Miniratna Status Granted to Three Defence PSUs
Raksha Mantri Shri Rajnath Singh has approved the Miniratna status for Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL), and India Optel Limited (IOL). This recognition comes after significant growth in sales and indigenization efforts by these companies, transforming them into profit-making entities within three years. MIL reported a 200% sales increase, AVNL achieved 190% growth, and IOL saw a 250% rise in sales. The Miniratna status will empower these firms to enhance their production and export capabilities in the defence sector.
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