TIL Desk/National/New Delhi/ Acknowledging the hardships faced by the defence industry, Defence Minister Rajnath Singh said on Thursday the manufacturing sector has been affected the most due to lockdown and disruption in existing supply chains.
While addressing through video conference of Micro, Small and Medium Enterprises (MSMEs) E-conclave in Delhi, Singh said: “The defence sector is no exception to this. Rather, it can be said that the defence sector is more aggravated than other sectors as the only buyer of defence products is the government.” The minister said to tackle these challenges, MoD has taken several steps for industries, especially MSMEs.
He said steps such as extension of response dates of RFP/RFI and early clearance of pending payments will help the industry. “In this crisis, several financial support measures have been announced by the government and RBI to reduce the financial burden of the industries. These will provide some relief due to the availability of additional working capital and deferment in interest payments,” Singh said.
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