Defence Minister Nirmala Sitharaman launched in Tiruchi on Sunday the Defence Innovation Hub of Codissia (Coimbatore District Small Industries Association) by handing over a certification to its office-bearers during the launch of projects under Tamil Nadu Defence Industrial Corridor.
The Codissia Defence Innovation and Incubation Centre (CDIIC) is the first of its kind hub in the country. The Defence Minister appreciated the pro-active approach of the Association saying it was the first to take part in Atal Innovation Mission.
With membership of around 6,500, Codissia will take up manufacture of over 50 high value defence-sector related products at an investment of ₹ 150 crore over the next four years. Local vendors will be mapped for sourcing components for the products.
Codissia president R. Ramamurthy claimed that this is the first time an innovation project is given to MSME sector. The Association had submitted a detailed project report to the Government last month for the innovation hub. It will now work with the Government to finalise the modalities and take the steps required to operationalise the hub.
“The hub has been launched and this is the first step. We will take further steps now,” he said.