Medilytix Bureau:

To promote private industry, MSMEs and start-ups in defence production ecosystem, 25% of the Domestic Capital Procurement/Acquisition Budget, amounting to ₹21,149.47 Cr, will be earmarked for domestic private industry in FY2022-23, Defence Ministry officials said.

To promote domestic defence production ecosystem, the Ministry of Defence has now decided that 25% of domestic capital procurement budget, amounting to ₹21,149 crore, will be earmarked for domestic private industry in FY23.

Further, to foster innovation and encourage technology development in defence, it has also been decided that an amount of ₹1,500 crore will also be earmarked for procurement from start-ups, including iDEX s-up, from within the allocations for domestic capital procurement.

“These steps will foster the growth of private industry, MSMEs and start-ups in Defence ecosystem,” the ministry of defence said in a statement.

Leave a Reply

Your email address will not be published. Required fields are marked *