Ajay Kumar wants 20 Indian companies in world’s top 100 defence enterprises
The Ministry of Defence (MoD) has set a target of Rs.1.75 lakh crore of defence production by 2025, which includes export of Rs.35,000 crore, 70%-80% of which would be produced by Defence Public Sector Units (DPSUs).
Sharing these goals, Defence Minister Rajnath Singh told the Non-Official Directors (NODs) and Chairmen-Managing Directors (CMDs) of DPSUs to work hand-in-hand to ensure that these public sector companies find place among world’s best in different fields.
He described NODs as a bridge between DPSUs and MoD, 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.
Addressing the NODS-CMDs at a first-of-its kind workshop organised by Department of Defence Production in New Delhi on 13 July 2022, Rajnath Singh asserted that the country is witnessing a transitional phase towards self-reliance and active and collective efforts are central to realise the vision of ‘Aatmanirbhar Bharat’.
Identifying freedom in giving suggestions as their biggest strength, he called upon the NODs to scrutinise the performance of the management according to the objectives of the government; make value addition to the decision making through positive inputs and constructive criticism as well as protect the interests of the DPSUs, the Government and above all the nation.
Rajnath Singh termed NODs as 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.
He highlighted the valuable contribution of NODs in helping the DPSUs reach their goals, urging them to introduce best practices prevalent in the private sector as well as share insights and guidance in policy making.
The NODs must encourage the DPSUs for greater R&D and motivate them for sensible risks, he added.
Lauding the DPSUs for their outstanding performance in recent years, the Minister called upon the CMDs to take appropriate action on the suggestions of NODs.
Throwing light on the roles and responsibilities of NODs, Defence Secretary Dr Ajay Kumar called for formulating a roadmap that can place 20 Indian defence manufacturing companies among the world’s top 100 defence enterprises by 2047. fiinews.com
