Public Private Partnership is working in mission mode on national security
An order book of more than Rs.65,000 crore from the defence ministry shows that the seven new defence companies will play a major role in indigenous supplies and support the vision of Atmanirbhar Nirbhar Bharat, Prime Minister Narendra Modi said on 15 Oct 2021.
Noting the glorious past of Indian ordnance factories, the Prime Minister said at a dedication ceremony of the upgraded companies, “These 7 defence companies will play a major role in changing this situation” and play an important role in import substitution.
He recalled the various initiatives and reforms undertaken in the recent past that have created Trust, Transparency and Technology driven approach in the defence sector like never before.
“Today private and public sector are working hand in hand in the mission of national security,” he underlined.
Modi cited Uttar Pradesh and Tamil Nadu Defence Corridors as examples of the new approach, pointing out, “Our defence export has increased by 325% in last five years. It is our target that our companies not only establish expertise in their products but also become a global brand.”
“While competitive cost is our strength, quality and reliability should be our identity.”
He told the companies to make research and innovation a part of their work culture, so that they just don’t catch up but take lead in future technologies.
This restructuring would provide more autonomy to the new companies to nurture innovation and expertise and the new companies should encourage such talent, he added, also calling on India’s start-ups to become a part of this new journey through these companies to leverage the research and expertise of each other.
The Government has given these new companies not only a better production environment but also complete functional autonomy, said the Prime Minister.
To enhance functional autonomy, efficiency and unleash new growth potential and innovation, the Government has decided to convert Ordnance Factory Board from a Government Department into seven 100% Government owned corporate entities as a measure to improve self-reliance in the defence preparedness of the country.
Accordingly, seven new defence companies were incorporated, namely Munitions India Limited (MIL); Armoured Vehicles Nigam Limited (AVANI); Advanced Weapons and Equipment India Limited (AWE India); Troop Comforts Limited (TCL) (Troop Comfort Items); Yantra India Limited (YIL); India Optel Limited (IOL); and Gliders India Limited (GIL). #manufacturing #investment #technology #exports /fiinews.com
