Rajnath Singh Recognizes HAL as First DPSU Maharatna, Receives Dividend Cheques Totaling Rs. 1620 Cr

To boost self-reliance, Shri Singh called for improvements in the production capacity, quality of products, and timely delivery to the Armed Forces.

In a crucial meeting aimed at bolstering India's defence capabilities, Raksha Mantri Shri Rajnath Singh conducted a comprehensive review of Defence Public Sector Undertakings (DPSUs) at South Block in New Delhi on October 29, 2024. During the review, he emphasized the critical role of indigenisation and technological advancement within DPSUs to fortify the country's defence infrastructure and enhance the Armed Forces' preparedness.

Push for Indigenous Development and Technology Innovation

Shri Rajnath Singh urged DPSUs to accelerate efforts in Research & Development (R&D), aiming for breakthroughs in defence technology that align with India's self-reliance goals under Atmanirbhar Bharat. He also highlighted the importance of increasing export capacity and furthering indigenous manufacturing to establish India as a global defence production leader.

To boost self-reliance, Shri Singh called for improvements in the production capacity, quality of products, and timely delivery to the Armed Forces. He noted that such efforts are key to enhancing India's defence posture and ensuring the readiness of the Armed Forces.

HAL Achieves Maharatna Status – A Landmark for DPSUs

In a significant milestone for the defence sector, Hindustan Aeronautics Limited (HAL) was awarded Maharatna Status, making it the 14th public sector company in India to achieve this recognition and the first DPSU to reach this elite status. HAL's elevation to Maharatna acknowledges its outstanding contribution to Indigenous defence production and its substantial financial performance. Raksha Mantri congratulated HAL's CMD and encouraged other DPSUs to aspire to Maharatna and Navratna statuses, aiming for greater autonomy, operational flexibility, and investment capabilities.

Secretary (Defence Production) Shri Sanjeev Kumar provided an update on the financial performance and status of DPSUs and discussed ongoing initiatives to further R&D, enhance export potential, and strengthen Make in India efforts within the defence sector.

Dividend Cheques Worth Rs. 1620 Cr Presented to Raksha Mantri

To underline their financial performance and commitment to supporting the government's defence objectives, seven DPSUs presented dividend cheques amounting to Rs. 1620 Crore to Raksha Mantri at the conclusion of the meeting. Participating DPSUs included Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), BEML Limited, Bharat Dynamics Limited (BDL), Mazagon Dock Shipbuilders Limited (MDL), Garden Reach Shipbuilders & Engineers Ltd (GRSE), and Goa Shipyard Limited (GSL).

The Raksha Mantri praised these DPSUs for their financial contributions and urged them to continue supporting India's mission of strengthening indigenous defence production capabilities. The meeting also explored strategies to streamline DPSU operations and enhance collaboration between defence companies and the Armed Forces.

Strengthening India's Defense Sector Through Visionary Initiatives

India's defence sector has witnessed rapid growth and modernisation, supported by policies aimed at self-reliance and innovation in defence technology. Under the leadership of Raksha Mantri, DPSUs are being encouraged to adopt advanced technology, ramp up exports, and focus on research-driven solutions to meet global standards. The recent Maharatna recognition for HAL is seen as a testament to this vision, and other DPSUs are expected to follow in strengthening India's defense ecosystem for the coming decade.

Shri Rajnath Singh emphasized the need for continued reforms, international collaborations, and technological upgradation within the defence industry to meet future security challenges. The meeting underscored India's commitment to creating a robust, self-sustaining defence industry that can respond to both domestic and global demands for advanced defense solutions, moving towards the vision of Atmanirbhar Bharat.