Speaking at the second Strategic Electronics Summit (SES) at HAL convention centre, Joint Secretary, Department of IT Ajay Kumar said that upto Rs 20,000 crores have been allotted to support start-up ventures over the next 10 years and Rs 1 lakh crore has been proposed by the government to be given as investment subsidies. Kumar added that the minimum eligibility limit of non-SEZ companies for subsidies has been reduced Rs one crore.
SES 2011, an event organised by Electronic Industries Association of India (ELCINA) focused on induction of domestic companies into the defence and aerospace foray. IISC Professor Dwarka Das spoke about the need for a balance between the large and small enterprises.
“Few years ago there was a Technology Development Fund which had $15 million allotted. Only 5 per cent was was disbursed and remaining money simply went back to the government.” The seminar was followed by an exhibition with 25 stalls of different Indian firms involved in production of defence technology.
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