Minister of Defense gave three defense 'miniratna' status

New -Delhi, May 29 (IANS). Defense Minister Rajnath Singh has approved Munisans India Limited (MIL), Armard Vehicles Corporation Limited (AVNL) and India Optail Limited (IOL) to give ‘miniratna category-i’ status. The Minister of Defense congratulated these three defense companies (Defense PSUs) for changing quickly to the government organization -generous corporate unit. He appreciated the steps taken by their management to increase the turnover of the business, to maximize the indigenous people and meet other performance standards. If you get the status of miniratna to these three defenses psus, they will help empower more autonomy, innovation and development. Munisans India Limited (MIL) has achieved remarkable achievements since the company. The sales of the company increased from R 2,571.6 crore in the year 2021-22 to Rs 8,282 crore in FY 2024-25 (for the time being). Mil has also made great progress in the field of export. Important MIL products include small, medium and high caliber ammunition, mortar, rocket, hand grenade, etc., which are manufactured in the homes. Armard Vehicles Corporation Limited (AVNL) also recorded a significant increase. Sales increased from Rs 2,569.26 Crore (2021-22) to Rs 4.986 crore (2024-25) (for the time being) by about 190 percent. AVNL achieved 100 percent indigenous engine manufacturing for T-72, T-90 and BMP-II platforms. The most important products include tanks (T-90, Arjun, BMP-II Sarath), support vehicles and defense mobility solutions. India Optail Limited (IOL) has also made tremendous progress over the past three years. The sales of the company increased from Rs 562.12 Crore (2021-22) to Rs 1,541,38 crore (2024-25) (for the time being), which is an increase of more than 250 percent. The main products of IOL include optoelectronic systems and vision equipment, which are used in fighter jets and cannons, naval weapons, etc. Like T-90, T-72, BMP-II. Remarkable is that the previous Ordnance Factory Board from 1 October 2021 was converted into seven public enterprises for more efficiency and functional autonomy. Mil and AVNL were placed under the production of the Department of Defense as “a PSU”, while IOL “was Appendix B” Defense PSU. -Ians gcb/psk/ecd