National

New defence companies will not only achieve expertise but also become a global brand, says PM Modi

ANI | October 15, 2021 01:48 PM
Prime Minister Narendra Modi (File photo)

New Delhi [India], October 15 (ANI) Prime Minister Narendra Modi on Friday said that the seven new defence companies, launched today, would not only achieve expertise in the field of manufacturing equipment but also become a global brand.

The companies would manufacture equipment including ammunition, explosives, army vehicles, advance weapon, troop comfort items, optical electronics, and parachutes.

"One company would produce ammunition and explosives. Another company will manufacture army vehicles, advance weapons, troop comfort items, optical electronics or parachutes," said the Prime Minister at the launch of seven defence companies at an event organized by the Defence Ministry on the DRDO Campus here.

"Our objective is that every company not only achieve expertise in this field and become a global brand. Competitive cost is our strength. Quality and reliability should be our identity," said Modi.

The decision to revamp 41 ordinance factories and the launch of seven new companies is a part of this journey of the country.

This decision was pending for the last 15-20 years.

"I am confident that all these seven companies will become a major base of India's military power in the coming times," said PM Modi.

According to a release by the Prime Minister's Office, the Government has decided to convert Ordnance Factory Board 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.

This move will bring about enhanced functional autonomy, efficiency and will unleash new growth potential and innovation, it said in a statement.

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). (ANI)

Have something to say? Post your comment
Must Read
Capt Amarinder is proof of Congress’ and BJP’s double-standard: Jarnail Singh
Capt Amarinder is proof of Congress’ and BJP’s double-standard: Jarnail Singh
Punjab: 36 IPS and 14 PPS officers transferred, Find the complete list here
Punjab: 36 IPS and 14 PPS officers transferred, Find the complete list here
Karnataka bill seeks to ban online gambling ‘vice’, even skill games will not be spared
Karnataka bill seeks to ban online gambling ‘vice’, even skill games will not be spared
CAPT AMARINDER SLAMS CONG LEADERS OVER PREPOSTEROUS LIES TO COVER UP MISHANDLING OF PARTY CRISIS IN PUNJAB
CAPT AMARINDER SLAMS CONG LEADERS OVER PREPOSTEROUS LIES TO COVER UP MISHANDLING OF PARTY CRISIS IN PUNJAB
Punjab Cong row: There's resentment in MLAs against CM, says Pargat Singh
Punjab Cong row: There's resentment in MLAs against CM, says Pargat Singh
Five IAS officers transferred in Punjab (See list attached)
Five IAS officers transferred in Punjab (See list attached)
Immediately stop police deployment from BJP ruled states to WB: TMC to Chief Electoral Officer
Punjab: 24 DSP officers Transferred
Two IAS officers transferred in Punjab (See list attached)
Black Lives Matter: If we kill men...with whom will we live???
India 2020: The story of marching millions
Four PCS officers transferred in Punjab