(MENAFN- IANS) New Delhi, Oct 18 (IANS) Defence Minister Rajnath Singh on Friday said the government will provide full support to the private sector to make India an innovation and technology hub in the defence sector.
Launching the 'Dare to Dream 5.0' initiative at the Defence Research and Development Organisation (DRDO) event in the national capital to encourage the next generation of innovators and startups to come forward with transformative ideas for defence applications, the minister said Technology has transformed conventional warfare into unconventional warfare.
"New dimensions have been added to modern-day warfare such as drones, cyber warfare, bio-weapons and space defence. In this transformative phase, R&D in defence will definitely make the defence sector stronger," the minister told scientists, industry leaders, academia, startups, MSMEs, and young entrepreneurs at the event.
Rajnath Singh further stated that it is time for the private sector to take the lead as it has the ability to absorb rapid changes and create new innovations, adding that the government, led by Prime Minister Narendra Modi, will continue providing all necessary support to the youth, scientists, industrialists and MSMEs in this endeavour.
"The Technology Development Fund (TDF) scheme is providing up to 90 per cent of the total project cost as grant support to eligible industries. The total support is up to Rs 50 crore, a good amount for any MSME and start-up to invest in defence R&D," the Union Minister said.
Since its launch six years ago, 79 projects have been sanctioned, of which, technology has successfully been developed in 18 projects.
The minister also felicitated the winners of 'Dare to Dream 4.0', recognising individual innovators, start-ups and MSMEs for creating disruptive solutions and innovations.“Like our brave soldiers, scientists, industry leaders, academia, start-ups, MSMEs and entrepreneurs too are the warriors of the country, prepared to complete every assigned task,” said the Defence Minister.
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