MSMEs & startups key to Indigenisation of defence sector: PM Modi

New Delhi, July 19 (KNN) While highlighting the development of a new defence ecosystem in the country, PM Modi  on Monday said the goal of self-reliance in the Indian forces is very important for the India of the 21st century.

During his address at the Naval Innovation and Indigenisation Organisation seminar,Modi emphasised on how research and development has been opened up for the private sector, academia, MSMEs and start-ups in today’s defence ecosystem. He added that the country is moving fast from being the biggest arms importer to a big exporter in the defence sector.

The government is taking all the necessary steps to strengthen the public sector defence companies by organizing them in different sectors. Premier institutions like IITs are being utilized in the fields of defence research and innovation.

“In the last 8 years, we have not only increased the defence budget, but we have also ensured that this budget is useful in the development of the defence manufacturing ecosystem in the country itself. Today, a large part of the budget earmarked for the purchase of defence equipment is being spent on procurement from Indian companies, “he added.

The defence imports in the last 4-5 years have come down by 21 per cent.

As a part of the ‘Azadi ka Amrit Mahotsav’, NIIO in association with the Defence Innovation Organisation (DIO), aims at inducting at least 75 new indigenous technologies and products into the Indian Navy.  (KNN Bureau)