MSMEs in Defence Sector
The Ministry of Micro, Small & Medium Enterprises (MSME) works for promotion and development of Micro, Small and Medium Enterprises (MSMEs) in the country. The MSMED Act, 2006, specifies criteria for defining MSMEs based on investment in plant & machinery (for manufacturing) and equipment (for services). This covers all the sectors including defence and space. In addition, Ministry of Defence has brought out Defence procurement policy 2016 under which Government funded projects with estimated cost of prototype development phase not exceeding Rs. 10 crore and Industry funded projects with estimated cost of prototype development phase not exceeding Rs. 3 crore are earmarked for MSMEs.
This information was given by the Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh in a written reply to a question in Lok Sabha here today.
This information was given by the Minister of State, Micro, Small and Medium Enterprises, Shri Giriraj Singh in a written reply to a question in Lok Sabha here today.
