Defence Secretary Lauds IFA in Driving Financial Reforms

10 Apr 2025 CW Team

At the Integrated Financial Advisors (IFA) Conference 2025 held in Hampi, Karnataka, Defence Secretary Rajesh Kumar Singh praised the role of IFAs in promoting transparency, accountability, and responsiveness within India’s defence financial system. The two-day event, organized by the Defence Accounts Department (DAD) under the Ministry of Defence, took place from April 3–4.

Singh echoed Defence Minister Rajnath Singh’s vision for DAD to become a Centre of Excellence in Defence Finance and Economics. He emphasized the need for research-driven policy advice, cost-benefit analysis in procurement, and the use of AI-based financial analytics.

He also highlighted key achievements, including the DAD’s 100 per cent capital budget utilization in 2024–25 — a first in five years — and the impact of Project SAMPURNA, which uses AI, machine learning, and data science to streamline procurement, payments, and accounting.

The conference included six focused sessions that explored the role of financial advisors in capital acquisitions, challenges in the IFA system for Military Engineer Services, and discussions on Army Commander Special Financial Powers and outsourcing in defence operations.

In his opening remarks, S.G. Dastidar, Financial Advisor (Defence Services), noted the IFA system’s expansion in line with India’s growing defence needs and the increased delegation of financial authority. He stressed the importance of standardized processes, robust data systems, and strong coordination between IFAs and Controllers of Defence Accounts (CDAs). CGDA Dr. Mayank Sharma also addressed the evolving role of financial advisors and the transformative impact of Project SAMPURNA.

Real Estate

26 Jun 2026

AGM Vijaylaxmi launches Sixty3 W.E. Bizpark

AGM Vijaylaxmi Group has launched Sixty3 W.E. Bizpark, a mixed-use commercial development in Goregaon East, Mumbai. The project includes contemporary office spaces and a high-street retail component designed to support businesses, retailers and professionals.Located along the Western Express Highway, Sixty3 W.E. Bizpark is planned as a G+25-storey commercial tower. It offers office spaces ranging from 545 sq ft to 3,200 sq ft, with a 3.60 metre floor-to-floor height aimed at improving spatial comfort, natural light and operational efficiency.The project features a high-street retail boulevard ..

Manglam Group to Develop Sheraton Hotel in Jaipur

Manglam Group has signed an agreement with Marriott International to develop a Sheraton hotel on the Jaipur–Ajmer Highway in Jaipur. The project will feature 220 keys and is being developed with an investment of around Rs 3.5 billion across more than 300,000 sq ft.The hotel marks Manglam Group’s third collaboration with Marriott International and forms part of its Rs 10 billion hospitality investment roadmap. The agreement was signed by Amrita Gupta, Director, Manglam Group and CEO, Manglam Spa and Resorts, and Rajeev Menon, President, Asia Pacific excluding Greater China, Marriott Interna..

India Warehousing Show 2026 opens at YashoBhoomi

India's warehousing, logistics, and supply chain ecosystem came together as the 15th edition of India Warehousing Show (IWS) 2026 opened at YashoBhoomi, India International Convention & Expo Centre (IICC), Dwarka, New Delhi on June 25 (Thursday). Organised by RX India, the three-day event will run from 25-27 June 2026, bringing together policymakers, industry leaders, technology providers, and supply chain professionals under one roof. It also features a two-day knowledge conference that will run alongside the exhibition. Inaugurated by Pankaj Kumar, Joint Secretary - Logistics, DPIIT..