Operation Sindoor Boosts Global Demand for Indian Defence Equipment

In the wake of Operation Sindoor, Union Defence Minister Rajnath Singh has announced a significant rise in global demand for Indian defence equipment. Addressing the growth of the sector, he noted that military expenditures worldwide have soared to more than USD 2.7 trillion in 2024, presenting a substantial market for India.

Singh drew attention to India's Defence budget, which surpasses the GDP of several nations. He underscored the importance of prudent resource allocation to ensure both an increase in the budget and effective deployment of funds. By doing so, the Defence Ministry's responsibility in managing taxpayer money responsibly is heightened.

At the Controllers' Conference 2025, Singh praised the Defence Acquisition Council's decision to permit capital procurement from the GeM portal, marking a step forward for digital transformation. The conference, an essential forum for policy dialogue and strategic review in defence finances, aims to transform the Defence Accounts Department into a forward-thinking body.

The theme of the conference, 'Transforming Financial Advice, Payment, Audit and Accounting through Defence Finance and Economics,' reflects a strategic shift towards modernizing financial governance within the defence sector. Innovations such as SAMPURNA and SPARSH signify strides in digital transformation, enhancing efficiency and transparency in financial processes.

As India maneuvers within an expanding global defence market, the Controllers' Conference 2025 serves as a platform for evaluating challenges and initiating reforms, further establishing the Defence Accounts Department's pivotal role in managing a substantial defence budget.

(With inputs from agencies.)