Economy

Ordnance factory boards must adopt modern management practices, says Rajnath Singh

Our Bureau New Delhi | Updated on August 13, 2020 Published on August 13, 2020

Defence Minister Rajnath Singh Kamal Narang   -  Kamal Narang

Ordnance factory boards (OFBs) need to do away with outdated practises if they need to compete internationally, said Defence Minister Rajnath Singh.

Commenting on the corporatisation of OFB, Singh said, “If government owned defence industries are to compete at the national and international level then the outdated practices will have to be done away with.”

“We need to have modern management techniques, technology infusion and collaborative efforts to help aid the state defence industries serve the country efficiently. With this purpose the government has initiated steps towards corporatisation of OFB. I am sure this step will not only help do away with the constraints of controlled pricing, but will also infuse corporate management practices and efficient systems. I understand that it will be a challenge for OFB to reinvent itself but I hope they will succeed in it,” he added.

Singh was speaking at the launch of products by defence Public Sector Undertaking companies and OFBs.

This was part Atmanirbhar Bharat week celebrations which continue till Friday.

“Among the products launched on Thursday included the prototype of Nag Missile Carrier (NAMICA) developed by Ordnance Factory Medak in association with DRDL, Hyderabad. NAMICA has the potential for import substitution to the tune of ₹260 crore in the first phase, which may go upto more than ₹3,000 crore,” an official statement said.

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Published on August 13, 2020
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