Rajnath Singh affirms private-public sector association for India's defence preparedness

Defence Minister Rajnath Singh on Friday affirmed that the private sector is operating closely with the public sector in purview of the defence preparedness of the nation. "After Liberalisation, market reforms, the private sector is working closely with the public sector for the defence preparedness of the country. Today, defence manufacturing is seen as coordination of the private and public sectors," the Union Minister said while addressing the launch of seven new defence firms. 

The Defence Minister said, "The functioning of the Ordnance Factory Board (OFB) was studied by various high-level committees over the past two decades. Its objective was to promote self-reliance to improve the functioning, and defence preparedness of the Armed Forces by these factories."

'India set to emerge as world's defence manufacturing hub': Rajnath Singh

Emphasising the recent escalation in the export of defence goods, Rajnath Singh said that the sector has not only shifted towards self-reliance but has advanced beyond heights that were never possible till now.
"Today our country with its full capability and potential is all set to emerge as the defence manufacturing hub of the world," Singh said.

Rajnath Singh lauds Modi-led government for reforms in Defence sector 

The Defence Minister highlighting the Narendra Modi-led Central government's role in inducing several reforms in the defence sector and also encouraging FDI, said, "Since 2014, the government has brought several reforms in the defence sector to create a conducive ecosystem for experts and for Foreign Direct Investment (FDI) to encourage demand for indigenous products."
"Restructuring of the OFB and converting it into seven corporate entities will give autonomy to these companies as well as help in improving accountability and efficiency in the functioning of 41 factories under the new companies," Singh added.

Rajnath Singh urges Indian defence industry to boost production

Earlier in September, Defence Minister Rajnath Singh had laid focus on the manufacturing of defence-related utilities and said that rapid changes in the global security scenario were expected to boost the demand for military equipment and the Indian industry must focus on boosting production.

Singh asserted that the Indian Defence industry should take advantage of the policy reforms launched by the government during the last few years to boost domestic defence manufacturing. He had urged private sector enterprises to invest in Research and Development with special attention on cyberspace.

The Government has decided to convert Ordnance Factory Board from a Government Department into seven 100 per cent government-owned corporate entities in order to improve efficiency in the defence sector. 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).

With ANI inputs

Image: PTI