Visakhapatnam: Visakhapatnam will host to the second regional defense MSME conclave on December 16 which is being organized by the Society of Indian Defense Manufacturers (SIDM) and Confederation of Indian Industry in partnership with the Department of Defense Production, Ministry of Defense and Bharat Dynamics Ltd.
The conclave aims to bring together key stakeholders for the first time on a unified platform to discuss and chart the future roadmap for the participation of MSMEs and Start-ups in India’s thriving defense sector.
The Government initiatives have propelled significant growth of defense sector averaging 20 percent in financial year 2023-24 seeing a record domestic defense production of ₹1.27 lakh crore with defense exports crossing ₹21,000 crore.
With the government’s continuous focus on Make in India, through several initiatives such as Positive indigenisation List, 70 percent procurement is reserved through Indian entities.
Key representatives from the Department of Defense Production, Ministry of Defense, Naval Dockyards, Naval Projects, Ship Building Center and financial institutions will be present to provide valuable insights on government initiatives, MSME-friendly schemes, access to finance and business opportunities available in the defense sector.
Vice Admiral Rajesh Pendharkar, Flag Officer Commanding-in-Chief, Eastern Naval Command, will grace the conclave as the guest of honor.
SIDM, founded in 2017 under the aegis of CII, represents over 700 defence manufacturers across India.
