Jaitley, who has been holding the defence portfolio, said due to logistical constraints, he will be attending the security dialogue.
Sitharaman will be the first woman full-time defence minister. Finance Minister Jaitley was holding additional charge of the ministry after Manohar Parrikar quit to become the Goa's chief minister in March.
Also Read
He said, "I will continue for the next two days and participate. Sitharaman will take charge of the ministry as soon as the dialogue ends."
Jaitley, one of the seniormost ministers in the Modi Cabinet, was in charge of the defence ministry between May 26 and November 9, 2014, also.
As the defence minister in his second stint, Jaitley took a number of key decisions aimed at modernisation of the armed forces and to support the domestic defence industry.
In May, the defence ministry, after years of deliberations, had approved the strategic partnership model under which select private firms would be roped in to build military platforms like submarines and fighter jets in India in partnership with foreign entities.
"I think this was a very fruitful and deep association where we were able to take some very important decisions which were pending for years and I am sure now that I have an extremely competent successor in Sitharaman. She will carry that role further," Jaitley said.
Seen as a major initiative, the 'strategic partnership (SP) model' aims at creating a vibrant defence manufacturing ecosystem in the country through the involvement of both the major Indian corporates as well as the micro, small and medium enterprises sector.
On August 30, the government had announced major reforms in the Indian Army to enhance its combat capability which includes redeployment of nearly 57,000 officers and other ranks.
Jaitley also thanked officers and employees of the defence ministry and members of the Armed Forces for their cooperation.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
)