India does not need a government-backed venture capital fund for its defence sector, Defence Secretary Rajesh Kumar Singh said, stressing that assured government orders and faster contract approvals are enough to draw private investment into defence manufacturing.
Addressing ANI's National Security Summit here, the Defence Secretary said, "Overtime you will see the shift (from import dependence) and hopefully the majority of our equipment will be will be Indian in the next 10 years or so."
A day-long industry interaction and brainstorming session was organised by Defence Research and Development Organisation (DRDO) at Research Centre Imarat in Hyderabad. Held on Saturday, it was aimed at bringing all defence industries, including MSMEs and start-ups, to one platform for unders
The United States and India concluded their US-India initiative on Critical and Emerging Technology (iCET) meeting and decided to launch a new "Innovation Bridge", which will connect both countries' defence startups, according to the statement released by the White House.