Indian Defence Minister Nirmala Sitaraman met with the Indian industry chambers like CII and Assocham and startups in Hyderabad where the Global Entrepreneurship was being held. She wants to explore the possibility of roping in women led startups to develop capabilities for supplies to the country’s defence sector. She says a huge list has already been drawn up and will form the background to the interaction the minister will have with the delegates to these interactions.
The minister made this remark during her presence at the GES and in a session devoted to discussing the opportunities for women entrepreneurs and the panel had Ivanka Trump also present.
Nirmala Sitaraman praised the Indian startups which are already playing a crucial role in the defense sector in India as well as overseas. In her own words, "We want to make sure that we leverage that opportunity ...and ensure that these startups are given equal playing opportunities when tenders are given out by the government asking for people to supply (goods and services)".
She further added that the existing regulations in the tendering process do not permit the startups to take part mainly due to the stipulation related to previous work done in the related field to be eligible to apply. She said this is being seriously reviewed at the level of the government and she is hopeful these restrictions may be relaxed to enable startups with the background and capability to be part of the transparent process to finalise vendors for defence procurements.
On her part Ivanka Trump mentioned that the US government is also trying to encourage women entrepreneurs by creating the right kind of environment for them to prove their mettle and also pave the way for them to access credit easily.