The Codissia Defence Innovation and Atal Incubation Centre (CDIIC), an initiative of the Coimbatore District Small Industries Association (Codissia), will on October 28 sign Memorandums of Understanding (MoU) with 5 Base Repair Depot and Air Force and Naval Ship Repair Yard, Kochi, to indigenise defence sector components and products.
R. Ramamurthy, president of the Association, told The Hindu that for the last four years, Codissia was working with the Central Government to encourage involvement of MSMEs in defence sector indigenisation. This would be done through the CDIIC, to be inaugurated on October 28, that had come up in the Defence Corridor in the State.
The total project cost for the Centre was ₹ 45 crore. While the Defence Ministry would provide ₹ 20 crore, including ₹ 5 crore soft loan to product developers in need of financial support, the Atal Incubation Centre would give ₹ 10 crore as grant, at ₹ 2 crore each for five years. Codissia would invest ₹ 10 crore apart from providing land and machinery.
The building for the Centre, to come up at Codissia Industrial Park at Kallapalayam, was awaiting approval for building plan. Meanwhile, the Centre had already placed orders for machinery and the Centre’s operations would take off at the Codissia Trade Fair Complex.
Through the Atal Incubation Centre, CDIIC endeavoured to handhold a minimum of 10 Incubatees and ensure that at least five incubatees graduated every year from the second year. Many aspiring and existing entrepreneurs with ideas shall be mentored and guided towards succeeding in their projects, which would both be towards domestic as well as defence requirements.
With the signing of agreements, there would be regular interaction between the MSMEs and the defence PSUs regarding development of spares and components. Products to be developed at the Centre would be finalised soon, he added.
The event on October 28 would have a question and answer session for MSMEs to know more about opportunities in the defence sector.
Interested MSMEs can take part in the virtual launch by logging on to Twitter (@CDIIC1), Facebook ( www.Facebook.com/CDIIC ), Linkedin ( www.linkedin.com/in/info-cdiic-a94b701a6 ) or Youtube ( https://bit.ly/3kce4Er ).
