ENA Sectors 2024-02-20 15:33:59 <p><span style="font-size:14px"><strong>New Delhi, Feb 20 (KNN)</strong> 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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">Admiral Hari Kumar underscores the active support of the Indian Navy towards MSMEs, citing the collaboration with Nibe Ltd as an example.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">The Naval Innovation and Indigenisation Organisation (NIIO) has played a pivotal role in facilitating opportunities for MSMEs to present innovative solutions for naval technology.</span></p> <p><span style="font-size:14px">This effort has resulted in an impressive response, with over 300 proposals and 518 contracts being signed.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px">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.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 36757 https://knnindia.co.in/news/newsdetails/sectors/indian-navy-chief-proposes-strategic-development-bank-for-msmes-in-defence-sector 2024-02-20 15:33:59 knnindia.co.in