Raksha Mantri Awards for Excellence in Defence and Aerospace Sector, has been conceptualized with the following core objectives:    

• To encourage and reward, excellence in various dimensions of Defence and Aerospace Sector.
• To facilitate widening and deepening of Industrial base in IndianDefence and Aerospace sector by identifying ‘hidden gems’ and promotingthem as role models for others.
• To provide a boost to export potential in Defence and Aerospace sectorby publicising outstanding achievements at national and international level.
• To encourage indigenous design, manufacture and innovation byinstituting focused awards in these categories.
• To facilitate wider recognition of outstanding Indian firms amongstnational and international customers in Defence and Aerospace sector.

Formal Guidelines was issued by Department of Defence Production, Ministry of Defence on 26 August 2019.

The awards include those in Institutional and Individual/Team category for Excellence in Technological Breakthroughs, Indigenization/Import Substitution and Excellence in Exports. Participating companies/entities have been further segregated under Large, Medium, Small and Start-Up in order to ensure a level playing field for competition. In the individual /Team Category, employees from Defence & Aerospace Industries will participate based on authorization from the concerned firm. Cash Awards have also been catered in case of Individual/Team categories.

It is expected that this move will facilitate widening and deepening of Industrial base in Defence and Aerospace Sector by identifying ‘hidden gems’ and wider recognition of outstanding Indian firms amongst national and international customers. It is also expected to provide a boost to export potential of Indian defence industry, especially for MSME and Start-Up firms, by publicising their outstanding achievements at the global level. Awards are also aimed at encouraging Indian industries to invest in technology and product innovations to address capability gaps of defence forces and also to inculcate the culture and spirit of innovation.

Award category of Indigenization/Import Substitution is aimed at encouraging Indian defence industries to indigenize spares for import substitution and thus save Foreign exchange, thus fostering the vision of Atma Nirbhar Bharat of our Nation.