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California continues to have an exodus of companies and people. The state has long had a strong tax base from non manufacturing businesses like entertainment (although that’s gone out of state too), and now from tech to support a very expensive state government and social programs. But other tech hubs are growing out of state.California has 25% of all the illegal immigrants in the United States. Cities like Los Angeles and San Francisco benefit in their hotels and restaurants and farmers in the Central Valley benefit from the influx of low wage low skilled labor. But public health hospitals and clinics and public schools services are burdened with the extra influx. Almost no parent if given the choice will send their child to an L.A. City public school aside from one of the limited magnet schools. LA Unveils Nations Costliest School On Site Of RFK AssassinationCalifornia also has the highest percentage of people living in poverty. This is despite record spending on social programs.Guess which state has the highest poverty rate in the country? Not Mississippi, New Mexico, or West Virginia, but California, where nearly one out of five residents is poor. That's according to the Census Bureau's Supplemental Poverty Measure, which factors in the cost of housing, food, utilities and clothing, and which includes noncash government assistance as a form of income.Given robust job growth and the prosperity generated by several industries, it's worth asking why California has fallen behind, especially when the state's per-capita GDP increased approximately twice as much as the U.S. average over the five years ending in 2016 (12.5%, compared with 6.27%).It's not as though California policymakers have neglected to wage war on poverty. Sacramento and local governments have spent massive amounts in the cause. Several state and municipal benefit programs overlap with one another; in some cases, individuals with incomes 200% above the poverty line receive benefits. California state and local governments spent nearly $958 billion from 1992 through 2015 on public welfare programs, including cash-assistance payments, vendor payments and "other public welfare," according to the Census Bureau. California, with 12% of the American population, is home today to about one in three of the nation's welfare recipients.California Democrats have long been free to indulge blue-state ideology while paying little or no political price.The generous spending, then, has not only failed to decrease poverty; it actually seems to have made it worse.Why is liberal California the poverty capital of America?So working people, many who tend to vote Republican having been leaving the state.Since Gov. Brown was sworn in, becoming the oldest governor in state history, 243,099 people have fled California on net for other states, taking $7.794 billion with them to states that don’t have such high taxes and onerous regulations that make housing unaffordable for middle class households. The top recipients of Golden State refugees last year were Texas and Nevada, two states that have zero income tax. California, meanwhile, levies the highest top marginal income tax rate in the nation. Policy, like elections, has consequences.The personal and corporate income tax hikes championed by Gov. Brown in 2012 have likely helped exacerbate the exodus of Californians. In a move that will further drive up the cost of living in one of the hardest states in which to get by, Gov. Brown approved an extension of the state cap & trade program earlier this year. This will hurt low and middle income households the hardest, who will face what is effectively a regressive tax hike in the form of higher gas prices and utility bills.Cap & trade makes Gov. Brown, Democratic lawmakers who run the state legislature with such large majorities they don’t even feel the need to discipline sexual offenders in their caucus, and their supporters feel good about themselves. But the program doesn’t improve the environment. In fact, California, even with its cap & trade program and renewable energy mandate, is home to 8 of the 10 cities with the nation’s worst air pollution.Mass Exodus From States Run By Top Democratic Governors ContinuesIt’s pretty tough due to regulation upon regulation to manufacture anything in California. Even Tesla is building their car batteries in Nevada. Nissan and Toyota have exited and Honda’s building manufacturing in Ohio and is likely to leave in the near future.Not that long ago, California politicians were touting their attempt to lure a substantial Boeing manufacturing job to their closing plant in Long Beach. But among other things, the plane parts after manufacturing would have had to be shipped to Arizona for materials treatment and painting and then shipped back again for final assembly. Not too cost efficient and of course they didn’t get the bid.A long list of companies have left the state.Using publicly available records, mostly media and government reports, Vranich searched for what he calls “California divestment events” — business decisions to shun the state.These come in three types: companies that left the state entirely; companies that expanded in other states rather than in California; and a few companies that had planned to grow in the Golden State but changed their minds.Vranich found records of 1,510 divestment events occurring in California between 2008 and 2014.Yet, according to a report in the National Review, that number is an incomplete accounting of the situation.