Monday, March 27, 2023
Ministry of DefenceDRDOFunding under this scheme of DRDO enhanced to Rs 50 crore per...

Funding under this scheme of DRDO enhanced to Rs 50 crore per project

MoD has increased the funding under the Technology Development Fund Scheme of DRDO to Rs 50 crore per project from Rs 10 crore

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New Delhi: Defence Minister Rajnath Singh has approved the enhancement of funding under the Technology Development Fund (TDF) scheme of the Ministry of Defence to Rs 50 crore per project from Rs 10 crore. The TDF scheme, executed by Defence Research and Development Organisation (DRDO), supports the indigenous development of components, products, systems and technologies by MSMEs and start-ups.

It may be recalled that 25 percent of the defence R&D budget was earmarked for private industry, start-ups and academia in Union Budget 2022-23. The enhanced funding in the DRDO scheme is in line with the budget announcement and it will give further boost the vision of ‘Aatmanirbharta in defence’.

DRDO’s TDF Scheme aims to provide a major fillip to the defence manufacturing sector by encouraging the industry to innovate and develop defence technologies in order to place India on a self-reliance trajectory.

The scheme facilitates up to 90 percent of the total project cost and allows the industry to work in consortium with other industries/academia. With the enhanced funding, the industry and startups will be able to develop more complex technologies for existing and future weapon systems and platforms. To date, 56 projects have been sanctioned under the TDF scheme.

Funding under the TDF scheme aims at creating an ecosystem for promoting self-reliance by building indigenous state-of-the-art systems for defence applications.

(Defence Watch– India’s Defence Business News aggregator that places the spotlight on Defence Manufacturing, Defence Technology, Strategy and Military affairs is on Twitter. Follow us here and stay updated.)

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