Startups and small business owners, gear up for MSME conclave in Visakhapatnam

On December 16, Visakhapatnam will witness a regional defence Micro, Small and Medium Enterprises (MSME) conclave following the first in Indore, Madhya Pradesh.

The conclave will bring big players from across India’s manufacturing ecosystem. 

The Society of India Defense Manufactures (SIDM) and Confederation of Indian Industry (CII) are partnering with the Department of Defense Production, Ministry of Defense and Bharat Dynamics Ltd to organize this event. 

The conclave aims to make a comprehensive future roadmap to opportunities for MSME and start-ups participating in the growing Indian defence sector. 

The Indian defence sector experienced a significant growth of 20 per cent in the financial year 2023-2024. The recorded domestic defence production was Rs 1.27 lakh crore, whereas the defence exports were over Rs 21,000 crore. 

With the central government focusing on the Make in India campaign and launching several initiatives like the Positive Indigenization List, 70 per cent of procurement was reserved through Indian entities. 

The second MSME conclave, that is going to happen in Visakhapatnam will be focusing on building partnerships, discussing strategic opportunities, and helping micro and small businesses become a key part of India’s defence manufacturing industry. 

Vice Admiral Rajesh Pendharkar, Flag Officer

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SIDM, established in 2017 under the Confederation of Indian Industry’s aegis, currently represents over 700 defence manufacturers nationwide, underscoring the sector’s robust and growing industrial landscape.

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