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The government has decided to convert the Ordnance Factory Board (OFB) from a department, into seven fully government-owned corporate entities to improve self-reliance on the country's defence preparedness
India’s defence exports increased by 325 per cent in the last five years, Prime Minister Narendra Modi said on Friday
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New defence firms will create opportunities for youth, MSMEs: PM Modi - The country has already placed orders worth Rs 65,000 crore for these new companies, said Modi.
PM Modi today said that 41 Ordnance factories are being converted into 7 government-run corporate entities, as a measure to improve our self-reliance and defence preparedness. He said the "goal is to make India the world's biggest military power".