Rajnath singh Assigns Rs 499 crore Budgetary support for Defence sector Research and Innovation
Defence Minister Rajnath Singh has approved budgetary support of nearly Rs 499 crore for research and innovation in the defence sector for the next five years
Defense Minister Rajnath Singh has approved budget support for almost $ 499 million for research and innovation in the defense sector over the next five years.
The Department of Defense on Sunday said the funds would be used to provide financial assistance to nearly 300 emerging businesses, small and medium enterprises (MSMEs) and individual founders with a view to ensuring independence in the defense sector.
The plan is in line with the government's desire to reduce the importation of military equipment and weapons and to make India a hub for defense production.
"Defense Minister Rajnath Singh has approved a budget support of Rs 498.8 crore for Innovations for Defense Excellence (DEX) - Defense Innovation Organization (DIO) over the next five years," the department said in a statement.
It states that iDEXDIO has the primary objective of independence and independence in the defense and aviation sectors.
The department said the establishment of the iDEX framework and the establishment of a DIO by the Department of Manufacturing (DDP) were aimed at creating an environmental plan to promote innovation and technology development in the defense and aviation sector.
"The program, with the support of the Rs 498.8 crore budget over the next five years, aims to provide financial assistance to approximately 300 startups / MSMEs / individual founders and 20 partner partners under the DIO framework," the department said.
It says the DIO will enable the creation of channels for the founders of communication and communication systems with the Indian defense industry.
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"The program is aimed at assisting in the rapid development of new, indigenous and new technologies in the defense and aviation sector in India to meet their needs in the short term," the organization said.
A few years ago, the government introduced a series of measures and measures to make India a safe haven.
Last August, Defense Minister Singh announced that India would suspend the importation of 101 weapons and military platforms such as aircraft, helicopters, conventional ships, submarines and sonar systems by 2024.
A second negative list, which imposes restrictions on the importation of military weapons and 108 programs such as next-generation corvettes, aerial warning systems, tank engines and radar, was released this week.
Last May, the government announced an increase in the FDI limit from 49 percent to 74 percent below the default line in the defense sector.
India is one of the largest importer of weapons in the world.
The government now wants to reduce its reliance on recruits and has decided to fund the production of home defense.
The department has set a target of USD 25 billion (Rs 1.75 lakh crore) for the production of defense over the next five years, including the export of USD 5 billion (Rs 35,000 crore).
The Department of Defense on Sunday said the funds would be used to provide financial assistance to nearly 300 emerging businesses, small and medium enterprises (MSMEs) and individual founders with a view to ensuring independence in the defense sector.
The plan is in line with the government's desire to reduce the importation of military equipment and weapons and to make India a hub for defense production.
"Defense Minister Rajnath Singh has approved a budget support of Rs 498.8 crore for Innovations for Defense Excellence (DEX) - Defense Innovation Organization (DIO) over the next five years," the department said in a statement.
It states that iDEXDIO has the primary objective of independence and independence in the defense and aviation sectors.
The department said the establishment of the iDEX framework and the establishment of a DIO by the Department of Manufacturing (DDP) were aimed at creating an environmental plan to promote innovation and technology development in the defense and aviation sector.
"The program, with the support of the Rs 498.8 crore budget over the next five years, aims to provide financial assistance to approximately 300 startups / MSMEs / individual founders and 20 partner partners under the DIO framework," the department said.
It says the DIO will enable the creation of channels for the founders of communication and communication systems with the Indian defense industry.
"The program is aimed at assisting in the rapid development of new, indigenous and new technologies in the defense and aviation sector in India to meet their needs in the short term," the organization said.
A few years ago, the government introduced a series of measures and measures to make India a safe haven.
Last August, Defense Minister Singh announced that India would suspend the importation of 101 weapons and military platforms such as aircraft, helicopters, conventional ships, submarines and sonar systems by 2024.
A second negative list, which imposes restrictions on the importation of military weapons and 108 programs such as next-generation corvettes, aerial warning systems, tank engines and radar, was released this week.
Last May, the government announced an increase in the FDI limit from 49 percent to 74 percent below the default line in the defense sector.
India is one of the largest importer of weapons in the world.
The government now wants to reduce its reliance on recruits and has decided to fund the production of home defense.
The department has set a target of USD 25 billion (Rs 1.75 lakh crore) for the production of defense over the next five years, including the export of USD 5 billion (Rs 35,000 crore).
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