OFB Corporation News: On October 15, 2021, the Government of India dissolved more than three centuries old British era Ordnance Factory Board (OFB) and converted 41 OFB factories into seven fully government owned defence companies.
Out of the seven companies, three companies – Advanced Weapons and Equipment India Limited (AWE India), Troop Comforts Limited (TCL) and Gliders India Limited (GIL) are headquartered in Kanpur, Uttar Pradesh in North India.
While heavy fighting vehicles manufacturer Armoured Vehicles Nigam Limited (AVANI) has its headquarters in Chennai in South Indian state of Tamil Nadu, two defence companies – Munitions India Limited (MIL) in Pune and Yantra India Limited (YIL) in Nagpur are headquartered in western Indian state of Maharashtra.
India Optel Limited (IOL) which will manufacture advanced opto-electronics and opto-electrical devices for Indian military is located in Dehradun, the capital of the hill state of Uttarakhand in Northern India.
These newly created seven defence companies have an cumulative order book of nearly $10 billion (Rs 65,000 crores).