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Defence Manufacturing is the Future of MSME Manufacturers: Narendra Modi

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Prime Minister Narendra Modi said that the government aims to promote entrepreneurship in the defence manufacturing sector.

Inaugurating the DefExpo 2018 in Thiruvidanthai (Tamil Nadu), the Prime Minister said, “Our dream is to Develop the Ecosystem to Foster an Environment of New and Creative Entrepreneurship in the defence manufacturing sector.”

And for this, in the weeks ahead, we will undertake extensive consultations with all stakeholders, including both Indian and Foreign companies, about our Defence Production and Defence Procurement policy space, he added.

“I call upon all of you to actively participate in this exercise.Our aim is not just to discuss, but to draw the right lessons.Our intention is not to lecture, but to listen. Our goal is not merely to tinker, but to transform,” Modi appealed.

In recent years, we have also taken various initiatives like Make In India, Startup India, and Atal Innovation Mission, to encourage innovation and entrepreneurship in the Indian commercial eco-system.

Today, we have launched the ‘Innovation for Defence Excellence’ scheme. It will set up Defence Innovation Hubs throughout the country to provide necessary incubation and infrastructure support to the start-ups in defence area, Modi said.

Private venture capital into the defence sector, especially for start-ups will also be encouraged, he added.

“New and emerging technologies like Artificial Intelligence and Robotics are perhaps the most important determinants/ of defensive and offensive capabilities for any defence force in the future. India, with its leadership in Information Technology domain, would strive to use this technology tilt to its advantage,” Modi said.

SMEStreet Desk

SMEStreet is fast growing platform dedicated to entrepreneurs from small and medium sized businesses (SMEs). Committed to facilitate Knowledge & Networking for Business Growth, SMEStreet offers value added content which shows the actual voice of Indian MSMEs.

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