RNS: Prime Minister Narendra Modi today dedicated the seven new Defence Companies to the nation virtually on Friday. The companies are, Munitions India Limited, Armoured Vehicles Nigam Limited, Advanced Weapons and Equipment India Limited, Troop Comforts Limited, Yantra India Limited, India Optel Limited, and Gliders India Limited.
Speaking on the occasion Modi said, 41 Ordinance factories are being converted into seven corporate entities, as a measure to improve India’s self-reliance and defence preparedness. “The government and public sector have joined hands for ‘Rashtra-Surakhsha’ that will boost India’s economy and encourage reaching new heights,” he added.
India’s defence sector was lacking innovation after independence. These seven new companies will push the government’s efforts towards progress and self-reliance in the defence sector, said PM adding, “An order book of more than 65 thousand crore rupees reflect the increasing confidence of the country in these companies.”
PM said, for the first time after independence, so many major reforms are happening in the defense sector. Under the Aatmanirbhar Bharat campaign, the country aims to make India the world’s largest military power on its own, and the development of modern military industry in India.
It is our target that Indian companies not only establish expertise in their products but also become a global brand, said PM urging that while competitive cost is our strength, quality and reliability should be the identity.
Modi urged the start-ups to become a part of this new journey through these companies to leverage the research and expertise of each other. He mentioned that the Government has given these new companies not only a better production environment but also complete functional autonomy. He reiterated that the Government has also ensured that the interests of the employees are fully protected.