Govt to sanction funds to MSME under Technology Fund Scheme

Indian Defence Ministry’s technology fund scheme to fund researches by Micro, Small and Medium Enterprises (MSMEs) on urgent military technology projects up to a value of Rs 10 crore is finally on track. Six projects have been identified for the Technology Development Fund (TDF) plan, in which the government will fund the development of technologies or a prototype by selected companies that has to be completed within two years. The scheme will cover improvements to existing systems, development of futuristic technologies and import substitution such as light weight bulletproof materials  to make bulletproof jackets and vehicles, develop and demonstrate a series of fuel cells to meet different requirements. The idea is to encourage the private sector to undertake research and come up with solutions.


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