-Pacific	Shanghai Stock Exchange	$2.38	$2.83
Asia-Pacific	Shenzhen Stock Exchange	$0.707	$1.49
Asia-Pacific	Tokyo Stock Exchange	$4.52	$4.47
Europe	Frankfurt Stock ExchangeDeutsche Börse) (	$1.89	$2.94
Europe	London Stock Exchange	$3.85	$7.64
Europe	Madrid Stock Exchange (BME Spanish Exchanges)	$1.50	$1.98
Europe	Milan Stock Exchange (Borsa Italiana)	$1.06	$1.57
Europe	Moscow Interbank Currency Exchange (MICEX)	$0.965	$0.488
Europe	Nordic Stock Exchange Group OMX	$1.27	$1.26
Europe	Swiss Exchange	$1.25	$1.28

Note 1: includes the Copenhagen, Helsinki, Iceland, Stockholm, Tallinn, Riga and Vilnius Stock Exchanges
Note 2: latest data available is at the end of June 2007

• Sources: World Federation of Exchanges - Statistics/Monthly
• Remarks: There are 2 pending major mergers: NASDAQ with OMX; and London Stock Exchange with Milan Stock Exchange

The main stock exchanges in the world include:

• American Stock Exchange
• Australian Stock Exchange
• Bolsa Mexicana de Valores
• Bombay Stock Exchange
• Euronext Amsterdam
• Euronext Brussels
• Euronext Lisbon
• Euronext Paris
• Frankfurt Stock Exchange
• Helsinki Stock Exchange
• Hong Kong Stock Exchange
• Istanbul Stock Exchange
• JASDAQ
• Johannesburg Securities Exchange
• Karachi Stock Exchange
• Korea Stock Exchange
• Kuwait Stock Exchange
• London Stock Exchange
• Madrid Stock Exchange
• Milan Stock Exchange
• Nagoya Stock Exchange
• National Stock Exchange of India
• NASDAQ
• New York Stock Exchange
• Osaka Securities Exchange
• São Paulo Stock Exchange
• Shanghai Stock Exchange
• Singapore Exchange
• Stockholm Stock Exchange
• Taiwan Stock Exchange
• Tokyo Stock Exchange
• Toronto Stock Exchange
• Zurich Stock Exchange

FYI: There are many external links (text with blue color) in the post, please use them for more information and to check for terminologies.

Say Cheese!!!

Stockbroker: What is a million years like to you?
God: Like one second.
Stockbroker: What is a million dollars like to you?
God: Like one penny.
Stockbroker: Can I have a penny?
God: Just a second ...

Bull Market is a random market movement causing an investor to mistake himself for a financial genius.

Bear Market is a 6 to 18 month period when the kids get no allowance, the wife gets no jewelry and the husband gets no sex.

A long term investment is a short term investment that failed.

Economics is an extremely useful method of employment for economists.

The safest way to double your money is to fold it and put it in your pocket.

Always play with other people's money!

Your best investments are the ones you don't make.

One becomes moral as soon as one is unhappy.

Indian Education System

Education system in India can be dated centuries back because it was in India, that great scholars and sages through scriptures imparted knowledge on various subjects like philosophy, religion, medicine, literature, mathematics, sociology, etc.

Later under Buddhist influence, India education became available to anyone who wanted it and this led to the creation of some famous monasteries and universities like Nalanda, Vikramshila and Takshila in the 13th century.

Today, India education comprises of one of the largest higher secondary education system in the world. In a world that is growing technology savvy everyday, Indian universities and institutes of higher education and research have made a significant contribution to transmission of knowledge in these technological sectors. Today, India is known as the talent-pool of the world, where intelligent, educated people are very easy to find, and this fact has definitely given a boost to India education. In India, education comes most naturally and people who can afford it just flow along with the education system in India. And now, with many government policies targeting to bring the whole of India under the literacy bracket, education in India is bound to touch the lives of every single person in India. This is a huge effort because India has one of the largest population in the world and most of them are below poverty line. So education for each one of them could be a tedious task, tedious though but not an impossible one.

India has been a major seat of learning for thousands of years. While some of the country's universities (BITS, IITs, NITs, IISc, TIFR, ISI, IIMs and AIIMS) are among the world's well-renowned, it is also dealing with challenges in its primary education and strives to reach 100% literacy. Universal Compulsory Primary Education, with its challenges of keeping poor children in school and maintaining quality of education in rural areas, has been difficult to achieve (Kerala is the only Indian state to reach this goal so far). All levels of education, from primary to higher education, are overseen by the Ministry of Human Resource Development (Department of Higher Education (India) and Department of School Education and Literacy), and heavily subsidized by the Indian government, though there is a move to make higher education partially self-financing. Indian Government is considering to allow 100% foreign direct investment in Higher Education.

