Page 11 - NIS English 2021 November 16-31

STEPS TAKEN FOR BOOSTING DEFENCE SECTOR

Under the self-reliant India campaign, the country's
goal is to make India the world's largest military
power on its own and develop a modern military
industry. In the last seven years, the country has
taken forward its resolve with the mantra of 'Make
in India' and has made major reforms in the Defence
sector with transparency and has given preference
to a single-window system. As a result of various
policy reforms, India's Defence exports have grown by
more than 325 per cent in the last five years. In such a
situation, the initiative to reinvigorate Ordnance Factories
by adapting to the changing times was taken by the Union
Cabinet on 16 June 2021 with a historic decision, under
which the Ordnance Factory Board was abolished and 7
new Defence Enterprises were approved to be created. It has
been ensured that in the process of conversion of Ordnance
Factories into Corporate, the interests of its stakeholders
and employees are fully protected. An Empowered Group
of Ministers headed by Defence Minister Rajnath Singh will
keep a close watch on the entire process of this work. These
seven companies will enable India to cut down its dependence
on defence imports and give a boost to manufacturing various
Defence materials apart from exploring new opportunities and
will also contribute to increase exports. To achieve this ambitious
goal, the government has transferred the Ordnance Factory Board's
contracts worth Rs 65,000 crore to these companies. Earlier, the
Defence Ministry had released a list of more than 100 such tactical
equipment which will no longer be imported from outside.

Revenue target from the A GLANCE AT THE SEVEN COMPANIES MADE THE

export of Defence production STATE-OWNED CORPORATE COMPANY
As a measure to increase self-reliance in the
11000 28000 Defence preparedness of the country, the
Estimated
Government has decided to convert the Ordnance
Factory Board from a Government Department to
Crore revenue in 2020-21 Crores revenue by 2024-25 a seven percent state-owned corporate company.
This move will ensure better functional autonomy
GROUP OF MINISTERS WILL KEEP AN EYE and efficiency and will pave the way for new growth
possibilities and innovations.
An Empowered Group of Ministers headed by Defence The seven new Defence companies that have
Minister Rajnath Singh will keep a close watch on the entire been listed include Munitions India Limited (MIL);
process of this work. Armored Vehicles Corporation Limited (Avni);
Amit Shah, Union Home Minister Nirmala Sitharaman, Union Advanced Weapons and Equipment India Limited
Finance Minister Kiren Rijiju, Union Minister of Law and (AWE India); Troop Comforts Limited (TCL); Yantra
Justice Bhupendra Yadav, Union Minister of Environment, India Limited (YIL); India Optel Limited (IOL) and
Forest and Climate Change and Labor Employment Gliders India Limited (GIL).
Jitendra Singh, Minister of State in PMO

The 41 factories under 7 Defence undertakings
located in different parts of the country have been
extensively revamped and envisaged to prepare them
for new challenges by making them more productive
and competitive.

New India Samachar November 16-30, 2021 9