Prime Minister Narendra Modi will dedicate seven new defence companies carved out of the Ordnance Factory Board to the nation on Friday.
The government decided to transform the Ordnance Factory Board from a government department to seven 100 percent government-owned corporate entities as a measure to enhance self-reliance in defence readiness of the nation.
This decision is aimed to bring improved functional autonomy, efficiency and to unleash new growth potential and innovation.
The seven new defence companies 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).