Structure

(Click on the Image to see clearly)

There are broadly four stages of school education in India, namely primary, upper primary, secondary and higher secondary(or high school). Overall, schooling lasts 12 years, following the "10+2 pattern". However, there are considerable differences between the various states in terms of the organizational patterns within these first 10 years of schooling. The government is committed to ensuring universal elementary education (primary and upper primary) education for all children aged 6-14 years of age. Primary school includes children of ages six to eleven, organized into classes one through five. Upper Primary and Secondary school pupils aged eleven through fifteen are organized into classes six through ten, and higher secondary school students ages sixteen through seventeen are enrolled in classes eleven through twelve. In some places there is a concept called Middle/Upper Primary schools for classes between six to eight. In such cases classes nine to twelve are classified under high school category. Higher Education in Indiatechnical schools (such as the Indian Institutes of Technology), colleges, and universities.

provides an opportunity to specialize in a field and includes

In India, the main types of schools are those controlled by:

• The state government boards like SSLC, in which the vast majority of Indian school-children are enrolled,
• The Central Board of Secondary Education (CBSE) board,
• The Council for the Indian School Certificate Examinations (CISCE) board,
• National Open School and
• "International schools." These schools mimic the schools in the West in pattern and syllabi and are considerably more expensive than regular schools. The exams conducted have the syllabus of anyone of the above-mentioned Councils or Boards.

Overall, according to the latest Government Survey undertaken by NUEPA (DISE, 2005-6), there are 1,124,033 schools.

Accreditation

Accreditation for universities in India are required by law unless it was created through an act of Parliament. Without accreditation, the government notes "these fake institutions have no legal entity to call themselves as University/Vishwvidyalaya and to award ‘degree’ which are not treated as valid for academic/employment purposes." The University Grants Commission Act 1956 explains,

"the right of conferring or granting degrees shall be exercised only by a University established or incorporated by or under a Central Act carlo bon tempo, or a State Act, or an Institution deemed to be University or an institution specially empowered by an Act of the Parliament to confer or grant degrees. Thus, any institution which has not been created by an enactment of Parliament or a State Legislature or has not been granted the status of a Deemed to be University, is not entitled to award a degree."

Accreditation for higher learning is overseen by autonomous institutions established by the University Grants Commission:

• All India Council for Technical Education (AICTE)
• Distance Education Council (DEC)
• Indian Council of Agricultural Research (ICAR)
• Bar Council of India (BCI)
• National Assessment and Accreditation Council (NAAC)
• National Council for Teacher Education (NCTE)
• Rehabilitation Council of India (RCI)
• Medical Council of India (MCI)
• Pharmacy Council of India (PCI)
• Indian Nursing Council (INC)
• Dental Council of India (DCI)
• Central Council of Homeopathy (CCH)
• Central Council of Indian Medicine (CCIM)
• veterinary council of india (VCI)

Graduation market

This is a chart of graduation market of India as per Census 2001.

Educational level	Holders
Total	502,994,684
Unclassified	97,756
Non-technical diploma or certificate not equal to degree	386,146
Technical diploma or certificate not equal to degree	3,666,680
Higher Secondary, Intermediate, Pre-university or Senior Secondary	37,816,215
Matriculation or Secondary	79,229,721
Degree	Holders
Total	37,670,147
Post-graduate degree other than technical degree	6,949,707
Graduate degree other than technical degree	25,666,044
Engineering and technology	2,588,405
Teaching	1,547,671
Medicine	768,964
Agriculture and dairying	100,126
Veterinary	99,999
Other	22,588

Criticism of Indian Education System

Modern education in India is often criticized for being based on rote learning. Emphasis is laid on passing examinations with high percentage. Very few institutes give importance to developing personality and creativity among students. Recently, the country has seen a rise in instances of student suicides due to low marks and failures, especially in metropolitan cities, even though such cases are very rare.

The presence of a number of education boards (SSLC, ICSE, CBSE, IB,IGCSE ) leads to non-uniformity. ICSE and CBSE boards, are sometimes favorably considered at the time of admission, although it cannot be said with certainty that their syllabuses are harder. A large number of SSLC (State board) students therefore complain that their ICSE and CBSE counterparts are given an advantage during college admissions, which are extremely competitive and sought for. Most colleges though account for these differences during admissions. The syllabi prescribed by the various boards are accused of being archaic and some textbooks (mostly ones written for the SSC) contain many errors.

The boards are recently trying to improve quality of education by increasing percentage of practical and project marks. However, critics say even this is memorized by students (or even plagiarized). This is attributed to pressure from parents who are eager to see high scores more than overall development.

Many people also criticize the caste, language and religion-based reservations in education system. Many allege that very few of the weaker castes get the benefit of reservations and that forged caste certificates abound. Educational institutions also can seek religious minoritylinguistic minority status. In such institutions, 50% of the seats are reserved for students belonging to a particular religion or having particular mother-tongue(s). For example, many colleges run by the Jesuits and Salesians have 50% seats reserved for Roman Catholics. In case of languages, an institution can declare itself linguistic minority only in states in which the language is not official language. For example, an engineering college can declare itself as linguistic-minority (Hindi) institution in the state of Maharashtra (where official state language is Marathi), but not in Madhya Pradesh or Uttar Pradesh (where the official state language is Hindi). These reservations are said to be a cause of heartbreak among many. Many students with poor marks manage to get admissions, while meritorious students are left out. Critics say that such reservations may eventually create rifts in the society. (non-Hindu) or

The general corruption prevalent in India is also an issue in the Education system. Engineering, medical and other lucrative seats are sometimes sold for high prices and ridden with nepotism and power-play.

Student politics is also a major issue, as many institutions are run by politicians.

Ragging used to be a major problem in colleges, but tough rules and regulations have curbed it. Some state governments have made ragging a criminal offence.

FYI: There are many external links (text with blue color) in the post, please use them for more information and to check for terminologies.

Say Cheese!!!

1. Chemical formula:
TEACHER : What is the chemical formula for water?
PAPPU : "HIJKLMNO! "!!
TEACHER : What are you talking about?
PAPPU : Yesterday you said it's H to O !


2. America:
TEACHER : PAPPU, go to the map and find North America.
PAPPU : Here it is!
TEACHER : Correct. Now, class, who discovered America?
CLASS : PAPPU!


3. Spelling:
TEACHER : PAPPU, how do you spell "crocodile"?
PAPPU : "K-R-O-K-O-D-A-I-L"
TEACHER : No, that's wrong
PAPPU : Maybe it's wrong, but you asked me how I spell it!


4. Birthday:
TEACHER : PAPPU, give me a sentence starting with "I".
PAPPU : I is...
TEACHER : No, PAPPU. Always say, "I am."
PAPPU : All right... "I am the ninth letter of the alphabet."


5. Coincidence:
TEACHER : "Can anybody give an example of "COINCIDENCE?"
PAPPU : "Sir, my Mother and Father got married on the same day, same time."


6. George washington:
TEACHER : "George Washington not only chopped down his father's Cherry tree, but also admitted doing it. Now do you know why his father didn't punish him?"
PAPPU : "Because George still had the axe in his hand?"

Indian Air Force

The Indian Air Force (Bharatiya Vayu Sena) is the air-arm of the Armed Forces of India and has the prime responsibility of conducting aerial warfare and securing the Indian airspace. It was established on October 8, 1932 as the Indian Air Force. It was granted the prefix "Royal" in 1945 in recognition of its services during the Second World War. The prefix Royal was dropped after India became a Republic in 1950. With its headquarters in New Delhi, the Indian Air Force has a strength of approximately 170,000 personnel and 1,350 combat aircraft (2006 figure) making it the fourth largest air force in the world.

Indian Air Force's No.1 Squadron came into being on April 1, 1933. Initially, the IAF consisted of five Indian pilots, one RAF Commanding officer and four Westland Wapiti biplanes.

IAF air staff

With its headquarters in New Delhi, the Indian Air Force has a strength of 170,000 personnel and 1430 combat aircraft (2006 figure).

The Officers of the IAF are commissioned in one of the following branches:

• Flying
• Engineering
• Administration
• Logistics
• Accounts
• Education
• Meteorological
• Medical & Dental Branch

Rank structure

The highest rank attainable in the IAF is Marshal of the Indian Air Force conferred by the President of India only after exceptional service (Equivalent to Field Marshall in the Indian Army). MIAF Arjan Singh is the only officer to have achieved this rank. The head of the Indian Air Force is the Chief of the Air Staff. The current Air Chief Marshal is Fali Homi Major.

