Vadodara Aircraft Facility To Provide Opportunities For MSMEs: PM Modi

ENA MSME 2024-10-29 16:42:53 Vadodara, Oct 29 (KNN) The inauguration of India's first private military aircraft facility in Vadodara promises substantial opportunities for the country's micro, small, and medium enterprises (MSMEs), as highlighted during Monday's launch ceremony attended by Prime Minister Narendra Modi and Spanish Prime Minister Pedro Sanchez. The Tata-Airbus manufacturing complex is poised to integrate thousands of MSMEs into its supply chain through the indigenous production of 18,000 aircraft parts. The manufacturing ecosystem, established at the TATA Advanced Systems Limited (TASL) Campus, represents a significant boost for small-scale industries seeking to participate in high-value defence manufacturing. The facility's mandate to produce 40 C-295 aircraft domestically, as part of a larger 56-aircraft agreement, creates unprecedented opportunities for MSMEs to become part of a global aerospace supply chain. Small and medium enterprises will work alongside established players, including defence public sector units Bharat Electronics Ltd. and Bharat Dynamics Ltd., demonstrating the government's commitment to fostering collaboration between large corporations and smaller enterprises. This partnership model aims to strengthen India's domestic manufacturing capabilities while creating thousands of jobs across the MSME sector. The project aligns with the government's broader initiatives to support smaller enterprises in the defence sector. Through the iDEX scheme, approximately 1,000 defence startups have received support over the past five to six years, many of which fall into the MSME category. This ecosystem development has contributed to India's remarkable growth in defence exports, which have increased 30-fold over the past decade, with Indian companies now exporting to over 100 countries. Further bolstering MSME participation in defence manufacturing, the recently launched ADITI scheme, with its Rs 750 crore corpus, provides substantial funding opportunities for smaller enterprises. The program offers grants of up to Rs 25 crore for research, development, and innovation in critical defence technologies, enabling MSMEs to undertake ambitious projects in the aerospace and defence sectors. This facility, whose foundation stone was laid in October 2022, represents a cornerstone in India's strategy to empower MSMEs in high-technology defence manufacturing. (KNN Bureau) 39747 https://knnindia.co.in/news/newsdetails/msme/vadodara-aircraft-facility-to-provide-opportunities-for-msmes-pm-modi 2024-10-29 16:42:53 knnindia.co.in Vadodara Aircraft Facility To Provide Opportunities For MSMEs: PM Modi