Ordnance Factory Board looks at 10-15% growth in 2017-18
Kolkata: The Ordnance Factory Board which produced worth Rs 16,000 crore 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 India.
He said the board’s indigenisation stands at 85-90 per cent while the balance is imported.
Last year, the board outsourced about Rs 6,000 crore of raw materials and many other components for defence equipment from Indian industries and of that, 25-30 percent 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.