Officer

The various ranks of personnel within the Indian Air Force are listed below in descending order:

• Marshal of the Air Force
• Air Chief Marshal (Chief of the Air Staff and equivalent to General and Admiral)
• Air Marshal (equivalent to Lt. General in the Army)
• Air Vice Marshal (equivalent to Major General in the Army)
• Air Commodore (equivalent to Brigadier in the Army)
• Group Captain (equivalent to Colonel in the Army)
• Wing Commander (equivalent to Lt. Colonel in the Army)
• Squadron Leader (equivalent to Major in the Army)
• Flight Lieutenant (equivalent to Captain in the Army)
• Flying Officer (equivalent to Lieutenant in the Army)

Airmen

During its formation, the rank structure of airmen was based on the British model. Over the years the rank structure has seen significant changes.

• Master Warrant Officer
• Warrant Officer
• Junior Warrant Officer
• Sergeant
• Corporal
• Leading Aircraftman
• Aircraftsman

Structure of the IAF

The head of the Indian Air Force, Chief of the Air Staff, is assisted by six officers: the Vice Chief of the Air Staff, the Deputy Chief of the Air Staff, the Air Officer in Charge of Administration, the Air Officer in Charge of Personnel, the Air Officer in Charge of Maintenance, and the Inspector General of Flight Safety.

Commands

The Indian Air Force currently operates seven Commands. Each Command is headed by a Air Officer Commanding-in-Chief in the rank of Air Marshal.

Commands	HQ Location	Current AOC-in-C
Western Air Command	Subroto Park, New Delhi	Air Marshal Padamjit Singh Ahluwalia
Eastern Air Command	Shillong, Meghalaya	Air Marshal P K Barbora
Central Air Command	Allahabad, Uttar Pradesh	Air Marshal Pradeep Vasant Naik
Southern Air Command	Thiruvananthapuram, Kerala	Air Marshal Yeshwant Rao Rane
South Western Air Command	Gandhinagar, Gujarat	Air Marshal P K Mehra
Training Command	Bangalore, Karnataka	Air Marshal G S Chaudhary
Maintenance Command	Nagpur, Maharashtra	Air Marshal J S Apte

Aerospace Command

The IAF is setting up an aerospace command. This command will have space technology including satellites available to them. This command is said to be utilised by all the three services of the Indian armed forces and also for civilian purposes by ISRO

Wings

Wing is a static formation below the level of the Commands and is an intermediate between Command and Squadron. A Wing generally consists of various IAF Squadrons and Helicopter Units and along with the Forward Base Support Units (FBSU), it is responsible for maintaining the installation. FBSUs do not have or host any Squadrons or Helicopter units but act as transit airbases for routine operations. In times of war, they can become full fledged air bases playing host to various Squadrons.

Currently, 47 Wings and 19 FBSUs make up the IAF

Squadrons

Squadrons are the field units and formations attached to static locations. In other words, a Flying Squadron is a sub-unit of an air force station which carries out the primary task of the IAF. All fighter squadrons are headed by the Commanding Officer with the rank of Wing Commander. Some Transport squadrons and Helicopter Units are headed by the Commanding Officer with the rank of Group Captain.

IAF Bases

The IAF operates over 60 air bases, with more being built or planned. They are grouped under one of the five Regional Air Commands. In addition, the IAF also operates the Farkhor Air BaseTajikistan. in

Western Air Command

The largest Air Command. It operates 16 Air bases from Punjab to Uttar Pradesh

Eastern Air Command

It operates 15 Air bases in Eastern and North-eastern India.

Central Air Command

Operates 7 Air Bases in Madhya Pradesh and surrounding states of central India

Southern Air Command

A strategically important Air command, in line with India's latest doctrine of protecting the vital shipping routes. It operates 9 Air bases in South India and 2 in the Andaman and Nicobar Islands.

South Western Air Command

The front line of defence against Pakistan, this important Command operates 12 Forward Air Bases in Rajasthan and Gujarat.

IAF Aircraft

The Indian Air Force has a strength of 1430 combat aircraft. Most of the IAF's fighter jets are of French, Soviet/Russian and British origin, with designs by the latter two countries being constructed by Hindustan Aeronautics Limited under licence. The indigenously-built HAL Tejas (formerly Light Combat Aircraft) is expected to enter service by 2010, replacing the MiG-21s in IAF service.

