Deliver within a year or face foreclosure: Defence Secy to firms
The Indian defence sector has been grappling with the issue of delayed orders from companies, both domestic and international. The delays have been a cause of concern for the government, as they impact the country’s defence preparedness and national security. In a bid to address this issue, Defence Secretary Rajesh Kumar Singh has taken a tough stance, warning companies that they must deliver their orders within a year or face foreclosure.
Singh’s comments come at a time when the Indian government is in the process of modernizing its defence forces, with a focus on indigenous production and procurement. The government has set ambitious targets for the defence sector, with a goal of achieving self-reliance in defence production and reducing dependence on foreign imports. However, the delays in delivery of orders have been a major hurdle in achieving these targets.
According to Singh, the government has taken a tough stand in the current round of purchases, with a clear message to companies that they must deliver their orders within a year. “In the current round of purchases, we have taken a tough stand…in any case where delivery is not done within one year, [it] will all be foreclosed and I intend to ensure it is done,” Singh said.
The Defence Secretary’s comments are a clear indication of the government’s frustration with the delays in delivery of orders. The government has been patient with companies, giving them extensions and warnings, but it seems that the patience has worn thin. The threat of foreclosure is a serious one, and companies that fail to deliver their orders on time will face severe consequences.
The issue of delays is not limited to domestic companies; foreign firms have also been guilty of delayed deliveries. Singh noted that delays are not only domestic but also from abroad, highlighting the global nature of the problem. This is a cause of concern, as India relies heavily on imports to meet its defence needs.
The Indian government has been working to promote indigenous defence production, with initiatives such as the “Make in India” programme. The programme aims to encourage domestic manufacturing and reduce dependence on foreign imports. However, the delays in delivery of orders have hindered the progress of this initiative.
The Defence Secretary’s warning to companies is a step in the right direction, as it sends a clear message that the government will no longer tolerate delays. The government is keen to modernize its defence forces, and it needs companies to deliver their orders on time to achieve this goal.
The consequences of foreclosure will be severe for companies that fail to deliver their orders on time. Foreclosure will not only result in financial losses for companies but also damage their reputation and credibility. Companies that are foreclosed will find it difficult to secure future contracts, which will have a long-term impact on their business.
The government’s tough stance on delays is a welcome move, as it will help to promote accountability and discipline in the defence sector. Companies will be forced to prioritize their deliveries and ensure that they meet their deadlines. This will help to improve the overall efficiency of the defence sector and ensure that the country’s defence needs are met on time.
In conclusion, the Defence Secretary’s warning to companies to deliver their orders within a year or face foreclosure is a clear indication of the government’s frustration with the delays in the defence sector. The government is keen to modernize its defence forces, and it needs companies to deliver their orders on time to achieve this goal. The consequences of foreclosure will be severe for companies that fail to deliver their orders on time, and it is hoped that this will promote accountability and discipline in the defence sector.
The Indian government’s efforts to promote indigenous defence production and reduce dependence on foreign imports are commendable. The “Make in India” programme is a step in the right direction, and it is hoped that it will help to promote domestic manufacturing and reduce delays in the defence sector.
As the Indian defence sector continues to evolve, it is essential that companies prioritize their deliveries and ensure that they meet their deadlines. The government’s tough stance on delays is a welcome move, and it is hoped that it will help to promote accountability and discipline in the defence sector.
In the end, the Defence Secretary’s warning to companies is a clear indication of the government’s commitment to modernizing its defence forces and promoting indigenous defence production. It is hoped that companies will take this warning seriously and prioritize their deliveries to avoid foreclosure.
News source: https://www.ndtvprofit.com/amp/business/defence-secretary-warns-industry-deliver-in-a-year-or-face-foreclosure
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