Govt’s Defence Purchases Hit Record High For FY22

- Advertisement -

The value of Indian defence exports for the FY22 has hit a high of Rs.12,815 crore, showing an increase from Rs.8,435 crore in FY21.

The defence procurement from MSEs in the current year, as of July 26, amounted to Rs 759 crore. (Image credit: pexels)

Defence procurement from MSMEs hit a record high for the financial year 2021-22 as per the government data. The purchase of goods and services from MSMEs during the year increased 33.8% to Rs.5,760 crore in the FY21. In comparison to pre-covid, FY22 jumped 79.7% from Rs.3,204 crore. The value of Indian defence exports during FY22 has reached Rs.12,815 crore.

Minister of State for Defence, Ajay Bhatt stated that MSMEs are the important partners in the projects of Defence research and Development Organisation (DRDO) and in turn, DRDO transfers technologies to them while sharing data in the Rajya Sabha.

- Advertisement -

“DRDO through its scheme Technology Development Scheme (TDF) funds industries, especially startups and MSMEs up to an amount of Rs 10 crore for innovation, research and development of defence technologies in the field of defence and aerospace,” said Bhatt.

Defence purchases through business-to-government(B2G) portal Government eMarketplace (GEM) has also recorded a hit of over 250% in FY22. According to the Ministry statement, procurement orders through GEM have registered an all-time high of Rs.15,047.98 crore in FY22. Similarly, the number of MSME vendors has also increased from 8,643 in FY19 to 10,506 till Q2 FY20.

“MSMEs started their journey with DPSUs as their supply chain partners but today, they have come up to a level where they are playing an important role in discharging offset obligations, revenue procurement, and also in designing, developing, and manufacturing complete defence systems by themselves,” said Dr Mayank Dwivedi, Director, Industry Interface & Technology Management (DIITM), DRDO at an event organised by PHD Chamber of Commerce and Industry in March, 2022.

The government has also introduced ‘MAKE Projects’ in Defence Acquisition Procedure (DAP) 2020 to encourage design and development of defence equipment with both government and industry funding.


 

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

Mouser Becomes Networking Partner for IEW-22

0
Technical experts from Molex, Renesas Electronics, and Würth Electronik will be present at Mouser's booth at India Electronics Week (IEW)-2022 Mouser Electronics, a premier semiconductor...

Exclusive

Analog Devices: element14’s New Distribution Partner

0
The official statement said customers can now consolidate their design requirements from a single source with a range of new technologies, products and services Strengthening...

South Korea Gets a New Manufacturing Facility

0
The facility is to manufacture vacuum and abatement systems which are used in the global manufacturing of semiconductors.  Part of the Atlas Copco Group, the...

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

Important Sectors

Printed Electronics for Smart Building Solutions

0
The two companies will collaborate to scale novel water detection tape solutions based on printed electronics Sensor-maker LAIIER and Germany-based chemical and consumer goods company...

India Assumes Chair of Global Partnership on AI

0
MoS Rajeev Chandrasekhar represented India at the Global Partnership on Artificial Intelligence (GPAI) Summit He believes National Data Governance Framework Policy with Indian...

ABB E-mobility Raises $200 Mn in Pre-IPO Pvt Placement

0
The company hopes to continue on its growth trajectory driven by both organic and M&A investments Zurich-based ABB E-mobility, a leading electric vehicle (EV) charging...

PMV’s EaS-E Electric Car Launched In India

0
With a top speed of 70 kmph, it claims to clock from zero to 40 kmph within five seconds. The nano-sized EV is...
Startup Funded

Spot AI: Video Intelligence Start-up Secures $40 Mn

0
The modern AI camera system maker aims to transform data from business cameras into video intelligence and accelerate its expansion Video intelligence company Spot AI...

Manufacturing

New Product Distribution Center by TI in Germany

0
The centre in Frankfurt enables same-day delivery to central Germany next-day delivery capabilities to most European-based customers.  Texas Instruments, a global semiconductor company whose presence...

Redwood to Supply High-Nickel Cathode to Panasonic

0
Despite the increasing demand, there is no cathode production at scale in North America today: Battery material maker Redwood As per the latest reports, Panasonic...
Infineon, CoolSiC

Infineon Planning New Factory in Dresden

0
The semiconductor major has enhanced its long-term financial targets after witnessing a remarkable FY22 Germany-based Infineon Technologies recently released its results for the fourth quarter...

Uno Minda To Invest Rs 400 Cr In New Light Plant

0
The plant is intended to be commissioned by Q4 FY24 The group registered its highest-ever quarterly performance recently As per the latest reports, the...

New Demonstration Facility by SASinno in Washington

0
Ant-i1 offline selective soldering machine and SELMATE-4 N2 generator are up for demonstration. SASinno that stands for “Smart and Steady Innovation”, has announced a new...