• Seven new defence companies, carved out of Ordnance Factory Board (OFB), were dedicated to the Nation at a function organised by Ministry of Defence on the occasion of ‘Vijayadashami’ in New Delhi on October 15, 2021.
• To enhance functional autonomy, efficiency and unleash new growth potential & innovation, Government had decided to convert OFB 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.
• These companies have commenced business from October 01, 2021.
The seven new Defence companies are:
1. Munitions India Limited (MIL);
2. Armoured Vehicles Nigam Limited (AVANI);
3. Advanced Weapons and Equipment India Limited (AWE India);
4. Troop Comforts Limited (TCL) (Troop Comfort Items);
5. Yantra India Limited (YIL);
6. India Optel Limited (IOL) and
7. Gliders India Limited (GIL).
Mains Paper 3: Defence and Security
Prelims level: Ordnance Factory Board
Mains level: Read the newsfeed