Wednesday, September, 22,2021

ISDA 2021: Defence corridor boost to MSME prospects

Lucknow: The Defence & Aerospace sector in India is at an inflection point, given the modernisation and indigenisation programmes being undertaken by all the three services of the second largest military force in the world. India has the 5th largest defence budget in the world. 

The defence sector is one of the key sectors under the “Make in India” initiative of the Government of India, which has huge potential to boost manufacturing capability and employment in the country. The sector is poised to reach $26 billion by 2025 as per the government projections.

Speaking about Indigenisation Sumit on Defence & Aerospace (ISDA 2021), ACS Home and UPEIDA CEO Awanish Awasthi said the state has the largest base of MSMEs which can be effectively tapped to become potential suppliers to the defence sector with the right guidance on the requirements. ISDA aims to take a step in this direction. 

UPEIDA being the nodal agency for the development of the UP Defence Corridor can further embolden the move with its lucrative land rates, enabling policy & upcoming Common Facilitation Centre near the airport. Awasthi also shared that  CM Yogi would be inaugurating ISDA virtually on July 28.
 

Tags
  • MSMEs
  • Indigenisation Sumit on Defence & Aerospace
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