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Stocks related to the defence industry were trading higher on the BSE, after the government has launched Acing Development of Innovative Technologies with iDEX (ADITI) scheme, with an aim to promote innovations in critical and strategic defence technologies. Under the scheme, start-ups are eligible to receive grant-in-aid of up to Rs 25 crore for their research, development, and innovation endeavours in defence technology. 

Bharat Electronics is currently trading at Rs. 210.40, up by 3.85 points or 1.86% from its previous closing of Rs. 206.55 on the BSE.

Hindustan Aeronautics is currently trading at Rs. 3213.95, up by 56.50 points or 1.79% from its previous closing of Rs. 3157.45 on the BSE.

Bharat Dynamics is currently trading at Rs. 1849.00, up by 5.35 points or 0.29% from its previous closing of Rs. 1843.65 on the BSE.

The ADITI scheme worth Rs 750 crore for the period 2023-24 to 2025-26 falls under the iDEX (Innovations for Defence Excellence) framework of Department of Defence Production (DDP), Ministry of Defence. It aims to develop about 30 deep-tech critical and strategic technologies in the proposed timeframe. 

The scheme also envisages to create a ‘Technology Watch Tool’ to bridge the gap between the expectations and requirements of the modern Armed Forces and the capabilities of the defence innovation ecosystem. In the first edition of ADITI, 17 challenges - Indian Army (3), Indian Navy (5), Indian Air Force (5) and Defence Space Agency (4) - have been launched.

The launch of the ADITI Scheme underscores the Government's unwavering commitment to promote innovation, entrepreneurship, and self-reliance in defence production. This initiative is poised to accelerate India's journey towards becoming a global leader in defence technology and innovation, ensuring the nation's security and sovereignty in the years to come.