New Delhi, Nov. 29 -- India does not need a government-backed venture capital fund for its defence sector, said Defence Secretary of India, Rajesh Kumar Singh, stressing that assured government orders and faster contract approvals are enough to draw private investment into defence manufacturing.

Speaking at ANI's first-ever National Security Summit on Friday, Singh explained that the real driver of growth in the defence sector lies not in government-led venture capital initiatives but in timely orders and efficient procurement processes. "The funding for a defence startup or a defence MSME really depends on its order book," he said. "If we are giving them orders, then they will not have difficulty with funding."

While he did not complet...