7 new defense companies inaugurated by PM. Which are they?
Prime Minister Narendra Modi today launched seven new defense companies carved out of the Ordnance Factory Board (OFB) which was dissolved earlier this month. He said the move will help India become a greater military power. All the new government firms were registered in August 2021. Here are details about the new Defense Public Sector Undertakings (DPSUs).
Advanced Weapons and Equipment India (AWE) Limited: It is based in Kanpur, Uttar Pradesh. It is involved in the manufacturing of small arms and weapons for the Indian Armed forces and the police. The firm has already received defense orders worth Rs. 4,066 crore, reports say. Gliders India Limited (GIL): Also based in Kanpur, this firm produces textiles.
The Armoured Vehicles Nigam Limited (AVANI) is located in Chennai, Tamil Nadu. The firm has reportedly been given a contract to manufacture defense goods worth more than Rs. 30,000 crore, the biggest order among all the seven new companies. Its main products include battle tanks, infantry combat vehicles, military mobility solutions, engines, and other defense-related accessories.
Munitions India Limited (MIL): This company operates in Pune, Maharashtra and manufactures general purpose machinery. Troop Comforts Limited (TCL): Like AWE India and GIL, TCL's headquarters are also in Kanpur. It manufactures apparel for the Armed forces. The firm, however, does not deal in clothing made of fur. It is registered at the Registrar of Companies, Kanpur.
India Optel Limited (IOL): This company is based out of Dehradun in Uttarakhand. It has been tasked with the manufacturing of electrical machinery and apparatus. Yantra India Limited (YIL): YIL has inherited OFB's assets worth Rs. 11,000 crore. It is based in Nagpur, and manufactures components such as shells of ammunition, according to a report by Hindustan Times.
"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," PM Modi said today while launching these companies.