New Delhi: Defence Minister Rajnath Singh on Friday (October 15) said that the government now wants to bring India among the top countries in the field of the defence sector.
Speaking at the launch event of seven new Defence companies Rajnath Singh said, "Our aim is to bring India among the top countries of the world in the field of the defence sector, from design to production, and export, with the active participation of public and private sector."
Taking forward the resolution of 'Aatmanirbhar Bharat', the government has decided to convert the Ordnance Factory Board (OFB), a subordinate office of the Ministry of Defence into seven new 100 percent government-owned corporate entities with professional management, Rajnath Singh said.
He went on to say, "Today, the Defence sector is moving fast on the path of 'self-reliance' and 'make for the world'. The Defense Ministry has set a target of achieving a turnover of Rs 1,75,000 crore by 2024 in aerospace and defence goods and services, including exports of Rs 35,000 crore," said Singh. He further said that the Defense Ministry has set a target of achieving a turnover of Rs 1,75,000 crore by 2024. As part of the corporatisation of the Ordnance Factories, the Central government is launching seven new companies.