Funding under DRDO scheme enhanced to Rs 50 crore per project

The Centre under the Union Budget 2022-23 allocated 25% of defence R&D budget to private business, startups, and academics. The enhanced funding is in line with the budget announcement and it will give further boost the vision of ‘Aatmanirbharta i...

PTI
Union Defence Minister Rajnath Singh.
Defence Minister Rajnath Singh on Wednesday approved increasing financing under the Technology Development Fund of the Defence Ministry from Rs 10 crore per project to Rs 50 crore.

The TDF scheme supports indigenous development of components, products, systems and technologies by MSMEs and start-ups. It is executed by the Defense Research & Development Organisation (DRDO).

The Centre under the Union Budget 2022-23 allocated 25% of defence R&D budget to private business, startups, and academics. The enhanced funding is in line with the budget announcement and it will give further boost the vision of ‘Aatmanirbharta in defence’, the Defence Ministry said in a release.


The main goal of the TDF Program is to provide the defence manufacturing industry a huge boost by pushing the industry to innovate and develop defence technology in order to put India on the path to self-reliance.

The programme provides funding for up to 90% of the project's total cost, allowing industry to collaborate with another industry.

The industry and startups will be able to create more complex technologies for existing and future weapon systems and platforms thanks to increased investment. The TDF programme has approved 56 projects to date.
ADVERTISEMENT
Download
The Economic Times Business News App
for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App
for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
READ MORE
ADVERTISEMENT

READ MORE:

LOGIN & CLAIM

50 TIMESPOINTS

More from our Partners

Loading next story
Business News › News › Defence › Funding under DRDO scheme enhanced to Rs 50 crore per project
Text Size:AAA
Success
This article has been saved

*

+