GOI decided to convert Ordnance Factory Board from a Government Department into seven 100% Government owned corporate entities
On the auspicious occasion of Vijayadashami, Prime Minister Shri Narendra Modi will deliver video address in an event organized by the Defence Ministry, to dedicate the seven new Defence Companies to the Nation, on 15th October, 2021 at around 12:10 PM.
Defence Minister, MoS Defence and representatives from the Defence industry associations will be present on the occasion.
About 7 New Defence companies
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).