No separate guidelines for JVs of defence PSUs

The guidelines issued by the DPE and the finance ministry will now also be applicable for the defence PSUs to set up joint venture companies.

GN Bureau | July 28, 2016


#Defence PSUs   #finance ministry   #joint venture  

 The government has decided to end existing guidelines for establishing joint venture (JV) companies by defence public sector undertakings (PSUs). The cabinet’s decision will provide a level-playing field in forging partnerships for defence PSUs such as Mazagon Dock, Goa Shipyard, Garden Reach Shipbuilders and Engineers, Bharat Electronics, Hindustan Aeronautics, Bharat Earth Movers, Bharat Dynamics, Mishra Dhatu Nigam, and Hindustan Shipyard.

The guidelines issued by the department of public enterprises (DPE) and the finance ministry from time to time will now also be applicable for the defence PSUs to set up JV companies.
 
The abolition of the existing JV guidelines will provide a level-playing field between defence PSUs and the private sector, as it will allow defence PSUs to forge partnerships in an innovative manner enhancing self-reliance in defence and providing for enhanced accountability and autonomy of defence PSUs.
 
There were issues regarding the operationalisation of JV guidelines of defence PSUs. The department of defence production came to the conclusion that with the increasing participation of the private sector in the defence sector and the transformation taking place in the defence acquisition ecosystem, the requirement of having separate JV guidelines for defence PSUs is no longer considered necessary.
 

Comments

 

Other News

“I wrote ‘Survival at Stake’ to provide food for thought about solutions”

Survival at Stake: How Our Treatment of Animals Is Key to Human Existence By Poorva Joshipura HarperCollins, 328 pages, Rs 499 With science now recognising animal consciousness, intelligence, emotion, and even morality, there must rise an awareness of

‘Bon Voyage’ through the Arctic: Exploring new horizons for India

India`s tryst with trade through the Arctic regions, including the Northern Sea Routes (NSR), has become an impact-making endeavor recently. The Arctic of yore is now a pivot – point of geopolitics, of climate change discussions, and for economic opportunities; 40% of oil and gas reserves said to be

Demystifying Contemporary Finance Theory and other lessons in investment

Investing Decoded: Simple Path To Building A Portfolio In Millions By Anirudh Rathore Penguin India, 320 pages, Rs 499

Deepfake: India to prepare four-point action plan

Deepfake has emerged as a serious threat to democracy and social institutions across the world. Propagation of deepfake content via social media platforms has aggravated this challenge. Ministry of Electronics and Information Technology (MeitY) has, from time to time, advised social media in

Mumbai traffic: Let’s use some simple math

Two level of roads not enough, BMC to have triple traffic jams through underground junctions There is no shortage of short-sighted traffic experts who believe that creating more vertical space (either above or below the level) in already overcrowded and congested cities will be cou

Seizures worth Rs. 1,760 crore reported in five poll-bound states

The Election Commission of India’s persistent efforts have led to a significant and exponential increase in seizures in the five poll-going states of Mizoram, Madhya Pradesh, Chhattisgarh, Rajasthan and Telangana. Seizures over Rs 1,760 crore have been reported in these five states since the announce

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter