: More than 12,000 SMEs a part of defence sector, says MoS MSME Verma #FinanceIndia #StockMarketNEWS More than 12,000 SMEs a part of defence sector, says MoS MSME Verma New Delhi, Mar 31 (KNN) The

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More than 12,000 SMEs a part of defence sector, says MoS MSME Verma #FinanceIndia #StockMarketNEWS
More than 12,000 SMEs a part of defence sector, says MoS MSME Verma New Delhi, Mar 31 (KNN) The defence sector constitutes of more than 12,000 Small and Medium Sized Enterprises (SMEs) and there has been an increase in R&D, start-ups and innovation, said Minister of State for MSMEs, Bhanu Pratap Singh Verma.

He said that the defence supply chain should consist of more MSMEs.

MoS MSME was speaking at the 2nd International Conference on Defence and Security’ organised by PHDCCI in New Delhi.

He highlighted on the initiatives taken by the Ministry of Defence to encourage participation of MSMEs in the sector to promote self-reliance.

The PHDCCI event was held for two days wherein policy makers, industry experts and international delegates participated.

Sanjay Jaju, Additional Secretary Defence Production Ministry of Defence called the current times as the most enthusiastic phase for defence manufacturing ecosystem in India.

Emphasising on the government’s vision of Aatmanirbhar Bharat, Jaju said the domestic manufacturing ecosystem is backed by the national self belief of having abilities to be world class in defence, security infrastructure and manufacturing. (KNN Bureau)

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