Prime Minister Narendra Modi on Friday dedicated seven new state-run defence companies to the nation and urged them to prioritise 'research and innovation' in their work culture.
"You have to take lead in future technology, give opportunities to researchers. I would also urge startups to collaborate with these seven companies," said PM Modi at the event.
Defence Minister Rajnath Singh and representatives from the defence industry associations were also present.
Referring to the seven new companies, the Prime Minister’s Office (PMO) said the government has decided to convert Ordnance Factory Board from a department into seven fully government-owned corporate entities as a measure to improve self-reliance in the country's defence preparedness.
This move will bring about enhanced functional autonomy and efficiency and will unleash new growth potential and innovation, it said.
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), the PMO said.
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