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| Indian Army Pinaka MBRL (Wiki Info - File Photo) |
By Vivek Raghuvanshi
NEW DELHI — An Indian Defence Ministry committee recommended that private sector companies undergoing debt restructuring be barred from participating in major defense projects under the "Make in India" category.
The committee, headed by former Home Secretary Dhirendra Singh, also recommended that select private sector companies be nominated as strategic partners in defense projects, raising them to an equal level with state-owned defense companies.
The committee recommendations were submitted to the MoD and could help shape the next Defense Procurement Procedures review, said an MoD source who did not want to be named.
While analysts and officials unanimously support the idea of nominating select private sector companies as strategic partners, there is disagreement regarding the committee recommendation to block those private sector companies undergoing corporate debt restructuring (CDR).
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