Kashmir Indepth
Nation

Aim to bring India among top countries in Defence sector, says Rajnath Singh

New Delhi, Oct 15 ( KINS): Defence Minister Rajnath Singh on Friday said that the aim of the government is to bring India among the top countries of the world in the field of the Defence sector.
While addressing the launch event of seven new Defence companies he said, “Our aim is to bring India among the top countries of the world in the field of the Defence sector, from design to production, and export, with the active participation of public and private sector.”
Singh said that taking forward our resolve of ‘Aatmanirbhar Bharat’, the Government of India has taken the historic decision to convert the Ordnance Factory Board (OFB), a subordinate office of the Ministry of Defence into seven new 100 per cent government-owned corporate entities with professional management.
“Today, seven new Defence Public Sector Undertakings (DPSU)—MIL, AVANI, AWE, TCL, YIL, IOL, GIL– are being dedicated to the nation in the course of the reformative change. There could hardly have been a better opportunity for such reforms to achieve its new objectives,” said the Defence Minister.
He further said that the Defense Ministry has set a target of achieving a turnover of Rs 1,75,000 crore by 2024.
“Today, the Defence sector is moving fast on the path of ‘self-reliance’ and ‘make for the world’. The Defense Ministry has set a target of achieving a turnover of Rs 1,75,000 crore by 2024 in aerospace and defence goods and services, including exports of Rs 35,000 crore,” said Singh.
As part of the corporatisation of the Ordnance Factories, the Central government is launching seven new companies.
The government is converting Ordnance Factory Board (OFB) into corporate entities.
These seven new defence companies will have 66 firm contracts worth Rs 65,000 crore from the three services and paramilitary forces.
The new companies are – Advanced Weapons and Equipment India Limited, Troop Comforts Ltd, Avani Armoured Vehicles, Munitions India Limited, India Optel Limited, Gliders India Limited, Yantra India Limited. (KINS)

Related posts

17 people including child killed in Delhi hotel fire

Kashmir Indepth

“Kill as many people as you can”. Use of force to quell rebellion in Kashmir is the state policy of India. Former BJP minister Yashwant Sinha

Kashmir Indepth

Republic Day parade: JK bags 2nd best tableau prize

Kashmir Indepth

Woman gang-raped by 12 men in Ludhiana farmhouse

Kashmir Indepth

PSAJK expresses concern on New Education Policy 2016

Kashmir Indepth

Centre releases balance amount of Rs 44,000 cr to states, UTs under back-to-back loan facility in-lieu of GST compensation

Ankit Sharma

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy