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Indian start-ups developing, making products for military use: Kovind

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Indian start-ups developing, making products for military use: KovindBengaluru, Feb 6 (IANS) President Ram Nath Kovind on Friday said many start-ups in the country were developing technologies and products for military use.

“Through start-up manthan, many start-ups are developing new technologies and products for military use. The platform is also helping us develop indigenous innovation and self-reliance in defence technologies,” said the President at the valedictory of the 13th biennial Aero India 2021 at the Yelahanka air base on the city’s northern outskirts.

Start-up manthan is an annual event for defence start-ups when innovations for defence excellence (IDEX) was unveiled in 2018 to encourage innovators, micro, small and medium enterprises (MSMEs) engage with the defence ministry and solve military challenges.

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“In the 29 innovation challenges issued by the Indian military and defence public sector undertakings and from about 1,200 applications from start-ups, 100 winners referred to as IDEX Innovators have been selected so far,” said Kovind on the occasion.

Recalling that Mahatma Gandhi had sown seeds of swadeshi and self-reliance during the freedom struggle, the President said the government had renewed the pledge and was making efforts to achieve ‘aatmanirbar’ (self-reliance) in the defence sector too.

“Our vision is to create a robust economy and infrastructure alongside developing competitive supply chains and integrate them globally,” said Kovind on the occasion.

Among measures for transforming India into a major defence manufacturing hub are notification of a ‘negative list’ of 101 items; reforms in defence procurement policies and procedures; liberalisation of the industrial licensing requirements; increase of FDI in the defence sector up to 74 per cent through the automatic route and 100 per cent through the government route; simplifying and offering incentives to offset discharges.

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“With consistent FDI reforms, foreign investment in defence and aerospace sectors has grown by 200 per cent during the last 5 years.

Industrial licensing requirements have been eliminated for a number of items.

The processes for industrial licence and export authorisations have been simplified and made on-line.

Source: IANS

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