Defence Ministry has approved Miniratna Category-I status for Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL), and India Optel Limited (IOL). Defence Minister Rajnath Singh congratulated all three Defence Public Sector Undertakings on their transformation from government organisations into profit-making corporate entities within a short span of three years. He also expressed satisfaction with the initiatives taken by the management of MIL, AVNL, and IOL to increase company turnover, maximise indigenisation, and meet other performance parameters required for the grant of Miniratna status.
The Ministry of Defence, in a statement, said that the approval of Miniratna status for MIL, AVNL, and IOL will further empower these companies to achieve an accelerated growth trajectory and reach new heights in defence production and exports.
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