Insta
Defence Minister Rajnath Singh Approves Rs 499 Crore To Promote Innovation & Research In Defence And Aerospace Sector
Defence Minister Rajnath Singh (Pic Via Twitter)
In a big step towards promoting innovations and research in the defence space, Union Defence Minister Rajnath Singh has approved budgetary support of nearly Rs 499 crore for the next five years, reports Economic Times.
Singh has approved a total of Rs 498.8 crore for Innovations for Defence Excellence (iDEX) - Defence Innovation Organisation (DIO).
As per details shared by the Defence Ministry, the funds will be used to provide financial support to nearly 300 start-ups, micro, small and medium enterprises (MSMEs) and individual innovators with the larger goal of ensuring self-reliance. Funds will also be provided to 10 partner incubators.
The ministry shared that the setting up of the iDEX framework and establishment of the DIO by the Department of Defence Production (DDP) is aimed at creating an ecosystem to foster innovation and technology development in the defence and aerospace sectors.
Ministry added, "The scheme aims to facilitate rapid development of new, indigenised and innovative technologies for the Indian defence and aerospace sector to meet their needs in shorter timelines."
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.
Latest