“Experts in site selection generally agree that at least five events fail to become public knowledge for every one that does,” Vranich wrote in his study, concluding that the real total is probably more than 9,000 divestment events for this period.Even that estimate may not tell the full story, according to the National Review.Small businesses are less likely to get media coverage when they relocate, but they are the biggest category of divestment events.The cost and compliance burdens of California’s taxes and regulations fall disproportionately on smaller companies, which are less able to afford the teams of attorneys and accountants that mega-corporations can employ.As Carly Fiorina ably pointed out during the GOP debates, big government tends to benefit big business.To no one’s surprise, Texas was the main beneficiary of California divestment events during each year of the study.Following Texas, the top destinations for “escaping” California businesses were Nevada, Arizona, Colorado, Washington, Oregon, North Carolina, Florida, Georgia, and Virginia.California’s elected officials do not appear to care too much about businesses leaving the state. Yet the problem is real.Vranich has been conducting similar studies and publicly sharing his findings about thousands of ex-California companies since 2010. Yet despite all the evidence, Governor Jerry Brown has made several public statements denying a “mass exodus” of California businesses.Brown reportedly has a long history of making excuses when businesses reject his state.When Toyota announced it was uprooting three California plants and consolidating its headquarters in Plano, Texas, the Wall Street Journal quoted Brown as saying, “We’ve got a few problems. We have lots of little burdens and regulations and taxes.“But smart people figure out how to make it.”The Journal’s reply: “California’s problem is that smart people have figured out they can make it better elsewhere.” WHY $15B CORP FLEES CALIFORNIA …

I’m gonna try to make this as simple & short as possible.So after the 9/11 attacks the US economy went into a recession as result the fed lowered its rate to 1%.1% is a very low interest rate and so fixed income investors that used to buy US treasury bills were not satisfied by the rates they received so they started looking for other investments. Replacing traditional US based institutional buyers of US treasury bills with sovereign countries like China, Japan & the gulf countries.Investment banks were aware about this and they started implementing some of their financial wizards on boring mortgages.It started with securitizing boring mortgages into Mortgage backed security which is a form of asset backed securities.An MBS is basically a collection of different mortgages that is geographically dispersed in order to increase diversification and decrease risk. Essentially keeping potential returns from such investments as high as possible while simultaneously decreasing risk.Starting from 2003-4 banks like Goldman sachs, Morgan Stanley, Merrill Lynch, Bear Stearns & Lehman brothers, started packaging MBS and creating what is known as collateralized debt obligation or CDO. Which is basically a group mortgage backed securities that is also geographically dispersed, for the same reason increase diversification and so decrease risk. The CDO is then divided into tranches starting from AAA to CCC depending on the credit quality of the borrower and thus the underlying mortgages themselves.Investment banks were making big money out of these transactions. But there was a problem almost all Americans who could potentially take out a mortgage already did and so banks had to do something about it. & because the financial industry generally is mainly composed Banks on one side and Insurance companies on the other, Many insurance companies got into the game (especially AIG) by issuing CDS which is basically an insurance on those CDOs. The problem was many of the sellers of those CDS did not have enough capital to cover these CDS mainly because no one thought the unthinkable would happen.Both commercial & Investment banks knew that if someone were to default on their mortgage the mortgage lender could take his house & sell it out.So starting from 2004–05 commercial banks starting offering some families with extremely poor credit scores the ability to take a mortgage and people were like if the banks’ experts are willing to lend me money i must be able to afford it.So the cycle was like thatCommercial Banks would lend insolvent families money to take a out mortgage, they would then securitize them and create mortgage backed securities. Investment banks would borrow millions sometimes billions to buy these MBS. They would then package them all to create a CDO. Buyers like Hedge funds, Mutual Funds, Pension