On Vijayadashami, PM Modi launches 7 defence PSUs carved out of OFB

The companies would manufacture equipment including ammunition, explosives, army vehicles, advance weapon, troop comfort items, optical electronics, and parachutes.

“One company would produce ammunition and explosives. Another company will manufacture army vehicles, advance weapons, troop comfort items, optical electronics or parachutes,” said the Prime Minister at the launch of seven defence companies at an event organized by the Defence Ministry on the DRDO Campus here.

“Our objective is that every company not only achieve expertise in this field and become a global brand. Competitive cost is our strength. Quality and reliability should be our identity,” said Modi.

The decision to revamp 41 ordinance factories and the launch of seven new companies is a part of this journey of the country.

This decision was pending for the last 15-20 years.

“I am confident that all these seven companies will become a major base of India’s military power in the coming times,” said PM Modi.

“The seven new companies that are going to enter the defence sector today will fulfil the resolve of a capable nation. I hope that all these companies will become the basis of the strength of the country,” said the Prime Minister.

“I urge these seven 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 seven companies,” Modi said.

“Under the self-reliant India campaign, the country’s goal is to make India the world’s biggest military power on its own and development of modern military industry in India,” Modi said.

“In the last seven years, the country has worked to carry forward this resolve with the mantra of ‘Make in India’,” he added.

In his video address at the event, Modi said that as India enters 75 years of Independence, projects are being completed that were stuck for a long time.

“Today, there is more transparency, trust, and technology driven approach in the defence sector of the country than ever before. For the first time after Independence, so many major reforms are happening in our defence sector. Instead of stagnant policies, a single-window system has been put in place,” Modi said.

After Independence, there was need to upgrade ordnance factories, adopt new-age technologies, but it didn’t get much attention, he said.

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 per cent 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, it said in a statement.

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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