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In a boost to Atmanirbhar Bharat, the government on Friday gave orders worth Rs 65,000 crore to seven new government-owned defence companies carved out of Ordnance Factory Board (OFB) .
PM Modi said many major reforms were rolled out in India's defence sector and it has become more transparent than ever before.
There is more transparency, trust and technology-driven approach in India's defence sector now than ever before and major reforms are taking place for the first time since Independence while discarding stagnant policies, Prime Minister Narendra Modi said on Friday. In an address at an event to dedicate seven new defence companies to the nation, Modi, referring to the self-reliant India campaign, said the goal is to make the country the world's biggest military power on its own.
The decision to revamp 41 ordnance factories and the launch of seven new companies is a part of this journey of the country. This decision was pending for the last 15-20 years.