Defence Minister raises the Technology Development Fund to Rs 50 crore

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Source: Ministry of Defence

The financing under the Technology Development Fund (TDF) scheme has been expanded from Rs 10 crore for each task to Rs 50 crore. Defence Minister Rajnath Singh reported the addition in the subsidizing that will be utilized by the business and new companies to foster more advances for existing and future weapon frameworks and stages.

June 2022: Defence Minister Rajnath Singh has endorsed the improvement of subsidizing under Technology Development Fund (TDF) plan of the Ministry of Defense to Rs 50 crore for every venture from Rs 10 crore. The TDF plot, executed by Defense Research and Development Organization (DRDO), upholds native improvement of parts, items, frameworks, and innovations by MSMEs and new businesses.

For the unversed, TDF, which is executed by Defense Research and Development Organization (DRDO), backs the native advancement of parts, items, frameworks, and innovations by MSMEs and new businesses.

In the Union Budget 2022-23, around 25 percent of the Defense Research and Development spending plan was reserved for private industry, new companies, and the scholarly community.

This improved financing will additionally make the safeguard more confident. This plan targets helping the safeguard producing area by empowering the business to improve and foster guard advancements.

The plan works with up to 90 percent of the absolute venture cost and permits enterprises to work in consortium with one another. To date, 56 projects have been endorsed under TDF conspire.