SOURCE: AFI
In a significant announcement made at the Khatre Memorial Talks, Samir V. Kamat, Secretary of the Department of Defence Research and Development (DDR&D) and Chairman of the Defence Research and Development Organisation (DRDO), revealed that the Technology Development Fund (TDF) will now be on par with the Defense Advanced Research Projects Agency (DARPA).
The TDF aims to catalyze innovation in the defense manufacturing sector by providing financial support to industry-led technology development projects. This initiative is a cornerstone of India’s self-reliance drive in defense.
Under the TDF scheme, grants-in-aid will be provided to encourage the development of indigenous defense technologies. The project cost can be up to INR 50,00,00,000/-, and the funding may cover up to 90% of the total project cost.
To foster collaboration and knowledge sharing, the TDF allows industries to partner with academia or research institutions. The funding will be linked to mutually agreed milestones, ensuring that the funds are utilized effectively and efficiently.
The TDF offers flexible funding options, allowing industries to choose between advance payments with a bank guarantee or reimbursement based on milestone completion. This ensures that funds are released at appropriate stages of the project.
By providing substantial financial support and fostering collaboration, the TDF is expected to drive innovation and promote the growth of the defense manufacturing sector in India. This initiative aligns with the government’s vision of making India a global defense manufacturing hub.