Ordnance Factory Board looks at 10-15% growth in 2017-18

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Ordnance Factory Board looks at 10-15% growth in 2017-18

Kolkata, April 11 (IANS) The Ordnance Factory Board which produced Rs 16,000 crore worth of defence equipment in 2016-17, is looking at a 10-15 per cent growth in the current financial year, an official said on Tuesday.

“Last year, we produced to the tune of Rs 16,000 crore of varieties of defence equipment. We are looking at 10-15 per cent growth this year,” said S.K. Chourasia, Additional Director General of Ordnance Factories and Member, Ordnance Factory Board.

He said the ordnance factories’ indigenisation stands at 85-90 per cent while the balance is imported.

Last year, the factories outsourced about Rs 6,000 crore of raw materials and various other components for defence equipment from Indian industries and of that, 25-30 per cent was from micro, small and medium enterprises, he said on the sidelines of Ramicom East organised jointly by CII and the Indian Army’s MSO Branch.

The board is also considering to outsource “non-core” items from Indian industries, he said.

The Indian Ordnance Factories organisation with 41 manufacturing plants under the aegis of its corporate headquarters in Kolkata, engages in production, testing, logistics, research, development and marketing of a comprehensive product range in the area of land, sea and air systems.

This is published unedited from the IANS feed.