Context:- Defense Minister Rajnath Singh inaugurated the three-day International Conference on Defense Finance and Economics in New Delhi on April 12, 2023.
An overview of the news
- The conference is organized by the Ministry of Defence.
- It will provide a platform to eminent policy makers, academicians and government officials from home and abroad to share their insights and experiences on defense finance and economics in the context of emerging security challenges and policies globally.
- Delegates from USA, UK, Japan, Australia, Sri Lanka, Bangladesh and Kenya are participating in the conference.
Objective of the Conference
- To promote dialogue and cooperation among the participants and contribute to the defense preparedness of the country with optimum financial resources and effective implementation of the defense budget.
- Participating in global discussions on defense finance and economics and proposing a sustainable roadmap on the subject.
- To disseminate the best practices, experiences and expertise of various countries and align processes in the Indian context with international standards.
The topics of discussion
- Current challenges and opportunities in the areas of Defence Finance and Economics, such as how to allocate and use resources efficiently & effectively.
- Different models and practices of finance and economics related to Defence Acquisition around the world.
- Latest developments and innovations in Defence Research and Development.
- Best practices on managing human resources in Defence, including issues related to pay, pensions and welfare of Defence Personnel and the role & functions of oversight mechanisms within defence ecosystems.
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Defence Finance and Economics,Defence Finance and Economics
