Visakhapatnam Set To Host Second Regional Defence MSME Conclave

Visakhapatnam, Dec 4 (KNN) The second regional defence Micro, Small, and Medium Enterprises (MSME) conclave will convene on December 16 in Visakhapatnam, bringing together key stakeholders from across India's defence manufacturing ecosystem. 

Organised by the Society of Indian Defence Manufacturers (SIDM) and Confederation of Indian Industry, the event is being conducted in partnership with the Department of Defence Production, Ministry of Defence, and Bharat Dynamics Ltd.

The conclave represents a significant opportunity to chart a comprehensive roadmap for MSME and start-up participation in India's rapidly expanding defence sector. 

Recent government initiatives have driven remarkable growth, with defence sector production averaging 20 percent in the financial year 2023-24. 

The sector achieved a record domestic defence production of Rs 1.27 lakh crore, while defence exports surpassed Rs 21,000 crore.

Central to the event's focus is the government's commitment to the Make in India initiative, which has strategically reserved 70 percent of procurement for Indian entities through mechanisms like the Positive Indigenisation List. 

Prominent representatives from defence production departments, naval dockyards, naval projects, shipbuilding centres, and financial institutions will provide critical insights into government schemes, MSME-friendly policies, and emerging business opportunities.

Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief of the Eastern Naval Command, will serve as the guest of honour, lending additional prestige to the conclave. 

SIDM, established in 2017 under the Confederation of Indian Industry's aegis, currently represents over 700 defence manufacturers nationwide, underscoring the sector's robust and growing industrial landscape.

The event aims to foster collaboration, discuss strategic opportunities, and accelerate the integration of MSMEs into India's defence manufacturing value chain, marking a crucial milestone in the sector's developmental trajectory.

(KNN Bureau)