Sunday, June 15, 2025
  • Home
  • About us
  • Privacy policy
  • Advertise with us
  • Contact us
Fii News Logo
No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Newsletter
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports
Fiinews
No Result
View All Result
Home Exports

Exports: MSMEs has become part of global supply chain, says Defence Minister

Fiinews by Fiinews
November 5, 2023
in Exports
Reading Time: 2 mins read
A A
0
IMS 2023
0
SHARES
10
VIEWS
LinkedinShare on Twitter

0:00

Rajnath Singh says small industries are motor of the Indian economy

Many of the Medium, Small and Medium Enterprises (MSMEs) are doing well in exports and are becoming a part of the global supply chain of the world’s biggest companies, notes Defence Minister Rajnath Singh.

“Heavy industries, too, play a big role in the nation’s development, but the country cannot fully progress by ignoring small industries,” he said at the inauguration of three-day ‘India Manufacturing Show’ in Bengaluru on 2 Nov 2023.

“Small industries are the motor of the Indian economy. The faster the motor runs, the quicker the vehicle of the economy moves,” he said, also crediting the small industries for maintaining stability in the economy.

Rajnath Singh also underlined the ability of small industries to adapt to the changes more easily than large industries. “It is the adaptability of small industries which increases the possibilities of innovation. Many times, small industries bring more innovation than large industries in terms of new products, services and business models,” he underscored.

But he also noted the importance of big industries, which reports turnovers in thousands of crore rupees, were once small industries.

He also enumerated the unprecedented steps taken for MSMEs in the defence sector.

He elaborated, “We are the first government which imposed restrictions on itself for the import of weapons. We released five positive indigenisation lists, under which 509 equipment have been identified, the manufacturing of which will now take place in India.

“In addition, four positive indigenisation lists for Defence Public Sector Undertakings (DPSUs) were also promulgated, under which 4,666 items were identified, that will be manufactured within the country.

“To ensure adequate demand assurance for our domestic industries, we reserved 75% of the defence capital acquisition budget, which amounts to approximately Rs.1 lakh crore, for purchases from local companies. These steps will strengthen our MSMEs,” Rajnath Singh reassured MSMEs.

The Minister also referred to the Innovations for Defence Excellence (iDEX) initiative, which was launched to invite new ideas in defence manufacturing through start-ups and innovators.

He added that iDEX Prime was launched to support projects, requiring support beyond Rs.1.5 crore up to Rs.10 crore, to help the start-ups in the defence sector.

The sixth edition of ‘India Manufacturing Show’ provides a platform to the exhibitors to showcase their technologies, equipment and R&D in different sectors, such as aerospace & defence engineering, automation, robotics & drones to the participants.

The aim is to bring together best minds, best technologies and best practices while providing business and knowledge sharing opportunities for its participants, the Ministry of Defence said. fiinews.com

Tags: Ministry of Defence
ShareTweetShare

Related Posts

H V Agarwal Ficci
Exports

Export: FIEO lauds RBI repo rate decision

by Fiinews
June 15, 2025
0
12

Move will help boost domestic demand, says Agarwal The Federation of Indian Export Organisations (FIEO) has lauded the Reserve Bank...

Confederation Of Swedish Enterprise Organization.
Exports

Export: Stockholm meetings focused on trade

by Fiinews
June 14, 2025
0
14

Minister-delegation met Swedish institutions-businesses Minister of Commerce and Industry Piyush Goyal has discussed expanding the scope of India–Sweden trade and...

Kasturi Cotton Logo

Export: Textile sector to create road map

June 13, 2025
12
Sihk Ccis Of Switzerland

Export: India-Swiss talks focused on economies

June 13, 2025
13
A2a

Export: Minister-led delegation visit Brescia hub

June 8, 2025
14
Chile Asean Chamber Logo

Export: India-Chile start trade talks

June 1, 2025
14
SBI YONO

POPULAR NEWS

  • Cristina Dnv

    Projects: Indian yards set to build green ships, says DNV expert

    0 shares
    Share 0 Tweet 0
  • Market: Indian-origin UGF scales heritage consumer brands globally

    0 shares
    Share 0 Tweet 0
  • Technologies: Royal Diamond sponsors aerspace Industries’ drones in UAE

    0 shares
    Share 0 Tweet 0
  • Investments: Foreign investors see India as long-term destination for fund placings

    0 shares
    Share 0 Tweet 0
  • Markets: Blue Dart maintains positive outlook on India

    0 shares
    Share 0 Tweet 0

Fiinews.com features through news articles on business opportunities in the Indian market for the benefits of foreigners. It is also a platform for international businesses to showcase through elaborate articles on their products & services to the Indian consumers and corporations exploiting industrialisation of the country.

7Clicks Media is a Singapore based Media & PR company offering over 100,000
impressions via our targeted communication strategy.

It is led by editor-in-chief Gurdip Singh who has worked over 45 years reporting on
Asian businesses.

Recent News

  • Tech: Infobell-AMD expand AI collaboration
  • Manufacturing: Grainspan supplies ethanol to OMCs
  • Project: Mont Vert to build Kazakh Hospital
  • Project: CMA CGM in discussions with Shipping entities
  • Project: Minister reviews GHAVP plant

Pages

  • About US
  • ADVERTISE ON FIINEWS.COM
  • CONTACT US
  • EVENTS
  • FII-NEWS.COM PDF ARCHIVE
  • Home
  • News
  • PRIVACY POLICY

Subscribe to Newsletter

  • About
  • Advertise
  • Careers
  • Contact us

© 2024 FIINEWS - Design and developed by 7clicksmedia.

No Result
View All Result
  • Tenders
  • Projects
  • Markets
  • Manufacturing
  • Investment
  • Technology
  • Exports

© 2024 FIINEWS - Design and developed by 7clicksmedia.