ADAG chairman Anil Ambani on Wednesday blamed the over-reach of bodies like CVC, CAG and CBI for the slowness in policy decisions, which he said was severely impacting private sector investments in the country.
At the inaugural of the CEO conference on the theme “Make India in defence manufacturing” at Aero India 2015 , Anil Ambani said,”Decision making in India in the defence sector is today hamstrung by sheer regulatory censure and investigative over reach. The long shadow of three Cs — the CBI, CVC and CAG — is leading to a lack of initiative and decision making at all levels of the government. This needs to be changed and we need to have two new Cs added – courage and conviction.” The Reliance Group has evinced interest of getting into the defence sector like many other private sector players in the country.
Ambani cited the example of coal block auction ordinance where the bureaucracy now has the necessary protection and sought similar initiative for defence procurement. “The modernisation of India’s armed forces cannot be held hostage to mindless vascillation and indecisiveness. Indeed the delays in defence procurement has perhaps caused a greater loss to the exchequer than any alleged impropriety,” he remarked.