Defense Minister Rajnath Singh has approved budgetary support of about Rs 499 crore for research and innovation in the defense sector over the next five years. The Defense Ministry said on Sunday that the fund will be used to provide financial support to around 300 startups, micro, small and medium industries (MSMEs) and individual innovators. Its goal will be to ensure the larger goal of ensuring self-reliance in the defense sector.
Steps to reduce import of military weapons
The scheme is in line with the government’s move to cut imports of military hardware and weapons and make India a hub of defense manufacturing.
Defense Minister Rajnath Singh has approved a budgetary support of Rs 498.8 crore for the next five years to Defense Excellence (iDEX)- Defense Innovation Organization (DIO) for innovation, the ministry said in a statement. It said that the primary goal of iDEX-DIO is self-reliance and indigenization in the defense and aerospace sectors.
The ministry said the setting up of the iDEX Framework and DIO by the Department of Defense Production is aimed at creating an ecosystem to promote the Department of Innovation and Technology in the field of Defense and Aerospace.
With a budgetary support of Rs 498.8 crore for the next five years, the scheme aims to provide financial support to around 300 startups/MSMEs/individual innovators and 20 partners under the DIO framework, the ministry said. It said that the DIO will help in creating channels for innovators to interact with the Indian defense manufacturing industry. It said that the objective of the scheme is to facilitate rapid development of new, indigenous and innovative technologies for the Indian defense and aerospace sector, so that their needs can be met in a short span of time.
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Over the years, the government has introduced several reform measures and initiatives to make India a hub of defense manufacturing. In August last year, Defense Minister Rajnath Singh announced that India would stop importing 101 weapons and military platforms such as transport aircraft, light combat helicopters, submarines, missiles and sonar systems by 2024.
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