Prime Minister Narendra Modi will dedicate seven new defense companies to the nation on the auspicious occasion of Vijayadashami today.
He will deliver a video address at an event organized by the Defense Ministry. Defense Minister Rajnath Singh and representatives of defense industry associations will be present on the occasion.
According to a release from the Prime Minister’s Office, the government has decided to convert the Ordnance Factory Board from a government department into seven 100 per cent state-owned corporate entities as a measure to improve self-reliance in defense preparedness of the country.
The move will enhance functional autonomy, efficiency and spur new growth potential and innovation, the statement said.
The seven new defense companies that have been inducted are Munition India Limited (MIL); Armored Vehicles Corporation Limited (Avni); 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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