New Delhi, Feb 20 (KNN) Indian Navy Chief, Admiral Hari Kumar, has put forth a proposal to address the funding challenges encountered by Micro, Small, and Medium Enterprises (MSMEs) in the defence sector.

He advocates for the establishment of a dedicated "strategic development bank" tailored to meet the specific needs of MSMEs, aiming to bolster the nation's 'Aatmanirbharta' or self-reliance in defence production.

Admiral Hari Kumar underscores the active support of the Indian Navy towards MSMEs, citing the collaboration with Nibe Ltd as an example.

Nibe Ltd, an MSME, is engaged in the production of Brahmos launchers for ships, showcasing the fruitful partnerships between the navy and small-scale enterprises.

The Naval Innovation and Indigenisation Organisation (NIIO) has played a pivotal role in facilitating opportunities for MSMEs to present innovative solutions for naval technology.

This effort has resulted in an impressive response, with over 300 proposals and 518 contracts being signed.

Inaugurating the Nibe Defence and Aerospace manufacturing plant in Chakan, Admiral Hari Kumar emphasises the paramount importance of industry collaboration in fulfilling the navy's commitment to supporting MSMEs.

He stresses that such collaborations enhance the nation's capability to manufacture weapon systems, aligning with the broader goal of self-reliance in defence production.

(KNN Bureau)