The various types of combat aircraft in the IAF are listed below.

Air superiority aircraft

The Sukhoi Su-30MKI (MKI: 'Multifunctional Commercial - Indian') is the IAF's prime air superiority fighter. The Su-30K variant was first acquired in 1996. In October 2004, the IAF signed a multi-billion US$ contract with Sukhoi according to which Hindustan Aeronautics Limited was given the licence to manufacture 140+ Su-30MKI's with full technology transfer. HAL plans to manufacture about 15 of these aircraft annually. The twin seater, multi-role fighter has a maximum speed of 2500 km/h (Mach 2.35) and has a service ceiling of 17,500 metres. The aircraft, with one mid-air refuelling, can go to a distance of 8000 km, making it an effective platform to deliver nuclear weapons. In February, 2007 India ordered 40 additional Su-30MKI combat aircraft.

Multi-role combat aircraft

These are aircraft for strike, offensive support, air defence and superiority purposes. The IAF currently possesses several multi-role fighter jets that perform these functions. Single-seater Mirage 2000s and MiG-29s serve in both strike and defence squadrons. The MiG-29 (fulcrum) has a top speed of 2445 km/h (Mach 2.3) and is armed with a 30 mm cannon along with R-60 & R-27 R missiles. Capable of flying at 2500 km/h (Mach 2.3), the Mirage 2000-H is the IAF's prime ground-attack fighter jet while the double seater Mirage 2000-TH can also play the role of an effective interceptor aircraft. This aircraft can carry a wide range of weaponry including two 30 mm integral cannons, two Matra super 530D medium-range missiles and two R550 Magic close combat missiles. 450 multi-role MiG-21 combat aircraft have been serving the IAF for the past two decades. The air force plans to eventually replace its MiG-21s with the indigenously-built LCA HAL Tejas by about 2010.

Strike, attack and offensive support aircraft

Squadrons of Jaguar IS and MiG-27 aircraft serve as the IAF's primary ground strike force. The twin-engine Jaguar IB, with a top speed of Mach 1.3, is capable of carrying nuclear weapons. The IAF currently possess 100 Jaguar IS and 8 maritime strike Jaguar IM aircraft. The single-seater MiG-27 carries one GSh-6-30 six-barrelled 30 mm cannon, 4000 kg of general-purpose ordnance, SPPU-22 and SPPU-6 gun pods, and various guided air-to-surface missiles.

Reconnaissance aircraft

Various unmanned aircraft are used for reconnaissance. The IAF used to operate a fleet of MiG-25 (Foxbat) R, U reconnaissance aircraft until 2006. The high-speed interceptor aircraftR-40 (AA-6 'Acrid') air-to-air missiles, two R-23 (AA-7 'Apex') and four R-60 (AA-8 'Aphid') or R-73 (AA-11 'Archer'). The MiG-25, in service since the late 1980s, were decommissioned from service in 2006. The IAF also used the English Electric Canberra aircraft for reconnaissance and photoreconnaissance missions during the Kargil war. The Canberras were originally used as Bombers, and served in that role in the 1971 war. In 2003, the IAF bought 6 IL-78MKI aircraft from Russia.The aircraft's primary role is air-to-air re-fueling.The IAF also has a fleet of 24 IL-76MD aircraft The IAF has ordered 3 IAI Phalcon to be mounted on IL-76. Deliveries start from September 2007. carried four

Unmanned aerial vehicles

The primary role of Unmanned Aerial Vehicles (UAVs) is to provide aerial surveillance and reconnaissance. However, DRDO, ADA and HAL are developing a range of Unmanned Combat Air Vehicles. The IAF currently operates IAI Malat-built Searcher MkII and Heron UAVs. Israel Aircraft Industries and Aeronautical Development Establishment (ADE), India's leading unmanned aerial vehicle research agency are also jointly developing three new UAVs.

UAVs can also be used as a target aircraft. HAL Lakshya, indigenously-developed pilotless target aircraft, was inducted into the IAF in July 2005. Israel has also bought a few of the Laksya PTAs. Another UAV, the HAL Nishant Remote Piloted Vehicle (RPV) has also been developed, with an endurance of over 3 hours. The UAV can be used for carrying out ground attacks and aerial surveillance. It will be inducted into the Indian Army by 2007. Another smaller UAV, known as the Kapothaka is also being developed by the Aeronautical Development Agency.

