THESE 3 Defence PSUs To Get Miniratna Status; Rajnath Singh Gives Approval

New Delhi: Defence Minister Rajnath Singh has licensed the grant of ‘Miniratna’ standing Category-I for the Munitions India Limited (MIL), the Armoured Vehicles Nigam Limited (AVNL), and India Optel Limited (IOL), an legit commentary stated on Thursday. 

Congratulating the 3 defence public sector undertakings for his or her transformation from a central authority organisation to a profit-making company entity in a brief span of 3 years, the minister expressed pleasure over the projects taken via the control of the MIL, the AVNL, and the IOL to extend the turnover of the corporations, maximise indigenisation, and meet different efficiency parameters for the grant of Miniratna standing.

Munitions India Limited has accomplished important milestones after its inception, together with stellar enlargement of over 200 consistent with cent in gross sales from Rs 3,314 crore in 2021-22 to Rs 8,214 crore in FY 2024-25. On the export entrance, it has accomplished a enlargement from Rs 22.55 crore in FY 2021-22 to Rs 3,081 crore in FY 2024-25. The main merchandise of MIL come with small, medium and prime calibre ammunition, mortars, rockets, hand grenades, and so on., with in-house production of initiatory compositions, propellants, and prime explosives.

Armoured Vehicles Nigam Limited has witnessed an important enlargement of about 190 consistent with cent in gross sales from Rs 2,569.26 crore in 2021-22 to Rs 4,946 crore in FY 2024-25. AVNL has additionally accomplished 100 consistent with cent indigenisation of engines for all its 3 platforms– the T-72 and T-90 tanks and BMP-II. The main merchandise of AVNL come with tanks and infantry fight cars, fortify cars (MPV, AERV, and so on.) and defence mobility answers (Stallion, LPTA, and so on)

India Optel Limited, during the last 3 years, has driven its gross sales from Rs 562.12 crore in 2021-22 to Rs 1,541.38 crore in FY 2024-25, a enlargement of over 250 consistent with cent. The major merchandise of IOL come with opto-electronic methods and imaginative and prescient apparatus, which might be utilized in land device platforms & guns like T-90 and T-72 tanks, infantry fight automobile BMP-II, artillery/naval weapons, and so on.

The conferring of Miniratna standing to the MIL, the AVNL, and the IOL will additional empower those firms to reach an speeded up enlargement trajectory and new heights in defence manufacturing and exports, the legit commentary stated.

To improve useful autonomy, potency and unharness new enlargement attainable and innovation, the erstwhile Ordnance Factory Board (OFB) used to be transformed into seven defence public sector undertakings (DPSUs), together with those 3 firms, with impact from October 1, 2021. While the MIL and the AVNL are Schedule ‘A’ new (DPSUs), the IOL is a Schedule ‘B’ DPSU underneath the executive keep watch over of the Department of Defence Production.