India Union Budget 2022: Defence R&D to be opened up for startups
WION Web Team
New DelhiUpdated: Feb 01, 2022, 12:23 PM IST
Photograph:(AFP)
Story highlights
India's finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector.
As India's defences face multiple challenges across the country, India's finance minister Nirmala Sitharaman during the Budget 2022 presentation in Parliament announced a plan to boost the defence sector.
Budget 2022: Key highlights in the defence sector:
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- 68 per cent of capital for the defence sector to be earmarked for local industry which is up from the 58 per cent from last fiscal.
- Defence R&D to be opened up for startups, industry and academia with 25 per cent of defence R&D budget.
- Private players to be encouraged to take up the design and development of military platforms in collaboration with DRDO.
- Promote Aatmanirbharta and reduce dependence on imports of defence equipment.
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