Rajnath Singh Approves Rs 499 Crore Budget For Innovation In Defence Sector

Defence Ministry said the funds will be used to financially support around 300 start-ups, MSMEs and individual innovators with a goal of ensuring self-reliance in defence sector.

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. Defence Minister @rajnathsingh approves ₹498.8 crore budgetary support for defence innovation through @India_iDEXThe budgetary support will provide a big boost to the ‘#AatmanirbharBharat Abhiyan'Read: https://t.co/awCxw2C8PNpic.twitter.com/2bcxYtvjpP The Defence Ministry on Sunday said the funds will be used to provide financial support to nearly 300 start-ups, micro, small and medium enterprises (MSMEs) and individual innovators with a larger goal of ensuring self-reliance in the defence sector. The scheme is in sync with the government's push to cut imports of military hardware and weapons and make India a hub for defence manufacturing.