Government looking at joint ventures in ordnance sector - News Summed Up

Government looking at joint ventures in ordnance sector


more-inThe Defence Ministry is conducting a detailed performance audit of ordnance factories functioning under the Department of Defence Production, Defence Minister Nirmala Sitharaman said on Thursday. Speaking at the Federation of Indian Chambers of Commerce and Industry (FICCI), the Minister said the government is examining the ordnance factories to explore ways to boost their productivity, including through possible joint ventures (JV) through possible Transfer of Technology . There are 41 factories under the Ordnance Factory Board (OFB) and there have been several demands to undertake reforms to improve their productivity and efficiency. In an effort to given greater role for the private sector, the Defence Research and Development Organisation has also asked to “identify patentable products that can be commercialised.”She said that the Centre is looking at organically grown industrial parks with inclination towards defence partnerships. To begin with, Chennai-Bengaluru and Mumbai-Pune-Aurangabad are being looked at as they have a large pool of start-ups that can help in defence manufacturing.


Source: The Hindu December 14, 2017 17:08 UTC


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