Government reserve 75% of defence budget for local companies - Defence Minister

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Government reserve 75% of defence budget for local companies – Defence Minister

Published on

November 2, 2023

The government has reserved 75% of the defence capital acquisition budget for purchases from local companies.
This is to ensure adequate demand assurance for the domestic industries.
The government has also taken other steps to support MSMEs in the defence sector, such as launching the Innovations for Defence Excellence (iDEX) initiative.
The government has also provided collateral-free loans to MSMEs through the MUDRA scheme.
The government is committed to the welfare of small industries and is working to find solutions to their problems.
India is on track to become self-reliant and a global manufacturing hub.

SourcePTI