New Delhi: On the occasion of Vijayadashmi on Friday, Prime Minister Narendra Modi will deliver a video address at an event organised by the Defence Ministry to dedicate seven new defence companies to the nation.
Defence Minister Rajnath Singh, Minister of State for Defence Ajay Bhatt and representatives from the Defence industry associations will be present on the occasion.
The Government has decided to convert Ordnance Factory Board from a government department into seven 100 percent 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, a PMO release said.
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).