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New defence PSUs will help India  become  self-reliant:  PM

Prime Minister Narendra Modi on Friday dedicated the seven defence public sector undertakings (PSUs), created through the restructuring of the Ordnance Factory Board (OFB), to the nation, at a function organized by the ministry of defence. He said the firms will help develop India into a military industrial power, which is self-reliant in developing and manufacturing strategic weapons and platforms.

Modi said the 41 ordnance factories, once known for quality products, had lost the competitive edge due to a lack of modernization. The new units will help India, one of the world’s biggest arms importers, to reduce its dependence on foreign companies. “India’s goal under ‘Atmanirbhar Bharat’ (self-reliant India) is to make the country, on its own, into a big military power,” he added.

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