Indian Defence Minister Rajnath Singh increases funding under DRDO’s TDF scheme to Rs 50 crore
- ByStartupStory | June 13, 2022
Defence Minister Rajnath Singh approved increasing funding under the Defence Ministry’s Technology Development Fund (TDF) from Rs 10 crore to Rs 50 crore per project. The TDF scheme encourages MSMEs and start-ups to develop indigenous components, products, systems, and technologies. It is carried out by the Defense Research and Development Organization (DRDO).
Under the Union Budget 2022-23, the Centre allocated 25% of the defence R&D budget to private companies, startups, and academics.
The enhanced funding is in line with the budget announcement and will help to further strengthen the vision of ‘Aatmanirbharta in defence,’ according to the Defence Ministry.
The TDF Program’s main goal is to provide a significant boost to the defence manufacturing industry by encouraging it to innovate and develop defence technology in order to put India on the path to self-sufficiency.
The program provides funding for up to 90% of the total cost of the project, allowing industry to collaborate with another industry.
Increased investment will enable the industry and startups to develop more complex technologies for existing and future weapon systems and platforms. To date, the TDF program has approved 56 projects.
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