PM Narendra Modi dedicates 7 new Defence PSUs to the nation
- Prime Minister Narendra Modi dedicated seven new Defence PSUs, carved out of OFBs, to the nation, on October 15, 2021.
- These 7 new companies have been formed following the the dissolution of the 200-year-old Ordnance Factory Board (OFB) w.e.f October 01, 2021.
- Under the OFB there were 41 factories and 9 ancillary bodies. Now these factories will be distributed among the seven newly created companies.
- Also the 70,000 employees of these OFBs will be sent to the seven new entities, with no change in the service condition of the employees.
- The transformation of the OFBs from a Government Department into seven 100% Government-owned corporate entities, will improve self-reliance in the defence preparedness of the country, and enhance functional autonomy, efficiency as well as unleash new growth potential and innovation.
- The seven new defence PSUs includes:
- Munition India Ltd,
- Armoured Vehicles Nigam Ltd
- Advanced Weapons and Equipment India Ltd
- Troop Comforts Ltd
- Yantra India Ltd
- India Optel Ltd
- Gliders India Ltd
- The seven new companies will be producing parachutes, troop comfort items, weapons, vehicles, ammunition, opto-electronics gear and more for the use of the three services, State police as well as Central Armed Police Force (CAPF).
Source: PIB