Ordnance Factory Board (OFB) has drawn up plans to make India self-sufficient in production of arms and ammunition with the twin objectives of reducing imports and meeting nation’s requirements.
The total procurement for three services (Army, Navy and Air Force) for year 2014-15 was Rs. 78753.85 Crores, out of which the procurement from indigenous sources was Rs. 49531.55 Crores. The value of production of Defence Public Sector Undertakings (DPSUs) and Ordnance Factories in the same year was Rs. 46936 Crores. Since the opening of […]
The Ministry of Defence will soon come out with a new set of guidelines and norms that will work as Standard-Operating-Procedures (SOP’s) for foreign companies seeking higher ownership beyond the existing 49% foreign direct investment (FDI) that is currently allowed in defence production.