Defence Minister Rajnath Singh, on 8 June, approved increasing financing under the Technology Development Fund of the Defence Ministry from Rs 10 crore per project to Rs 50 crore.
The TDF scheme supports indigenous development of components, products, systems and technologies by MSMEs and start-ups. It is executed by the Defense Research & Development Organisation (DRDO).
The Centre under the Union Budget 2022-23 allocated 25% of defence R&D budget to private business, startups, and academics. The enhanced funding is in line with the budget announcement and it will give further boost the vision of ‘Aatmanirbharta in defence’, the Defence Ministry said in a release.
The main goal of the TDF Program is to provide the defence manufacturing industry a huge boost by pushing the industry to innovate and develop defence technology in order to put India on the path to self-reliance.
The programme provides funding for up to 90% of the project’s total cost, allowing industry to collaborate with another industry.
The industry and startups will be able to create more complex technologies for existing and future weapon systems and platforms thanks to increased investment. The TDF programme has approved 56 projects to date.
