What TV doesn't, print can't; we deliver.
What TV doesn't, print can't; we deliver.
NEW DELHI: The defence ministry has set a target of producing defence equipment worth Rs 1.75 lakh crores by 2025, defence minister Rajnath Singh said on Wednesday adding that equipment worth Rs 35,000 crores would be exported.
Addressing chief managing directors (CMDs) and non-official directors (NODs) of DPSUs at a first-of-its-kind workshop here, Singh said, “The ministry of defence has set a target of Rs 1.75 lakh crore of defence production by 2025, which includes the export of Rs 35,000 crore.”
“The country is witnessing a transitional phase towards self-reliance and active and collective efforts are central to realising Prime Minister Narendra Modi’s vision of ‘Aatmanirbhar Bharat’,” he further said.
Singh exuded confidence that the Defence Public Sector Undertakings (DPSUs) will play a major role in achieving this goal with a contribution of 70-80 per cent and urged CMDs and NODs to work hand-in-hand to ensure that these public sector companies find a place among the world’s best in different fields.
He exhorted non-official directors of DPSUs to ensure the smooth implementation of various initiatives taken by the government towards achieving the goal of self-reliance in the defence sector.
He also called the NODs “vigil keepers” who keep a close watch on the strategy, performance, risk management, resources, key appointments, CSR, sustainable development and standards of conduct of DPSUs.
The defence minister also urged them to introduce best practices of the private sector and share insights and guidance in policy making.
“NOD is a bridge between DPSUs and the defence ministry, which not only strengthens corporate governance in public sector companies but also ensures that the work is carried out as per the policies of the government,” he added.
Minister of state for defence Ajay Bhatt urged the NODs to strike a balance between the interests of the management and shareholders and contribute to decision-making.
