Defence Minister Rajnath Singh has said that the government’s aim is to achieve the defence export target of 35,000 crore rupees by 2024-25. Mr Singh said, promoting Indian exports is the topmost priority of the Government. He said, India should become a net exporter instead of a net importer.
Speaking at the Society of Indian Defence Manufacturers, Mr Singh said, Defence Ministry has approved a central sector scheme for iDEX with a 500 crore rupees budget for the next five years from 2021-22 to 2025-26, which will provide financial aid to 300 start-ups, MSMEs and individual innovators and 20 partner incubators.
The Minister said, request for proposal will be issued to avail such schemes for all MSMEs and projects under Make categories where purchasing cost is not more than 100 crores a year or the total value is less than 150 crores to encourage Start-ups and MSMEs.