MSMEs and start-ups integrated into the supply chain
India’s defence production output in Financial Year (FY) 2022-23 increased by more than 12% to Rs.106,800 crore over FY 2021-22’s Rs.95,000 crore, the Defence Ministry said on 19 May 2023.
The Government is continuously working with defence industries and their associations to remove the challenges faced by them and promote defence production in the country.
A number of policy reforms have been taken to achieve the objective of ease of doing business, including the integration of MSMEs and start-ups into the supply chain.
Due to these policies, the industries, including MSMEs and start-ups, are forthcoming in defence design, development and manufacturing and there is almost a 200% increase in the number of defence licenses issued to the industries in the last 7-8 years by the Government.
“These measures have given a boost to the defence industrial manufacturing ecosystem in the country and generated tremendous employment opportunities,” said the Ministry. fiinews.com
