The demand for Indian defense equipment has increased after Operation Sindoor, on Monday, Union Defense Minister Rajnath Singh said that the world military expenditure in 2024 has increased to more than 2.7 trillion, and a big market is waiting for India.
Speaking at the Comptroller Conference organized by DRDO, the Union Defense Minister said, “The world is looking towards our defense sector. The valor that our soldiers have shown during Operation Sindor, as well as the way we have demonstrated the capabilities of our household appliances, have increased the demand for our indigenous defense products. The demand for our indigenous defense products has increased. World military expenditure has increased more than $ 2.7 trillion in 2024.
Singh further mentioned that India’s defense budget is larger than the GDP of different countries of the world, which highlights the need to use resources correctly.
“… If you look at our defense budget, it is larger than the GDP of some countries of the world. When an important part of the hard work of the people is allocated to the Ministry of Defense, our responsibility increases rapidly-we increase effective development. Our defense expenditure should not be done, but it should also be used properly.
The Union Minister appreciated the decision of the Defense Acquisition Council for permission for capital purchase from the Ratna Portal.
He said, “The Defense Acquisition Council has allowed capital purchases from the Gem portal for the first time, it is a commendable step … I have also been informed that the department is working on a comprehensive pay system and centralized database management for defense personnel …”
The Union Minister further said, “… You have organized a controllers conference, but I think your mind should be open and receptive, so that you can discuss and share the changes in defense ecosystem with all the stakeholders. Such events give you a chance to introspect and self-realization.
Defense Account Department (DAD) Dr. The Controllers Conference is hosting 2025 from 7-9 July at SK Kothari Auditorium, DRDO Building, New Delhi.
The conference was inaugurated today by Defense Minister Rajnath Singh in the presence of top military and civil leadership, including Defense Staff General Anil Chauhan, three service heads, defense secretary Rajesh Kumar Singh, Financial Advisor (Defense Services) SG Dastir, and Comptroller of Defense Accounts, including Comptroller General Myank Sharma of Defense accounts, marking India’s defense financial architecture as an important platform.
A major platform for policy dialogue, strategic reviews and institutional innovation, the Comptroller Conference brings the top leadership together from the father, civil service, academics, the think tanks and stakeholders in the defense and finance fields.
It serves as an important platform to evaluate challenges, start reforms and pursue the role of financial governance in defense preparations.
The theme of this year’s conference, ‘Financial advice, payment, audit and accounting through defense finance and economics,’ reflects a paradigm change within the department, prepares father from a finance and accounting body for the institution prepared for the future focused on defense finance and economics.
The change, directed by the strategic vision expressed by the Defense Minister on 1 October 2024, align with internal -operated, inclusive and emerging national security mandatory. In
The conference consists of eight high-level commercial sessions (Manan Satra), which covers areas such as budget and improvement in accounts, internal audit reorganization, collaborative research, pricing innovation and capacity building.
These sessions will detect the developed role of integrated financial advisors (IFAS) in balanced fiscal discretion with strategic support for competitive and self -sufficient defense industry.
Management of a defense budget of Rs 6.8 lakh crore, including a dedicated Rs 1.7 lakh crore dedicated to pension, Dad plays an important role in parole, pension disbursement, audit, procurement pricing and strategic financial advice. In the last one year, the department has made significant progress in digital changes, such as with major reforms: – –
Sampurna: an AI-run, end-to-end automation system, transparency and agility for defense procurement and payment
Sparsh: Now serving more than 32 lakh pensioners, this digital platform has again defined pension distribution with transparency and access
Spars Van: A mobile outreach innovation was launched in Tamil Nadu, which directly delivers the pension services to the veterans door
E-Raksha Awas: Automated recovery of more than Rs 500 crore in rent, produces Rs 2,700+ crore in rent bill
Defense Travel System (DTS) and AI-based purchase equipment: Build a smart, data-focused financial network for defense. (AI)