Prime Minister Narendra Modi delivered video address in an event organized by the Defence Ministry to dedicate the seven new defence companies to the nation. He recalled the various initiatives and reforms undertaken in the recent past that have created Trust, Transparency and Technology driven approach in the defence sector like never before.
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).
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