Govt taps MSMEs, startups for defence tech, sanctions Rs 1,264 cr projects

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Govt taps MSMEs, startups for defence tech, sanctions Rs 1,264 cr projects

^{Published on 2024-12-06 10:32:44 - Business Standard}

India's transformation into a defence tech hub is being driven by initiatives to promote innovation, self-reliance, and collaboration among startups, MSMEs, and academia

The Indian government has initiated a significant push towards enhancing its defense capabilities by engaging Micro, Small, and Medium Enterprises (MSMEs) and startups in defense technology development. On December 6, 2024, the Ministry of Defence announced the sanctioning of 111 projects worth Rs 1,264 crore under the Technology Development Fund (TDF) scheme. These projects aim to foster innovation in critical defense technologies, including unmanned aerial vehicles, artificial intelligence, and advanced materials. The initiative not only seeks to reduce India's dependency on foreign military hardware but also to promote self-reliance in defense manufacturing. The TDF scheme, managed by the Defence Research and Development Organisation (DRDO), supports these entities by providing financial assistance, access to testing facilities, and expert guidance, thereby encouraging indigenous development and potentially leading to significant advancements in defense technology.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/external-affairs-defence-security/news/govt-taps-msmes-startups-for-defence-tech-sanctions-rs-1-264-cr-projects-124120601257_1.html ]

N@N

Govt taps MSMEs, startups for defence tech, sanctions Rs 1,264 cr projects