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Easier defence deals up to INR 150 cr for startups

A new set of guidelines have been issued for the ‘Make in India’ purchases being planned by the armed forces. The defence ministry has stipulated thatstartups can now bid for contracts valued less than INR 150 crore without the burden of providing financial credentials.

The government has another scheme to encourage startups under its Defence Innovation Fund (DIF) with a maximum corpus of INR 100 crore to identify, promote and fund research and innovation in the private sector. It also has a Defence India Startup challenge to seek solutions from startups to various challenges.