Support helicopters

Aerobatics by Sarang helicopter formation display team.

An important objective of the IAF is to support ground troops by providing air-cover and by transporting men and essential commodities across the battlefield. The list of helicopters currently in service with the IAF:

• Mi-25/35 (Hind)
• Mi-26
• Mi-17 1V (Hip-H)
• Mi-17 (Hip-H)
• HAL Dhruv
• Mi-8 (Hip)
• HAL Cheetah
• HAL Chetak

On October 15, 2006 India agreed to acquire 80 Mi-17 helicopters from the Russian Federation The new and improved HAL Dhruv, complete with the more powerful Shakti engine and glass cockpit, will be coming on stream in 2007. in a deal worth approximately US$662 million.

Training aircraft

HAL HJT-36.

The Indian Air Force currently operates around 300 MiG-21 aircraft.The IAF initially planned to replace the MiG-21 fleet with indigenously-built HAL Tejas aircraft by 2006. However, the target could not be met due to developmental delays and a U.S. sanction, following the Pokhran tests, which blocked the delivery of GE F404 engines- a crucial component of the aircraft.

In 2003, the IAF placed an order for 66 Hawk Mk 132 Advanced Jet Trainers in a deal worth over 1 billion GBP. The supply of these advanced trainer aircraft will bring to an end the use of the MiG-21 as a training jet. India also manufactures less-sophisticated HAL HJT-16 Kiran and this aircraft will be replaced with the advanced HJT-36. IAF uses HPT-32 Deepak for basic training.

Aircraft inventory

Combat Aircraft:

Aircraft	Origin	Type	Versions	In service	Trainers	Squadrons	Notes
Sukhoi Su-30	Russia India	Multi Role Air Dominance	Su-30MKI	80	0	20, 24, 30	230 to be acquired in total (90 in knock-down kits and 140 built by HAL)
Dassault Mirage 2000	France	Multi Role Air Superiority	Mirage 2000H	41	10	1, 7, 9	To be upgraded.
Mikoyan MiG-29	Soviet Union	Multi Role Air Superiority	MiG-29	56	8	28, 47, 223	To be upgraded.
Sepecat Jaguar	United Kingdom France	Ground Attack Maritime strike	Jaguar IS Jaguar IM	78 9	30 2	5, 14, 16, 27 6	20 more ordered.
Mikoyan MiG-27	Soviet Union India	Ground Attack	MiG-27 ML	120	11	10, 18, 22, 29, 222, TACDE(0.5)	Upgraded
Mikoyan MiG-23	Soviet Union	Ground Attack	MiG-23 BN	16	2	6
Mikoyan MiG-21	Soviet Union India	Interceptor	MiG-21 Bison MiG-21Bis MiG-21 M/MF	104 48 72	13 8 9	3, 4, 21, 32, 51 15, 23, 26 17, 35 'A', 37,101,108	To be upgraded

Helicopters:

Aircraft	Origin	Type	Versions	In service	Squadrons	Notes
HAL Dhruv	India	utility helicopter		30	117, 151	deliveries underway, with Shakti engines and glass cockpit
Aérospatiale Alouette III	France India	utility helicopter	SA 316B Chetak	92	111, 116, 141SSS F, 142SSS F, HTS	60 built by HAL
Aérospatiale Lama	France India	utility helicopter	SA 315B Cheetah	24	114, 131F, 132F	built by HAL
Eurocopter Dauphin	France	utility helicopter	SA 365	6
Mil Mi-17	Russia	utility helicopter	Mi-17-1V	0	112 HU	80 ordered, deliveries underway
Mil Mi-8	Soviet Union Russia	transport helicopter	Mi-8 Mi-17	82 52	105, 107, 109, 110, 112, 118, 119, 121, 122F 127, 128, 129, 130, 152, 153
Mil Mi-24	Soviet Union	attack helicopter	Mi-35	32	104, 125
Mil Mi-26	Soviet Union	transport helicopter		8	126HF

Transport Aircraft:

