PM Modi on Thursday launched seven new companies that are going to enter the defence sector and hoped all these companies would become the basis of the strength of the country. The seven state-run defence companies were created after dissolving the over 200-year-old Ordnance Factory Board. The assets of the OFB including its 41 ordnance factories were transferred to the seven new firms.​​

Source: 'New tech to change defence sector': PM at launch of 7 new cos