MoD to pump in Rs 498.8 crore for defence innovation
Synopsis
The creation of the iDEX framework and establishment of the DIO by the Department of Defence Production is aimed at creating an ecosystem to foster innovation and technology development in defence and aerospace, the defence ministry said in a statement.
Giving an impetus to the government's Atmanirbhar Bharat initiative, Defence Minister Rajnath Singh has approved the budgetary support of Rs 498.8 crore to Innovations for Defence Excellence- Defence Innovation Organisation for the next five years.
The primary objective of the iDEX–DIO is to achieve self-reliance and indigenisation in the defence and aerospace sector of the country.
The creation of the iDEX framework and establishment of the DIO by the Department of Defence Production is aimed at creating an ecosystem to foster innovation and technology development in defence and aerospace, the defence ministry said in a statement.
This mechanism involves engaging industries, including MSMEs, start-ups, individual innovators, R&D institutes and academia, and providing them funding and other support to carry out R&D development.
About 300 start-ups/MSMEs/individual innovators and 20 partner incubators will benefit from this budgetary support.
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