Defense Minister Rajnath Singh has decided to give emphasis on research and development to achieve the goal of stepping towards self-reliance in the defense and aerospace sector. With this objective, the Defense Minister has approved budgetary support of Rs 498.8 crore to the Defense Innovation Organization (DIO) for Innovation in Defense Excellence (I-DEX) for the next five years.
This budget will give a boost to 'Self-reliant India campaign'
This budget will give a boost to 'Atmanirbhar Bharat Abhiyan' along with new innovations in the defense sector, as self-reliance and indigenization in the country's defense and aerospace sector is the primary objective of I-DEX-DIO. The objective is to promote innovation and technology development in defense and aerospace by involving industries including MSMEs, start-ups, individual innovators, R&D institutions, academia.
The objective of the scheme is to facilitate development with indigenous and innovative technology.
The scheme, with an assistance of Rs 498.8 crore for five years, aims to provide financial assistance to around 300 start-ups, MSMEs, individual innovators and 20 partner incubators under the DIO framework. The DIO along with its team will be able to create channels for innovators to engage and interact with the Indian defense manufacturing industry. The objective of the scheme is to facilitate the development of new, indigenous and innovative technology for the Indian defense and aerospace sector, so as to meet their needs in a short span of time.