Ministry of Defence increases funding for MSMEs under TDF scheme

New Delhi, June 8 (KNN) The Ministry of Defence has enhanced the funding for MSMEs and startups under the Technology Development Fund (TDF) scheme of Defence Research and Development Organisation (DRDO) to Rs 50 crore per project from Rs 10 crore.

The TDF scheme aims to support indigenous development of components, products, systems and technologies by MSMEs and startups. It facilitates up to 90 per cent of the total project cost and allows industry to work in association with other industries and academia.

The revised funding will allow the industry and startups to develop more complex technologies for existing and future weapon systems and platforms. A total of 56 projects have been sanctioned under TDF scheme.

The Defence R&D budget for 2022-23 allocated 25 per cent to private industry, startups and academia.

The enhanced funding is in line with the budget announcement and will give further boost the vision of ‘Aatmanirbharta’ in defence. (KNN Bureau)