Funds, Sovereign wealth funds, Institutional investors, private equity and Insurance companies would borrow money to buy those CDOs and then resell it to the next investor.Starting from mid 2006, many Americans started defaulting on their debt so a lot of the mortgage lenders started selling their houses at first it was no problem instead of owning a security you would own a house, and who doesn’t like owning a house right?After a while however and as more American families started defaulting on their mortgages, many of the mortgage holders started flooding the market with houses creating more supply then there is demand and so housing prices plummeted.Both buyers and sellers of CDOs had no idea what to do because they borrowed billions of dollars and in the case of Lehman brothers around 130B$ and now their investments are worth nothing. Due to those huge losses insurance companies who sold those CDS, were no asked to cover but since they did not have enough cash they were in trouble too. This is why the federal government bailed out AIG for 180 Billion dollars.There was also another problem many of the mathematical models used by investment banks to asses the level of risk for each investment looked at mortgages in particular geographical areas, but never included the possibility of a national housing downturn, or the prospect that millions of borrowers would default on their mortgages. Thus many investment banks were not ready if such a thing would happen.As you can see many financial services companies had gigantic obligations while simultaneously running huge losses. It was mainly because the unthinkable has happened and for the first time since WW2 and on a yearly basis and as a national average american housing prices fell.Add to that the fact that many Americans who could actually afford to pay their mortgages intentionally stopped paying it. First reason was many Americans took mortgages to buy second houses and as the economy dipped into the recession they decided it was no longer a necessary investment also why pay a mortgage on 300,000$ loan when the house is currently worth 100,000$ only.So the US government initiated TARP a 700 Billion dollar plan to bail out major financial services companies. For example1- Citigroup received 25B$2- JP Moran chase 25B$3-Wells Fargo 25B$4- Bank of America 15B$ ( it acquired Merrill Lynch which received 10B$ from the US government)5- Morgan Stanley 10B$6- Goldman Sachs 10B$Many more commercial and investment banks and other financial institutions, received additional capital from US treasury and external investors to cover up the gigantic losses the accumulated later on.

It is right in every direction for India, First this strategic partnership saves billions of dollars procuring weaponry directly from Israel, Second it opens hundreds doors for private firms to participate in the development and production, which has a chain reaction of opportunities from self reliance to job opportunities, For our well educated intellectual youth and small scale industries. And third it opens the doors for export of such weaponry to other countries saving million of dollars in foreign reserves.India and Israel now plan to further crank up their already expansive defence partnership by going in more co-development and co-production projects of high-tech weapon systems and exporting them to other friendly countries.A new sub-group to promote such joint projects, under the overarching joint working group on defence cooperation headed by Indian defence secretary and his Israeli counterpart, was set up on Thursday.The main focus of the sub-working group (SWG) on defence industrial cooperation will be on transfer of technology, co-development and co-production, technology security, Artificial Intelligence, innovation and joint export to third countries.Israel has been among the top four arms suppliers to India for almost two decades now, notching military sales worth around $1 billion every year. “With the Indian defence industry now also becoming stronger, the need was felt for the two countries to establish more R&D, co-development and co-production projects,” said a senior official on Friday.“Israel is a world leader in missiles, sensors, cyber-security and various defence sub-systems,” he added. The SWG will be headed by Sanjay Jaju, joint secretary (defence industries production) in the Indian defence ministry and Eyal Calif, director Asia & Pacific from the Israeli one.This comes at a time when the Indian armed forces are inducting the next-generation Barak-8 surface-to-air missile systems under three joint DRDO-Israeli Aerospace Industries (IAI) projects worth over Rs 30,000 crore.Israeli companies like IAI, Rafael Advanced Defense Systems, Elbit and Elta Systems have also formed seven joint ventures with Indian companies. An MoU, for instance, was inked between the Kalyani Group and Rafael on Thursday.The secretive bilateral military ties, which grew after Israel rushed emergency arms supplies to India during the 1999 Kargil conflict, have largely come out of the closet after the Modi government came to power in 2014.The Indian armed forces have inducted a wide array of Israeli weapon