India does not need a government-backed venture capital fund for its defence sector, Defence Secretary Rajesh Kumar Singh said, stressing that assured government orders and faster contract approvals are enough to draw private investment into defence manufacturing.
Defence Secretary Rajesh Kumar Singh on Friday referred to the 'Mission Sudarshan Chakra' announced by Prime Minister Narendra Modi in his Independence Day speech this year and said "work has started on adding value to the multi-layered air defence system more modern technologies".
He stated that to curb delays the government is looking to introduce new regulations and policy changes to ensure a case where delivery is not completed within one year will be "foreclosed".
Speaking at ANI's National Security Summit in New Delhi, he said, "... There are no challenges, we have enough resources, and I am sure that the Finance Ministry can provide us with additional support if required..."
"Potentially S-400 not ruled but don't expect any announcements during this. This meeting will focus on the broader elements of Cooperation on defence between the 2 sides. We'll try to ensure that some of these delivery delays are ended and we start getting clearer answers in terms of whe
A Division Bench of Justices Anil Kshetarpal and Harish Vaidynathan Shankar delivered the judgment, bringing an end to the inquiry initiated by the Lokpal earlier this year.
Talking about the delay in S-400 air defence system from Russia, and the delays in orders from Israel, the Defence Secretary said that both the countries are facing supply chain issues due to the ongoing conflict in their respective regions.
At Pithoragarh, he was briefed on major operational matters by the General Officer Commanding, Uttar Bharat Area, and the Commander of 119 (I) Infantry Brigade Group on key operational aspects.
Defence Secretary Rajesh Kumar Singh met the Ambassador of Chad to India, Ildjima Badda and held discussions on deepening military cooperation between New Delhi and N'Djamena.
Defence Secretary Rajesh Kumar Singh has underlined the need for a structured policy framework to strengthen India's domestic industrial base through a balanced synergy between public and private sectors.