New Delhi, Oct 15 (UNI) Prime Minister Narendra Modi on Friday dedicated seven new defence companies to the nation, and said new government policies have led to an increase in defence exports by over 325 per cent during the past five years.
"Today, as India enters 75 years of independence, we are completing projects that were stuck for a long time. 41 Ordnance factories are being converted into seven corporate entities, as a measure to improve our self-reliance and defence preparedness," the Prime Minister said.
He said post independence, proper attention was not given to the ordnance factories, which led to India becoming dependent on imports.