Govt enhances funding under DRDO’s TDF scheme to Rs 50 crore for MSMEs, startups

Credit and Finance for MSMEs: Defence Minister Rajnath Singh on Wednesday approved increasing the funding to MSMEs and startups under the Technology Development Fund (TDF) scheme of the Ministry of Defence. The scheme, which supports the indigenous development of components, products, systems, and technologies, will now have an upper limit of Rs 50 crore per project from Rs 10 crore so far.

Importantly, Finance Minister Nirmala Sitharaman in her budget speech had announced earmarking 25 percent of the defense R&D budget for private industry, startups, and academia. Hence, the increase in financing is in line with the budget announcement and will give further support to the government’s aim for self-reliance in the defense sector, the defense ministry noted.

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