Prime Minister Modi and Defence Minister Rajnath Singh, on Friday, launched seven new defense companies on the occasion of Vijayadashmi. These seven companies have been carved out of the Ordnance Factory Board. The PM, while launching the new companies said that the changes will provide a huge base for India's millitary.
According to a release by the Prime Minister's Office, the Government has decided to convert Ordnance Factory Board from a Government Department into seven 100 percent government-owned corporate entities, as a measure to improve self-reliance in the defense preparedness of the country.
PM Modi said, “India is taking new resolutions to build a new future. The decision to revamp 41 ordnance factories and the launch of these seven companies is a part of this resolution journey. This decision had been pending for the last 15-20 years."
The seven new companies which have been launched 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).
"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. I would also urge startups to collaborate with these 7 companies," said PM Modi.
The PM also pointed out that India's ordnance factories were the most powerful globally at one period of time, and that these factories had the experience of more than 100 to 150 years.
“During World War, the world saw the strength of India's ordnance factories. We used to have better resources and world-class skills. Post Independence, we needed to upgrade these factories, adopt new-age technology. But it didn’t get much attention,” PM Modi said.
(With inputs from PTI)