systems over the years, which range from Phalcon AWACS (airborne warning and control systems) and Heron, Searcher-II and Harop drones to Barak anti-missile defence systems and Spyder quick-reaction anti-aircraft missile systems.The acquisitions also include a host of Israeli missiles and precision-guided munitions, from Python and Derby air-to-air missiles to Crystal Maze and Spice-2000 bombs. The Spice-2000 penetration bombs, in fact, were used by Indian Mirage-2000s fighters to bomb the JeM facility at Balakot in Pakistan in February last year.There are several other Indian defence deals in the pipeline for Israel. The IAF, for instance, is looking to seal the long-pending over $1.5 billion deal to acquire two more “Phalcon” AWACS or “eyes in the sky”.The Rajnath Singh-led defence acquisitions council last month also decided to fast-track `Project Cheetah’ to arm the Heron drones with laser-guided bombs, air-to-ground anti-tank missiles and other precision-guided munitions as well as advanced reconnaissance capabilities for around Rs 3,500-crore, as was reported by TOI.After 2014, the share of Israel in India’s arms market shot up, signifying healthy relations between both governments as well as Israel’s suitability to create its niche in the ‘Make-in-India’ oriented defence sector. Figure 3 shows the largest export markets for Israeli arms in the years between 2009 and 2018: India, the US, Turkey and Azerbaijan. In recent years, India has emerged as the largest among them all.Defence technologies imported by India from Israel (2009-18)AircraftHeron is the Medium Altitude Long Endurance (MALE) unmanned aerial system used for intelligence, surveillance, target acquisition and reconnaissance purposes.It is a high-endurance drone that can fly to heights of up to 35,000 ft. for more than 45 hours at a time. It has a visual line-of-sight (LOS) range of 350 km and beyond line-of-sight (BLOS) range of 1,000 km. For the BLOS operations, the visual feed is transmitted to the control room via satellite communication (SATCOM). As India shares a long border with its potential adversaries in both the western and eastern fronts, the use of drones for intelligence gathering makes this highly efficient. Moreover, harsh weather and complex terrain in conflict-prone regions in India’s north hinders manual operations. An all-weather aircraft like Heron can provide an edge in these conditions. In 2009, 16 such drones were ordered by India for US$239 million; these were delivered in 2012-13.In 2016, the government also approved a US$400-million plan to procure the Heron TP-XP variant which is specially designed to cater to the needs of international customers using a variety of payloads.As of February 2019, India was in talks for buying Heron-1 long endurance reconnaissance UAVs.Searcher is a multi-mission tactical UAV for surveillance, reconnaissance, target acquisition, artillery adjustment and damage assessment.Capable of real-time gathering and data transmission, it can continuously fly for up to 20 hours within a range of 300 km. Apart from the smaller size and reduced radar detection, the four-stroke silent gasoline engine ensures audio stealth that makes it stand out from Heron. In 2010, India procured two Searcher Mk-II drones from Israel.In December 2018, Adani Defence and Elbit systems inaugurated the first India-Israel joint venture in defence at Hyderabad.This facility will manufacture high-technology, cost-effective Hermes 900 to be deployed in all-weather terrains. Hermes 900 is also a multi-use MALE UAV.Air Defence SystemsIn 2008, India ordered the SPYDER-MR air defence system from Israel. SPYDER is a low-level quick reaction missile (LLQRM) system developed by Rafael Advanced Defence Systems, an Israeli defence-technology company.It is used to protect critical infrastructure in ground-to-air missions from wide-spectrum of incoming air-borne threats ranging from aircrafts, helicopters, UAVs, precision-guided munitions (PGMs). It offers both lock-on before launch (LOBL) and lock-on after launch (LOAL) capabilities with I-Derby and Python-5 missiles. The Medium Range (MR) version of SPYDER (Surface-to-air Python-5 Derby) purchased by India offers target interception through vertical launch, thereby creating a protective dome of 80 km radius. It uses electro-optic payloads and wireless data link communications to ensure all-weather, multi-launch and network-centric capabilities. India successfully test fired the SPYDER-MR system in May 2017.The surface-to-air missile BARAK can also be deployed as low-range air defence (LRAD) interceptor. In India, the BARAK-LRAD version is known as BARAK-8 (for naval vessels) or Medium Range Surface-to-Air Missile (MRSAM) system (for land-based launchers). It has vertical launch capabilities till 70 km height and supports 360° manoeuvrability. Imbibed with an active high-end RF seeker for targets, BARAK also has low launch signature.In 2018, the Cabinet Committee on Security headed by Prime Minister Narendra Modi approved the project worth INR 170 billion (US$2.5 billion) for procuring MRSAM for the army.These missiles will be jointly developed by Israeli Aerospace Industries (IAI) and Defence