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- PM Modi will inaugurate 7 defense firms made of OFB today, the share of domestic market will increase
16 minutes ago
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After the corporatization of Ordnance Factory Board (OFB), which manufactures ammunition to tanks and cannons for the country, Prime Minister Narendra Modi will launch 7 different companies today. These companies have received orders worth Rs 65,000 crore from the three services and paramilitary forces.
OFB has a total of 41 factories and 70 thousand employees, which will now be associated with seven companies i.e. Defense-PSU (Public Sector Unit) instead of one board.
Production of OFB will increase
According to the Defense Ministry, corporatization will bring about a change in the working style of OFB. With this, companies will get the freedom to work according to their own, as well as efficiency and accountability in working will also be fixed. This step will increase the production of OFB and create profitable companies. Apart from this, the competition in the market will also increase.
Today’s major events, which will be seen
- Prime Minister Narendra Modi will lay the foundation stone of Boys Hostel in Surat through video conferencing.
- Tourist visa will be given to foreign tourists coming to India by chartered flights from today.
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