SIDBI ties up with SIATI for benefit of MSMEs in aerospace, defence

New Delhi, Feb 22 (KNN) Small Industries Development Bank of India (SIDBI) and the Society of Indian Aerospace Technologies and Industries (SIATI) on Tuesday partnered to facilitate mutual co-operation between the institutions for the overall benefit of MSMEs in aerospace and defence and other sectors.

SIATI is the industry body for enterprises including MSMEs in the aerospace sector.  

SIDBI announced on Twitter that this association would serve as a knowledge depository about defence sector or defence public sector units and large OEMs and would provide an opportunity to MSMEs to showcase its capabilities and products to the interested DPSUs/OEMs etc.

In 2022, the defence ministry was the top procuring ministry of goods and services from MSME sellers through the government’s public procurement e-commerce marketplace Government eMarketplace (GeM). 

From the portal the ministry has purchased products and services worth Rs 16,747 crore.

In FY22, the defence ministry had procured Rs 15,047.98 crore worth of goods and services from MSMEs which is a 250 per cent raise from the previous year.  (KNN Bureau)