Indian Economy News

(iDEX)- (DIO) signed the 150th contract for defence innovation

Innovations for Defence Excellence (iDEX), the flagship initiative of the Department of Defence Productions signed its 150th contract titled ‘Expendable Mobile Anti-Submarine Warfare (ASW) Training Target (EMATT) capable of simulating the sound and movement of a submarine’. This contract relates to an Indian Navy project of the Defence India Start-up Challenge (DISC 7) SPRINT edition and the winner was Altair Infrasec Pvt. Ltd., Pune.

The contract was signed by the Joint Secretary and Additional CEO, Defence Industries Production, Mr. Anurag Bajpai with Mr. Anil Anand, CEO, Altair Infrasec Pvt. Ltd. in the presence of Defence Secretary Mr. Giridhar Aramane and other Minister of Defence officials.

The iDEX is being implemented by the Defence Innovation Organisation (DIO) and was launched in 2018 to provide a platform for co-creation and co-development in the defence industry. iDEX emerged as a game changer in the defence industry through its programmes like DISC, Prime and Open Challenges (OC). More than 6,500 applications have been received by iDEX from individual innovators, MSMEs and start-ups under DISC, Prime and OC.

iDEX is making efforts and trying to develop cutting-edge technology products to make India ‘Aatmanirbhar’ and achieve the export target of US$ 5 billion (Rs. 40,000 crores), to transform India into a global defence manufacturing hub in the next 25 years.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.