India's Defence Sector Surges with iDEX Innovation, Aiming for First Defence Unicorn
India's defence sector is witnessing a surge in innovation and growth. The Innovations for Defence Excellence (iDEX) initiative, launched in 2018, has connected young innovators with the Indian Armed Forces' technological needs. This has led to over 650 startups driving breakthrough solutions, with prototype procurements worth ₹3,000 crore. The sector's production has surpassed ₹1.5 lakh crore, and exports have reached ₹23,000 crore in the last financial year.
The iDEX program has not only fostered innovation but also provided recognition to companies that have demonstrated their capabilities. However, specific information about these companies during Operation Sindoor is not readily available from search results.
The government is committed to supporting this growth. The Ministry of Defence will collaborate with DST, DPIIT, and financial institutions to provide end-to-end support for defence startups. The upcoming Defence Procurement Manual (DPM-2025) promises assured orders for startups for up to ten years. Additionally, 25% of annual defence procurement is reserved for Micro and Small Enterprises (MSEs), with over 350 products exclusively earmarked for them.
Looking ahead, the battlefield of the future is expected to be shaped by algorithms and automation. India's domestic defence capital acquisitions have already seen a significant increase, from ₹74,000 crore in FY 2021-22 to ₹1.2 lakh crore in FY 2024-25. The aim is to create India's first Defence Unicorn in the defence sector.
The iDEX initiative has proven successful in fostering innovation and growth in India's defence sector. With government support, increased procurement, and a focus on emerging technologies, the sector is poised for further expansion. The upcoming DPM-2025 and reserved procurement for MSEs are expected to boost this growth, contributing to India's national growth and defence capabilities.
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