Rajnath Singh urges MSMEs to invest in the Research and Development 

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“We have an estimated ₹85,000 crore industry of aerospace and defence. The contribution of the private sector in this has increased to ₹18,000 crores,” Rajnath Singh said in his speech at the MSME conclave.

In the past seven years, India has been successful in exporting defence items that are worth more than ₹38,000 crores. The country is working towards becoming an overall net exporter soon, the defence minister Rajnath Singh exclaimed on Saturday.

“We have an estimated ₹85,000 crore industry of aerospace and defence. The contribution of the private sector in this has increased to ₹18,000 crores,” he said in his speech at the MSME conclave of the Society of Indian Defence Manufacturers (SIDM).

Singh urged the MSMEs to invest more in research and development as it would help strengthen the nation’s security. “You should bring new technologies, new products. You should not think that just because you are small, you cannot do great innovation,” he added.

With the government’s diligent efforts over 12000 MSMSs have joined the defence industry, the defence minister said. “

Defence exports from India during the last seven years have been more than ₹38,000 crore due to the government’s initiatives,” he exclaimed. The government has been taking important measures and thus development, research, innovation and the number of startups have been increased in the defence sector, Rajnath Singh said. 

“Therefore, the number of contracts given to the indigenous defence industry has increased,” he said.

Rajnath Singh said big companies are playing a crucial role in defence manufacturing but if we come across the reality then the work of numerous small companies is hidden behind that of big companies.

“Big defence platforms are assembled from numerous small parts and most of them are provided by the MSMEs,” he noted.

“Therefore, I believe that the term ‘industry’ really means MSMEs as they are not only responsible for economic activities but also for societal progress,” he added.

 

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