Ordnance Factory Board looks at 10-15% growth in 2017-18

Kolkata April 11 (IANS) 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 Directgor General of Ordnance Factories and Memeber 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 on-core items from Indian industries he said. --IANS bdc/ruwa/vt