In a long-awaited and major reform in defence manufacturing, the Cabinet on Wednesday decided to convert the Ordnance Factory Board, currently a subordinate office of the Ministry of Defence, into seven government-owned corporate entities with professional management, sources said.
The decision was taken in a Cabinet meeting which was held today.
"In the Cabinet meeting held on June 16, 2021, a major decision has been taken to bring in a long-awaited and major reform in defence manufacturing by converting Ordnance Factory Board, currently a subordinate office of the Ministry of Defence into seven government-owned corporate entities with professional management," official sources informed.
( With inputs from ANI )
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