: Defence sector holds huge opportunities for MSMEs and Startups: SIDM #finance #StockMarketNEWS Defence sector holds huge opportunities for MSMEs and Startups: SIDM Visakhapatnam, April 21 (KNN) The countrys

Defence sector holds huge opportunities for MSMEs and Startups: SIDM #finance #StockMarketNEWS
Defence sector holds huge opportunities for MSMEs and Startups: SIDM Visakhapatnam, April 21 (KNN) The countrys defence sector has a huge scope for MSMEs, startups and entrepreneurs in the manufacturing segment, said J Srinivasa Raju, Chairman, Society of Indian Defence Manufacturers (SIDM), Andhra Pradesh.

“MSMEs entering the defence manufacturing segment will give a push to the objective of building a self-reliant India,” he added.

Speaking at the Vendor Conclave-2022, Raju highlighted the steps taken by the central government to provide impetus to indigenous manufacturing by opening up the defence industry for private sector participation.

Calling the defence manufacturing industry as a significant sector for the economy, he said initiatives such as ‘Make in India’ has encouraged MSMEs and Start-ups with potential opportunities available in the defence services ecosystem.

Sharing his view on the topic, Cmde MM Mohan Raju, material superintendent, material organisation Visakhapatnam, said domestic demand of defence sector should be fulfilled by Indian manufacturing industries.

He emphasised on the government’s vision to make India self-reliant in defence sector and how it has encouraged ease of doing business for Atmanirbhar Bharat.

The conclave was organised by Confederation of Indian Industry- Andhra Pradesh, Society of Indian Defence Manufacturers in association wiith material organisation Visakhapatnam (Eastern Naval Command). (KNN Bureau)

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