Ordnance Factory Board to be converted into 7 govt-owned corporate entities: Sources

New Delhi [India], June 16 (ANI): 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. (ANI)