Explanation:

Recently, Defence Minister has launched the Naval Innovation and Indigenisation Organisation (NIIO). The NIIO puts in place dedicated structures for the end users to interact with academia and industry towards fostering innovation and indigenisation for self-reliance in defence. The Draft Defence Acquisition Policy 2020 (DAP 20) rolled out by the Defence Ministry last month envisaged establishment of Innovation and Indigenisation Organisation by the Service Headquarters.

• The NIIO is a three-tiered organisation.
• Naval Technology Acceleration Council (N-TAC) will bring together the twin aspects of innovation and indigenisation and provide apex level directives.
• A working group under the N-TAC will implement the projects.
• A Technology Development Acceleration Cell (TDAC) has also been created for induction of emerging disruptive technology in an accelerated time frame.
• A compendium of Indian Navy’s Indigenisation perspective plans titled ‘SWAVLAMBAN’ was also released on the occasion.

Hence both statements are correct.