NEW DELHI (PTI): Defence Minister Rajnath Singh has approved enhancement of funding under a DRDO scheme supporting indigenous development of defence equipment to Rs 50 crore per project from existing Rs 10 crore.
The Technology Development Fund scheme of the Defence Research and Development Organisation (DRDO) supports indigenous development of components, products, systems and technologies by MSMEs and start-ups.
"Singh has approved enhancement of funding under Technology Development Fund (TDF) scheme of the Ministry of Defence to Rs 50 crore per project from Rs 10 crore," the ministry said.
In the Union Budget for 2022-23, the government had set aside 25 per cent of the defence R&D budget for private industry, start-ups and academia.
"The enhanced funding is in line with the budget announcement and it will give further boost the vision of 'Aatmanirbharta in defence'," the ministry said in a statement.
It said the TDF scheme aims to provide a major fillip to the defence manufacturing sector by encouraging the industry to innovate and develop defence technologies.
"The scheme facilitates up to 90 per cent of the total project cost and allows industry to work in consortium with another industry/academia. With the enhanced funding, the industry and startups will be able to develop more complex technologies for existing and future weapon systems and platforms," it said.
Till date, 56 projects have been sanctioned under the TDF scheme.
Rajnath approves enhancement of funding support for development of indigenous equipment
Article Posted on : - Jun 09, 2022
Other Related News
Adoption of unconventional ideas only way to progress in unconventional warfare: Rajnath Singh
Defence Minister Rajnath Singh has said that technology has "transformed" the conventional warfare into an unconventional one, and adoption of "unconventional ideas", not yet known to the world, is the only way to progress while navigating this change.
The Indian Air Force, in its flight trials evaluation report submitted before the Defence Ministry l..
view articleAn insight into the Medium Multi-Role Combat Aircraft competition...
view articleSky enthusiasts can now spot the International Space Station (ISS) commanded by Indian-American astr..
view article