Procurement process for armed forces to be expedited: Jaitley

Tags: News
The "slow pace" of acquisition of weapon systems is a matter of concern and the new government will work towards "expediting" the procurement process to meet the requirements of the armed forces, Defence Minister Arun Jaitley said here today.

After attending the Naval Commanders' Conference, he hinted that demand of the armed forces for more funds in the budget was likely to be accepted as the "entire resource of the country, notwithstanding various pressures, has to make available a significant amount for those in defence of the country".

"The key subject matter of concern appears to be the slow pace of acquisition of whatever equipment and assets are required. The Navy has highlighted that....Hope of the forces is that their requirements should be fulfilled and the process should also be expedited. The effort of the government would be to work in that direction," Jaitley said.

Talking to reporters after a detailed interaction with the top brass of the Navy at the commanders' conference, the Minister said, "There are several decisions in the pipeline and I think there is a good case for these processes to be expedited."

The Navy has several acquisition projects stuck for many years due to slow procurement process, including the Rs 6,000 crore 16 multirole helicopter project and the acquisition of torpedoes for the Scorpene submarines.

Its tender for acquiring six new submarines under Project-75 India, estimated to cost over Rs one lakh crore, is also stuck as the government has to alter a 1999 decision to build all future submarines only indigenously.

The Navy is also waiting for final clearance to acquire 16 mine countermeasure vessels from a South Korean firm which has been stuck after complaints were filed against the fairness of the process under the previous government.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Exchange managements must distinguish between speculation and gambling

    Every bull run in the Indian equity market raises the spectre of excessive speculation.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Roopen Roy

Building smart cities the Indian way

Today more than half of the world’s population lives in ...

Zehra Naqvi

The mere display of power is not success

The stars are not afraid to appear like fireflies —Rabindranath Tagore ...

Dharmendra Khandal

Let the tiger breathe in its natural home

The world has been observing July 29 as International Tiger ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture