PM Narendra Modi has launched 7 new defence Firms on Friday
New Delhi,Oct 15: This is the first time since Independence, many major reforms were officially launched in India’s defence sector and it has more transparency and trustable than ever before, Prime Minister Narendra Modi said on his statement on Friday.
“Under the self-reliant India campaign, the country’s goal is to make India the world’s biggest military power on its own and development of modern military industry in India,” Modi said.
“In the last seven years, the country has workiny to progress in this sector with the mantra of ‘Make in India‘,” he added.
In his video conference at the event, Modi said that as India enters 75 years of Independence, projects are being completed that were stuck for a long time.
“Today, there is more transparency, trust, and technology driven approach in the defence sector of the country than ever before. For the first time after Independence, so many major reforms are happening in our defence sector. Instead of stagnant policies, a single-window system has been put in place,” Modi said.
After Independence, there was need to upgrade ordnance factories, adopt new-age technologies, but it didn’t get much attention, he said.
The prime minister said that 41 Ordinance factories are being converted into seven corporate entities, as a measure to improve our self-reliance and defence preparedness.
India is taking new resolutions to build a new future, he added.
Defence Minister Rajnath Singh and representatives from the defence industry associations were present during the event.
The government had decided to replace the over 200-year-old Ordnance Factory Board into seven fully entities to improve self-reliance in the country’s defence preparedness.
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).