New Delhi: India Defence Minister Rajnath Singh will inaugurate the 3-day international conference on Defence Finance & Economics on Wednesday, 12 April.
“The conference, organised by Defense Ministry will provide a platform for prominent policymakers, academics and government officials from within the country and abroad to share their insights and vast experiences on Defence Finance and Economics in the context of evolving security challenges and policies globally," the Ministry of Defence said. “Delegates from UK, USA, Japan, Sri Lanka, Australia, Bangladesh and Kenya will participate in the meet."
By utilising the most effective financial resources and the efficient implementation of the defence budget, the conference aims to promote communication and cooperation among attendees and contribute to the nation's defence readiness. It intends to take part in international talks on defence finance and economics and offer a viable solution.
The conference's goal is to share the best practises, knowledge, and experience of diverse nations while also bringing Indian processes into line with global best practises.
In order to support the Government's ongoing efforts to indigenize and become self-sufficient in the Defense sector, as well as to advance transformative reforms, it also hopes to facilitate collaborations with other governments, international organisations, and world leaders in the field of defence finance and economics.
Current issues and opportunities in the field of defence finance and economics will be covered, including how to allocate and use resources effectively and efficiently as well as how to manage logistics in a cost-conscious manner.
The participants will also discuss the most recent advancements and breakthroughs in defence research and development, according to the ministry, as well as various models and practises of finance and economics related to defence acquisition around the world.
Moreover, best practises for managing human resources in the military will be discussed, covering matters pertaining to pay, pensions, and the welfare of military personnel as well as the role & duties of oversight mechanisms within defence ecosystems.
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