Aircraft	Origin	Type	Versions	In service	Squadrons	Notes
Antonov An-32	Ukraine	tactical transport		94	12, 25'B', 33, 43, 48, 49, PTS, TTW
Avro 748	United Kingdom	tactical transport	HS 748-100	64	11, 41 'A', 59, 106 'A', 6 Cmd Flts (2 A/c)
Boeing 737	United States	transport	737-200	3	Air HQ Flt
Dornier Do 228	Germany India	tactical transport	Do 228-201	28	41, TTW, 6 Comm Flts (2 A/c)	built by HAL; 12 more ordered
Ilyushin Il-76	Soviet Union Uzbekistan	transport tanker	Il-76 Il-78MKI	25 6	44, 25 'A' 78	ARP-3 refueling pods from Israel
Il-76Phalcon	Russia/Israel	AWACS	Phalcon	0		3 to be inducted progressively from July 2008 onwards
Embraer EMB 135	Brazil	VIP transport	ECJ-135 Legacy	5	Air HQ Flt
Gulfstream III	United States	VIP transport		3

Trainers:

Aircraft	Origin		Type	Versions	In service	Squadrons	Notes
BAE Hawk	United Kingdom		Trainer	Hawk 132	6		66 to be delivered starting 2007
HAL HJT-36 Sitara	India		Trainer	HJT-32 Sitara	0		12 to be delivered in 2007
HJT-16 Kiran	India		Trainer	HJT-16 Kiran	84
HPT-32 Deepak	India		Trainer	HPT-32 Deepak	70

Future Aircraft

Tejas in formation flight.

The Indian Air Force currently operates more than 250 MiG-21 aircraft. Due to its aging equipment, several MiG-21s used in training roles have crashed over the past six years, killing over 50 IAF pilots. Also, they are nearing the end of their service life having been in the IAF for many decades and are being decommissioned at an increasing pace. The IAF initially planned to replace the MiG-21 fleet with indigenously-built HAL Tejas aircraft by 2006. However, the target could not be met due to developmental delays and a US sanction, following the Pokhran-II nuclear tests, which blocked the delivery of GE F404 engines - a crucial component of the LCA.

The Indian Air Force has a requirement for combat aircraft to replace the MiG-21 in service. The Mirage-2000 were considered as a replacement. However, Dassault announced that it has shut down the assembly line of the Mirage-2000. Hence the IAF included the Mig-29M/M2, Gripen and F-16 in its itenarary of consideration. This was the first time in the IAF's history that an American aircraft was being considered. Later the number of manufacturers was widened to include heavy-weight aircraft like the F/A-18 Super Hornet, the Eurofighter Typhoon, and Dassault Rafale. In an interview, the then Air Chief of the IAF M. Shahindra Pal Tyagi admitted to allowing heavy-weight aircraft to compete, "to allow more competition".

The limited series production of the indigenous LCA Tejas aircraft is ongoing at Hindustan Aeronautics Limited. The aircraft is supposed to get full operational clearance by 2010-12, as the Tejas' development has been accelerated. It is believed that the MRCA's procurement may take a much longer time than Tejas' induction in the IAF, and its subsequent mass production. The air force has issued a Intent (RoI) for procurement of MRCA (Multi Role Combat Aircraft). The following aircraft are participating: Russian MiG-35, French Rafale, European Eurofighter Typhoon, Swedish Gripen and the US F-16C. Besides the F-16Cs, the US has also offered the sale of F-16 Block 70 and F/A-18E/F Super Hornet combat aircraft. IAF pilots and technicians are familiar with earlier aircraft from MiG and Dassault and would need minimal retraining. Infrastructural and logistical support for maintenance and spares would also be easier for these aircraft compared to the unfamiliar Gripens, F-16s and F/A-18s. Moreover, many analysts feel that the US, whose unpredictable foreign policy might clamp sanctions at any time, cannot be a reliable supplier.

Apart from the 126 multi-role combat aircraft, 180 Su-30MKI air superiority fighters (out of the 230 Su-30MKI fighters ordered, 80 are already in service with the IAF), 220 Light Combat Aircraft, 29 Jaguar combat aircraft, 4 Tu-22M3 bombers, the Indian Air Force has/will sign contracts for 66 BAE Hawk-132 trainers, 80+ combat helicopters, 3 new Long Range UAVs, 8 mid-air refueling planes, 225+ HJT-36 Sitara Intermediate Jet Trainer aircraft and some additional medium-range transport aircraft. Indian Air Force plans to upgrade its fleet of Mirage 2000 and MiG-29 aircraft. India is considering the purchase of 15 C-130J Super Hercules aircraft.

In Development

MCA configuration option.

