Asianet NewsableAsianet Newsable

India gets 7 new defence companies; they already have orders worth about Rs 65,000 crore

These seven companies were formed out of the 41 Ordnance Factory Board. The companies are 100 per cent government-controlled corporate entities that have been mandated to improve self-reliance in the defence preparedness of the country. 

India gets 7 new defence companies; they already have orders worth about Rs 65,000 crore
Author
New Delhi, First Published Oct 15, 2021, 2:31 PM IST
  • Facebook
  • Twitter
  • Whatsapp

Prime Minister Narendra Modi on Friday dedicated seven new defence companies to the nation that will play a crucial role in making the Indian military a world-class armed force. 

These seven companies were formed out of the 41 Ordnance Factory Board. The companies are 100 per cent government-controlled corporate entities that have been mandated to improve self-reliance in the defence preparedness of the country. 

In his video message, the prime minister indirectly accused the past governments of doing nothing to make the OFBs a modern entity. 

"In the past, OFB was counted among the world's most powerful companies. After Independence, there was a need to modernise it but no attention was given to it. For strategic needs, India gets dependent on imports. These 7 companies will play a vital role in changing the existing scenario," Prime Minister Modi said.

Highlighting the measures his government has undertaken in the last 7 years, the prime minister said, "Under self-reliant India campaign, the goal is to make country world's biggest military power on its own. It’s time for developing the modern defence industry in India."

He also exuded confidence that these 7 new companies would be proven to be the foundational milestone of India’s military prowess in the days to come. 

It is pertinent to mention here that the defence companies were dedicated on the occasion of Vijayadashmi, which is considered to be an auspicious moment in Hinduism. 

"I urge these 7 companies to prioritise 'research and innovation' in their work culture. You've to take lead in future technology, give opportunities to researchers," he added.

Prime Minister Modi also appealed to startups to collaborate with these seven companies.

Stating that India is taking new resolutions to build a new future, the prime minister said, "Today, there is more transparency, trust and technology-driven approach in defence sector than ever before."

After independence, it is for the first time that major reforms initiatives are being undertaken, he added. 

Earlier, Defence Minister Rajnath Singh mentioned that orders worth about Rs 65,000 crore had been placed to these defence entities.  

The seven new Defence companies that have been incorporated are Munitions India Limited (MIL); Armoured Vehicles Nigam Limited (AVANI); Advanced Weapons and Equipment India Limited (AWE India); Troop Comforts Limited (TCL); Yantra India Limited (YIL); India Optel Limited (IOL); and Gliders India Limited (GIL).

Also Read

Strategic Sela Tunnel crosses major landmark (WATCH VIDEO)

350 Indian Armymen headed for 'Yudh Abhyas' in Alaska

Follow Us:
Download App:
  • android
  • ios