On the auspicious occasion of Vijayadashami, Prime Minister Narendra Modi dedicated the seven new defence companies to the nation and addressed the nation at an event organized by the Ministry of Defence. Defence Minister Rajnath Singh, as well as representatives from the defense industry associations, attended the event.
The Prime Minister’s Office announced that the Government has decided to convert the Ordnance Factory Board from a government department into seven 100 percent government-owned entities, as a measure to strengthen the country’s defense capabilities. A statement from the company said the move would enhance the functional autonomy and efficiency of the system, as well as unleash new growth potential and innovation.
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The seven newly-launched Defence companies that have been established 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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