Bengaluru: Stating that self reliance in adherence sector is crucial in achieving self reliance, the Union Defence minister Rajnath Singh has said that Defence organisations have opened up patents to private industries to encourage innovation to achieve excellence.
Addressing the conclave 'StartUp Manthan 2021' organised on the sidelines of the Aero India 2021 here today, the minister said that more than Rs 4500 crore had been invested into the Start-Up companies working in the field of Defence manufacturing sector.
Lauding the achievements made in the field of Defence related manufacturing industries, he predicted that the 'future of Economy would be driven by the Starts-Ups".
Informing that this year over Rs 100 crore worth of products related to the Defence sector had been developed by the Start Up companies, he said that during the Aero India event SME's had been won over Rs 203 crore worth of product of develop.
He said that by encouraging start ups in the Defence sector would help to harness talent and explore excellence.
Stating that Innovation in various fields had been developed by the Start Up companies, he said that the Start-Ups Manthan 2021 would open challenge opportunity for innovations.
"Several outstanding progress had been made in innovation in various platforms by the Start-Ups" he said.He also said that "Information Technology features Start Up ventures in arms manufacturing".(UNI)