A senior official in the Defence Research and Development Organisation (DRDO) has urged micro, small and medium enterprises in Telangana and Andhra Pradesh to avail themselves of the growth opportunities that the Technology Development Fund (TDF) scheme offers and help achieve the goals of Atmanirbhar Bharat.
Scientist ‘F’ additional director DTDF Shiv Kumar, addressing a meeting organised by the Federation of Telangana Chambers of Commerce and Industry and FAPCCI, said this while highlighting the Telugu States’ contribution to the indigenous efforts of DRDO.
Describing the TDF scheme as a step towards Atmanirbhar Bharat in defence sector and how it offered opportunities to startups and MSMEs, he said since its launch, 58 projects worth ₹275 crore had been awarded under the scheme. It encourages participation of public/private firms and is focussed on promoting and providing financial aid to them to develop cutting-edge technologies for defence sector
In a release on the meeting, FTCCI said under TDF funding, up to ₹50 crore is available to the firms, especially MSMEs and startups. The entity must be owned and controlled by a resident Indian citizen with a minimum 51% ownership.
FTCCI president Anil Agarwal said the scheme aims to provide a major fillip to the defence manufacturing sector. In addition to the funding for development of indigenous technology, it also provides various other benefits. Five entities from Telangana and Andhra Pradesh have been awarded projects under TDF scheme. “But the number is too small and we hope that this programme helps in reaching out to many more units to avail the scheme,” he said.
FAPCCI president Karunendra S. Jasti said the Andhra Pradesh government has identified defence manufacturing as a thrust sector for industrial development.
