PSU Watch logo

| Domestic flights to operate at full capacity from Oct 18 |   | Finance Minister to seek Cabinet nod for setting up company to monetise land asset of privatisation-bound CPSEs |   | Sitharaman's marathon meeting sessions with US businesses continues in New Yark |   | India will launch industry-led policies in space sector: ISRO Chief |   | No hike in fuel prices on Monday, relief for consumers facing historic high rates |  

PM Modi to launch seven new Defence PSUs on October 15

PM Modi will deliver a video address in the event being organised to dedicate seven new Defence PSUs, made after dissolving OFB, to the nation on the day of Vijayadashmi, October 15
PM Narendra Modi to launch seven new Defence PSUs on October 15, Vijayadashmi (File Photo)
PM Narendra Modi to launch seven new Defence PSUs on October 15, Vijayadashmi (File Photo)

New Delhi: Prime Minister Narendra Modi will deliver a video address at an event organised by the Defence Ministry to dedicate seven new defence companies (Seven new Defence PSUs) to the nation on the auspicious occasion of Vijayadashami on Friday, the PMO said on Thursday. Defence Minister Rajnath Singh and representatives from the defence industry associations will be present on the occasion.

Referring to the seven new defence companies, the Prime Minister’s Office (PMO) said the government has decided to convert Ordnance Factory Board from a department into seven fully government-owned corporate entities as a measure to improve self-reliance in the country's defence preparedness.

ALSO READ

This move will bring about enhanced functional autonomy and efficiency and will unleash new growth potential and innovation, it said.

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), the PMO said.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)