PM Modi will dedicate 7 new Defence Companies Today
This move will bring about enhanced functional autonomy, efficiency and will unleash new growth potential and innovation.
Prime Minister Shri Narendra Modi/Image: PTI
New Delhi: Prime Minister Narendra Modi today will deliver a video address at an event organized by the Defence Ministry, to dedicate the seven new Defence Companies to the Nation on the occasion of Vijayadashami.
Defence Minister, MoS Defence, and representatives from the Defence industry associations will be present on the occasion.
The Government has decided to convert Ordnance Factory Board from a Government Department into seven 100% Government-owned corporate entities, as a measure to improve self-reliance in the defence preparedness of the country. This move will bring about enhanced functional autonomy, efficiency and will unleash new growth potential and innovation.
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).
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