Prime Minister Narendra Modi will deliver a video address in an event organized by the Defence Ministry to dedicate the seven new Defence Companies to the Nation at 12.10 PM today. Defence Minister Rajnath Singh and representatives from the Defence industry associations will be present on the occasion. AIR correspondent reports that 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.
The seven new Defence companies that have been incorporated are, Munitions India Limited, Armoured Vehicles Nigam Limited AVANI, Advanced Weapons and Equipment India Limited, Troop Comforts Limited, Yantra India Limited, India Optel Limited, and Gliders India Limited.
Armoured Vehicles Nigam Ltd in Tamil Nadu, is one the seven new defence companies, that will be dedicated to the nation today.
All the five units of the company and its corporate headquarter at Avadi in Tamil Nadu will join virtually the launch ceremony along with other factories located across the country. AIR correspondent reports,the Armoured Vehicles Nigam limited at Avadi has commenced its operations with effect from the first of this month.
Having a world-class infrastructure and state of the art technology and around 12 thousand personnel, the main products of the company are battle tanks, ICVs, Military Mobility solutions, engines and other accessories. It has an order book position in excess of Rs. 31 thousand crores. The products are all time tested and have served as the source of strength for the Armed Forces, Paramilitary Forces and Homeland Security agencies.