Seven New Defence Companies, Carved Out Of OFB, Dedicated To The Nation
New Delhi, Oct 16 (TNA) Seven new defence companies, carved out of Ordnance Factory Board (OFB), were dedicated to the Nation at a function organised by Ministry of Defence on the occasion of ‘Vijayadashami’ in New Delhi on Friday. Prime Minister Narendra Modi delivered a video address during the event.
To enhance functional autonomy, efficiency and unleash new growth potential & innovation, Government had decided to convert OFB 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.
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) (Troop Comfort Items); Yantra India Limited (YIL); India Optel Limited (IOL) and Gliders India Limited (GIL). These companies have commenced business from October 01, 2021.