Prime Minister Narendra Modi will dedicate the seven new defence companies to the nation on the auspicious occasion of Vijaya Dashami today.
He will deliver a video address at an event organised by the Defence Ministry. Defence Minister Rajnath Singh and representatives from the Defence industry associations will be present on the occasion.
Taking to Twitter, PM Modi on Thursday said: "On the special occasion of Vijaya Dashami tomorrow, 15th October, seven new defence companies would be dedicated to the nation. This is a part of our efforts to modernise the defence sector and create an Aatmanirbhar Bharat."
Here's all you need to know about 7 New Defence companies:
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).
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