The IAF will also buy 220 indigenously-built HAL Tejas light combat aircraft. It has already ordered a total of 28 Tejas aircraft. These aircraft are expected to enter service beginning in 2009. The HAL HJT-36 Intermediate Jet Trainer carried out its maiden test flight in 2003 and is all set to enter service within the next 5 years. HAL recently signed a deal with Russian company Saturn DDB for supply of a specially designed engine for the trainer. Deliveries of the 66 Hawk T.132s are now expected to begin in December, 2007. The Hawk, along with the HAL HJT-36, will serve the IAF's future fighter training needs. Apart from combat and training aircraft, India is also developing un-manned surveillance aircraft in collaboration with Israel Aircraft Industries (IAI).

In 2001, the Ministry of Defence signed a deal with Russia to jointly develop and fund the Perspektivnyi Aviatsionnyi Kompleks Frontovoi Aviatsyi (Future Air Complex for Tactical Air Forces) program. The program was initiated to develop a fifth generation fighter aircraft to fill a role similar to that of Lockheed Martin's F-22 Raptor in all aspects. Initially, Mikoyan-Gurevich's Project 1.44 was expected to get the contract. However, Sukhoi Aviation Corporation came up with a more cost-effective aircraft and won. Design work has commenced on Sukhoi's experimental Su-47 Berkut aircraft. PAK FA proves to be a very ambitious program and the estimated costs for developing the aircraft vary between US$15-20 billion. However, (as of March 2007) the aircraft is at a very late stage of development without any Indian involvement and an Indo-Russian pact on building a fifth-generation fighter has only recently been agreed . Thus, a fifth-generation fighter aircraft project could still be a project outside the PAK FA frame. An official project name has not been assigned to this possible Indo-Russian fifth-generation fighter aircraft development programme as of March, 2007.

India is also planning to construct a fifth generation aircraft called Medium Combat Aircraft or MCA. The MCA is presently in early stages of development and production is expected to commence in 2015. Hindustan Aeronautics has already commenced the development of a Indo-Russian Multirole Transport Aircraft, which will replace the IAF's ageing fleet of Antonov An-32s.

Weapons

Air to Air Missiles

• Vympel R-60 (AA-8 Aphid)
• Matra Magic 2
• Matra Super 530
• Vympel R-27 (AA-10 Alamos)
• Vympel R-73 (AA-11 Archer)
• Vympel R-77 (AA-12 Adder)
• DRDO Astra- Under development.

Air to Surface Missiles

• Zvezda-Strela Kh-25 (AS-10 Karen)
• Aerospatiale AS-30L
• Hawker-Matra Martel Missile
• Kolomna Machine Design Bureau 9K114 Shturm (AT-6 Spiral)
• Molniya Design Bureau Kh-29 (AS-14 Kedge)
• Zveda Kh-31 (AS-17 Krypton)
• BAe Sea Eagle
• Raduga Kh-59M (AS-18 Kazoo)
• DRDO- NPO Mashinostroeyenia Brahmos- Air launched version under Development

Surface to Air Missiles

• S-300
• SA-3
• SA-8
• SA-16 Igla MANPAD System
• Akash- Under Trials
• Trishul- Limited production possible. Bulk orders replaced by "Maitri" LLQRM (Low Level Quick Reaction Missile) Joint Venture between DRDO and MBDA.
• SPYDER (Python-5 & Derby Missiles)

The IAF has initiated the process to induct the Akash and Trishul surface-to-air missilesIntegrated Guided Missile Development Program. The Indian Air Force will also introduce 18 SPYDER air defence systems. developed as a part of the

Surface to Surface Missiles

• Agni-I (A-1)
• Agni-II (A-2)
• Agni-IIAT (A-2AT)
• Agni-III
• Agni-IV (Under Development)
• SS-150/Prithvi-I
• SS-250/Prithvi-II
• SS-350/Prithvi-III
• BrahMos

FYI: There are many external links (text with blue color) in the post, please use them for more information and to check for terminologies.

Say Cheese!!!

Give us new missiles

The 1982 Israeli invasion of Lebanon resulted in many dogfights between Syrian and Israeli jet fighters.

In the end, the Syrians lost over 80 planes and had a number of SAM batteries knocked out, while the Israelis lost no planes.

Sometime later, the Syrian Defense Minister was shopping for weapons in Moscow.

His host, the Soviet Defense Minister, was embarrassed about the scorecard from Lebanon.

He told his Syrian guest, "Take anything you want - our best tanks, rifles, or surface-to-air missiles."

"No, no - you don't understand!" the Syrian replied. "Last time you gave us surface-to-air missiles. This time we need surface-to-*jet* missiles!"