Defence ministry approves Rs 498.8 Cr to support startups

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The Defence Ministry has approved Rs 498.8 Cr to support startups and innovation in the defence manufacturing sector.Defence Secretary Ajay Kumar said that the step is a big boost to startups in defence. He stated that the approval will give a big boost to become self-reliant in the defence manufacturing sector.

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Sanjay Jaju, Additional Secretary heading Defence Production, stated on social media "The Scheme with budgetary support of Rs 498.8 crore for iDEX aims to support 300 startups and 20 partner incubators over next five years to produce functional prototypes and foster innovation in Defence."

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