Research and Development Organization (DRDO) in a boost to Make-in-India in defence.MissilesAlthough Israel is not a leading exporter of heavy weaponry like combat aircraft, battle tanks and naval vessels, it is one of the best in providing technology and ammunition for such systems. In the last 10 years, India has imported a diverse range of missiles from Israel, including beyond visual range air-to-air Missile (BVRAAM), guided bombs, loitering ammunition and surface-to-air (SAM) missiles. These missiles are multi-purpose and are launchable from all land, water and air-based platforms.The BVRAAM arsenal of IAF includes the Rafael-produced missiles Python-5 and Derby. Python-5 is a full-sphere infrared air-to-air missile, i.e. it can be fired in any direction and azimuthal angle. Endowed with a unique LOAL and LOBL feature, it is a dual-use missile which can also be fired from the surface. Fitted in the SPYDER air defence system. Python-5 has a unique ability to be adaptable in a plethora of aircraft. It is especially useful for IAF due to its diverse fleet consisting of Mirage-2000, Jaguar, MiG-21, MiG-29, Su-30 with Tejas light combat aircraft (LCA) soon to join.Python-5 is complemented by Derby, an active radar air-to-air missile which can be used for both short ranges and Beyond Visual Range (BVR) interceptions.India placed an order for 750 Python-5 and Derby missiles each in 2008; they were delivered by 2017, since then constituting the backbone of India’s air defence system. It was a Derby that shot down the Pakistani patrolling drone after the Balakot air strikes in February 2019.The IAF combat squadrons are supported by Israeli guided bombs SPICE-2000 and Griffin. The Spice guidance kits upgrade the general missile warheads into lethal automation-guided precision strike bombs. They can be adapted to different aircrafts and can bomb up to 60 km range. Produced by Rafael Advanced Defence Systems, the SPICE-2000 is a highly advanced bomb that uses a unique image-matching algorithm to hit its targets.The algorithm compares the real-time electro-optic imagery of the mission site with the already fed information (in the bomb) of the target acquired through surveillance. Once these images match, the Spice automatically launches the warhead into the target with high precision (up to 95-percent accuracy). For instance, SPICE-2000 were fitted into Mirage-2000 fighter aircraft that performed the Balakot air strikes in February 2019.IAF bought 100 Spice-kits from Israel in 2008-09 and again signed an INR 3-billion deal in June 2019 to procure another batch that is expected for delivery in the last quarter of 2019.The IAI-made Griffin uses a laser-guided module, especially for combat aircrafts to conduct high-precision strikes (with CEP < 1.5 m) against ground targets.It can take several trajectories to counter the air defence system of the adversary. Griffin can also be launched from ground-based platforms.Loitering munition (or kamikaze/suicide) drones combine the features of UAVs and guided bombs. They loiter around the target area for some time after which they lock on to their targets and destroy them. Developed by IAI, HAROP is an electro-optically guided weapon that is highly suited to shoot down moving targets.It operates within a range of 200 km and can endure more than nine hours of flight on one refuelling. India inducted 50 Harop suicide drones in 2013-14 as part of a US$100-million deal.New Delhi further approved the purchase of 54 more drones in February 2019.The Crystal Maze is an Indian variant of the air-to-surface (ASM) missile AGM-142A Popeye – jointly developed by the Israeli-based Rafael and US-based Lockheed Martin.It can be used to strike targets at a distance of 75-80 km – both on land as well as sea – with high precision (CEP < 3 m).Owing to its high range, the carrier aircraft does not have to approach the surface and thus protected from enemy air defence systems. In 2010, India imported 30 Crystal Maze from Israel which were also used in the Balakot air strikes alongside SPICE-2000 PGBs.SensorsIndia has purchased numerous sensors from Israel for reconnaissance and intelligence purposes for its naval vessels and aircrafts. Most of them are EL/M-series radars are constructed by ELTA systems with IAI and used for ground surveillance, multi-purpose, air search and fire control radars.The major naval radars imported from Israel in the last 10 years include EL/M 2248 MF-STAR and EL/M-2221 STGR. The EL/M 2248 MF-STAR is a digital active electronic-scan array (AESA) multi-function radar used for maritime surveillance.With a range greater than 250 km (corvette version) and 450 km (frigate version), 360° azimuth coverage and elevation coverage of -20° to +85°, it can be used for blue water and littoral warfare support. In 2013, the government approved four more radars to deployed on the INS Visakhapatnam (Project-15B) destroyers.In 2016, India imported the multi-function radar for the indigenous Kolkata-class (Project-15A) destroyer.The EL/M-2221 STGR (Search Track and Guidance/Gunnery Radar) is a fire control radar that guides the warhead to air or sea-based targets.From 2015 to 2017, India imported