DRDO Funding enhanced to Rs.50 crore per project

Date:

Defence Minister Shri Rajnath Singh has approved enhancement of funding under Technology Development Fund (TDF) scheme of Ministry of Defence to Rs 50 crore per project from Rs 10 crore. The TDF scheme, executed by Defence Research and Development Organisation (DRDO), supports indigenous development of components, products, systems and technologies by MSMEs and start-ups.

25 per cent of defence R&D budget was earmarked for private industry, start-ups and academia in Union Budget 2022-23. The enhanced funding is in line with the budget announcement and it will give further boost the vision of ‘Aatmanirbharta in defence’.

The TDF Scheme aims to provide a major fillip to the defence manufacturing sector by encouraging the industry to innovate and develop defence technologies in order to place India on the self-reliance trajectory. 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. Till date, 56 projects have been sanctioned under TDF scheme.

━ related

Government Establishes the Accelerated Corporate Exit Processing Centre to Streamline Business Dissolution Procedures

Aiming to simplify and expedite the process of corporate dissolution, the government introduces the Accelerated Corporate Exit Processing Centre. Learn about the significance of this initiative and how it will benefit businesses and the overall economy.

Kiren Rijiju Steps Down as Union Law Minister, Marking the End of an Era

In a surprising development, Kiren Rijiju has announced his resignation as the Union Law Minister, bringing an end to his impactful tenure. Explore the achievements and highlights of Rijiju's time in office and the potential implications of his departure.

Hinduja Group Chairman SP Hinduja Passes Away, Leaving Behind a Legacy of Business Excellence

The business world mourns the loss of SP Hinduja, the Chairman of the Hinduja Group, who has passed away. Explore the remarkable life and contributions of this visionary leader and the lasting impact he leaves behind.

Nepali Climber Sets New Record with 27th Ascent of Mount Everest

A remarkable achievement in mountaineering history as a Nepali climber conquers Mount Everest for the 27th time, establishing a new record. Learn more about this extraordinary feat and the perseverance of this seasoned mountaineer.

Global Accessibility Awareness Day 2023: Promoting Inclusion and Digital Accessibility

Global Accessibility Awareness Day (GAAD) 2023 marks a significant milestone in raising awareness about the importance of accessibility and inclusion in the digital world. Discover how this global event is making a positive impact on people's lives and promoting a more inclusive society.