India News | 25 Pc of Defence R&D Budget Earmarked for Industry, Startups, Academia: Rajnath Singh
Get latest articles and stories on India at LatestLY. Defence Minister Rajnath Singh on Friday said that 25 per cent of Defence's Research and Development budget has been reserved for industry, startups and academia.
New Delhi [India], February 25 (ANI): Defence Minister Rajnath Singh on Friday said that 25 per cent of Defence's Research and Development budget has been reserved for industry, startups and academia.
In the annual budget of 2022-23, it has been announced that Defence R&D will be opened up for industry, startups and academia, added Singh.
"In the annual budget of 2022-23, it has been announced that Defence R&D will be opened up for industry, startups and academia. 25 percent of the Defence R&D budget has also been earmarked for this purpose," tweeted Singh.
Earlier in the day, Prime Minister Narendra Modi while addressing a webinar on 'Aatmanirbharta in Defence - Call to Action', said that the Union Budget is a blueprint for developing a vibrant ecosystem from research, design and development to manufacturing.
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"This Budget is a blueprint for developing a vibrant ecosystem from research, design and development to manufacturing. Around 70 per cent of Defence allocation has been kept just for domestic industry. So far, Defence Ministry issued indigenisation list of over 200 defence platforms and equipment," he said.
The Prime Minister mentioned that the procurement process related to defence equipment worth more than Rs 4.5 lakh crores is in different stages.
"After the announcement of this list, contracts of around Rs 54,000 crores have been signed for domestic procurement. Besides this, the procurement process related to equipment worth more than Rs 4.5 lakh crores is in different stages. The third list is going to come soon," said PM Modi. (ANI)
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