the STGR radar from 2015-2017 to make INS Kolkata, INS Shivalik and Kamorta-class frigates compatible for deploying BARAK-8 SAM missiles.In 2014, India placed an order of the four STGR radars that will be fitted in the INS Visakhapatnam.The EL/M-2032 is multi-mode airborne fire control radar is designed for strike missions in air-to-air combat and air-to-sea combat.In 2016-18, nine EL/M 2032 were imported from IAI for the Tejas LCA Mk-I combat aircraft.The airborne warning and control system (AWACS) EL/M-2075 Phalcon, also hailed as IAF’s “eyes in the skies”was first inducted in 2009 after a US$1.1-billion deal with IAI. Three AWACS were installed on the Russian transport aircraft IL-76 in a trilateral agreement.Phalcon performs the surveillance and intelligence gathering beyond the visual range to warn against the incoming missiles or aircrafts in the airspace.What makes Israel a good arms supplier to India?India suffers from many constraints in defence production and acquisition including lack of technical expertise, complex bureaucracy, lack of manufacturing infrastructure, inadequate funding, cost overruns, and project delays.Israel fills these shortcomings by supplying ready-to-use critical technologies, even on short notices. Instead of manufacturing-intensive heavy weaponry, Israel has created its niche in the market with its innovation-backed technologies such as UAVs, missile defence systems, avionics, precision-guided munitions and surveillance radars.The Israeli imports are instrumental for India in patrolling and surveillance purposes in peacetime and eases the operational ability of armed forces in wartime. For instance, the missile defence systems, PGBs, and ammunition provided by Israel played a crucial role in controlling the escalation between India and Pakistan post-Balakot air strikes.The export-oriented Israeli defence industry and its openness to establishing joint ventures complement both ‘Make in India’ and ‘Make with India’ in defence. After the end of the Cold War, India managed to significantly diversify its list of suppliers (See Fig. 1). Indian armed forces need technologies and ammunition that are adaptable to different weaponry. Israeli arms can be flexibly deployed to various wings of the military, which simplifies the operation during mission time. As its defence industry forms a vital part of the Israeli economy, it has developed the expertise to customise its arms according to the requirements of its customers.Israel has always been a ‘no-questions-asked supplier’, i.e., it transfers even its most advanced technology without placing limits to its use. Some of the Israeli technologies utilise US components because of which the US has veto powers over the sale of those technologies.With improving strategic understanding between India and the US – especially as the US sees a major role for India in maintaining the balance of power in the Indo-Pacific– more technologies are likely be transferable in the future. These factors make Israel a potential ‘all-weather’ defence partner for India.Beyond arms transfersIn the last two decades, strategic cooperation between Israel and India has expanded from arms trade to space and counter-terrorism and intelligence sharing. For instance, the Indian Space Research Organization (ISRO) has teamed up with the Israel Space Agency (ISA) for joint programmes in space cooperation. ISRO launched TecSAR – the Israeli Synthetic Aperture Radar (SAR) satellite – in January 2008, which was followed by the launch of the IAI-assisted India’s own radar imaging satellite RISAT-2.India and Israel also signed a Memorandum of Understanding (MoU) on cyber security during the state visit of Prime Minister Netanyahu to New Delhi in January 2018.The MoU seeks to promote cooperation in skill development and training programmes in the field of cyber security. The booming industry expertise in Israel can compensate for the lack of cyber infrastructure in Indian industries. For instance, the total amount of funding secured by Israeli cyber security-based start-ups in 2018 was US$1.03 billion.The large market for cyber operations in India can help these incubating start-ups. The MoU also envisions to promote B2B operations in cyber security operations and organising summits. The Indian company Tech Mahindra is collaborating with the Israel-based ELTA systems to provide cyber solutions to government and enterprise customers in the country.The strategic cooperation between India and Israel carries immense potential and is only set to grow further. The arms trade will remain the bedrock of this bilateral engagement as the two nations seek a wider convergence. The arms trade between New Delhi and Tel Aviv has ensured that bilateral ties—which may have wavered in the past—have become sustainable in recent years. With the ideological and leadership winds blowing in favour of a burgeoning partnership, the time is ripe for India to harness the technological expertise from Israel to modernise an ailing indigenous defence industry.Source: Defence News, Indian Defence News, IDRW, Indian Armed Forces, Indian Army, Indian Navy, Indian Air Force / Observer Research Foundation | ORFJAI HIND.