News > Ministry of Defence allocates Rs 500 cr for designing innovative products

Ministry of Defence allocates Rs 500 cr for designing innovative products

Business Standard | 14/06/2021 03:57 PM | Click to read full article

The Ministry of Defence (MoD) announced on Sunday an allocation of Rs 498.8 crore, over the next five years, for its indigenisation scheme: “Innovations for Defence Excellence” (iDEX).

This is achieved by engaging and funding micro, small and medium enterprises (MSMEs), start-ups, individual innovators, research and development (R&D) institutes and academia.