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38-644: British India Corporation Limited (BIC) is a central public sector undertaking under the ownership of the Ministry of Textiles , Government of India . The CPSU produces textiles for use by civilians and the Indian armed forces . It manufactures the popular "Lal-imli" and "Dhariwal" brands of woollen products. The CPSU was established in 1872 or 1876 by Sir Alexander MacRobert as a CPSU when he combined his six companies into one enterprise. MacRobert died on 22 June 1922 and his widow, Rachel, Lady MacRobert , assumed

76-442: A GATE score. In 1951, there were five PSUs under the ownership of the government. By March 2021, the number of such government entities had increased to 365. These government entities represented a total investment of about ₹ 16,410,000,000,000 as of 31 March 2019. Their total paid-up capital as of 31 March 2019 stood at about ₹200.76 lakh crore. CPSEs have earned a revenue of about ₹24,430,000,000,000 + ₹1,000,000,000,000 during

114-508: A Miniratna and have 4 independent directors on its board before it can be made a Navratna. PSUs in India are also categorized based on their special non-financial objectives and are registered under Section 8 of Companies Act , 2013 (erstwhile Section 25 of Companies Act, 1956). Public Sector Undertakings (PSUs) can be classified as Central Public Sector Undertakings (CPSUs) or State Public Sector Undertakings (SPSUs). CPSUs are administered by

152-471: A product range in the areas of air, land and sea systems. OFB consisted of forty-one ordnance factories, nine training institutes, three regional marketing centres and four regional controllerates of safety, which are spread all across the country. Every year, 18 March is celebrated as the Ordnance Factory Day in India. The Indian Ordnance Factories predate all the other organisations like

190-429: A self-sufficient, largely agrarian, communal village-based existence for India in the first half of the 20th century. Other contemporary criticisms of India's public sector targeted the lack of well-funded schools, public libraries, universities, hospitals and medical and engineering colleges; a lack seen as impeding an Indian replication of Britain's own industrialization in the previous century. Post-Independence,

228-461: Is a stub . You can help Misplaced Pages by expanding it . Public Sector Undertaking Public Sector Undertakings ( PSU ) in India are government-owned entities in which at least 51% of stake is under the ownership of the Government of India or state governments .These type of firms can also be a joint venture of multiple PSUs. These entities perform commercial functions on behalf of

266-524: Is an authority under the Department of Defence Production (DDP) of Ministry of Defence (MoD), Government of India . Its primary work is to management, give instructions and make coordination of government Ordance production public companies. It is the main regulatory body of Indian Ordnance and its administration civil service , Indian Ordnance Factories Service (IOFS). The DOO(C&S) earlier known as Ordnance Factory Board ( OFB ), consisting of

304-683: Is denoted in %, as of 30 September 2024 ): Currently there are 43 Regional Rural Banks in India, as of 1 April 2020: Andhra Pradesh Arunachal Pradesh Assam Bihar Chhattisgarh Gujarat Haryana Himachal Pradesh Jammu and Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Odisha Puducherry Punjab Rajasthan Tamil Nadu Telangana Tripura Uttar Pradesh Uttarakhand West Bengal Indian Ordnance Factories The Directorate of Ordnance ( Coordination & Services ) (abbreviated: DOO(C&S) )

342-453: Is very diverse, including various small arms to missiles , rockets , bombs , grenades , military vehicles , armoured vehicles , chemicals , optical devices , parachutes , mortars , artillery pieces plus all associated ammunition , propellants , explosives and fuses . Civilians are required to hold an Arms License (issued only for non-prohibited bore category weapons) in order to buy firearms in India. The following products of

380-551: The Acland Mill ), railways , electricity utilities, banks, coal mines, and steel mills being just some of the economic entities largely owned by private individuals like the industrialist Jamsetji Tata . Other entities were listed on the Bombay Stock Exchange . Critics of private ownership of India's agricultural and industrial entities—most notably Mahatma Gandhi's independence movement—instead advocated for

418-713: The Indian Army and the Indian Railways by over a century. The first Indian ordnance factory can trace its origins back to the year 1712 when the Dutch Ostend Company established a Gun Powder Factory in Ichhapur. In 1787, another gunpowder factory was established at Ichapore ; it began production in 1791, and the site was later used as a rifle factory, beginning in 1904. In 1801, Gun Carriage Agency (now known as Gun & Shell Factory, Cossipore)

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456-655: The Indian Ordnance Factories . In 2021, Government having corporatise the functions of the 41 Indian Ordnance Factories into 7 Defence Public Sector Undertakings (DPSUs) , the Government is merging them again in 2024, as the output of one factory serves as the input of the other. OFB was the 37th-largest defence equipment manufacturer in the world, 2nd-largest in Asia , and the largest in India . OFB

494-505: The Ministry of Heavy Industries and Public Enterprises . The Department of Public Enterprises (DPE), Ministry of Finance is the nodal department for all the Central Public Sector Undertakings (CPSUs). As of October 2021, there are 13 Maharatnas, 14 Navratnas and 72 Miniratnas (divided into Category 1 and Category 2). Currently there are 12 Nationalised Banks in India (Government Shareholding power

532-609: The Planning Commission was formed by a cabinet resolution in March 1950 and the Industrial (Development and Regulation) Act was enacted in 1951 with the objective of empowering the government to take necessary steps to regulate industry. The first Prime Minister of India, Jawaharlal Nehru , promoted an economic policy based on import substitution industrialisation and advocated a mixed economy . He believed that

570-543: The nationalisation of corporations . PSUs subsequently expanded into consumer goods production and service areas like contracting, consulting, and transportation. Their goals include increasing exports, reducing imports, fostering infrastructure development, driving economic growth, and generating job opportunities. Each PSU has its own recruitment rules and employment in PSUs is highly sought after in India due to high pay and its job security , with most preferring candidates with

608-716: The Indian Ordnance Factories Board are available for civilians: These products are exclusively manufactured for use by the armed forces and are not sold to civilians. The prime customers of Indian Ordnance Factories were the Indian Armed Forces viz. Indian Army, Indian Navy and the Indian Air Force. Apart from supplying armaments to the Armed Forces, Ordnance Factories also meet the requirements of other customers viz.

646-524: The Ministry of Defence. IOFS is a multi-disciplinary composite cadre consisting of technical – engineers ( civil , electrical , mechanical , electronics ), technologists ( aerospace , automotive , marine , industrial/product design , computer , nuclear , optical , chemical , metallurgical , textile , leather ) and non-technical/administrative ( science , law , commerce , management and arts graduates). Technical posts account for about 87% of

684-763: The central government established the higher Maharatna category, which raises a public sector unit's investment ceiling from ₹1,000 crore to ₹5,000 crores. The Maharatna public sector units can now decide on investments of up to 15 per cent of their net worth in a project while the Navaratna companies could invest up to ₹1,000 crore without explicit government approval. Two categories of Miniratnas afford less extensive financial autonomy. Guidelines for awarding Ratna status are as follows: The average annual Net worth of ₹10,000 crores for three years, OR Average annual Turnover of ₹20,000 crore for three years (against Rs 25,000 crore prescribed earlier) A PSU must first be

722-423: The crisis, the government began divesting its ownership of several PSUs to raise capital and privatize companies facing poor financial performance and low efficiency. The public sector undertakings are headed by the head of board of directors also known as chairperson cum managing director cum chief executive officer and a vice chairperson cum deputy managing director cum co-chief executive officer along with

760-575: The establishment of basic and heavy industry was fundamental to the development and modernisation of the Indian economy. India's second five year plan (1956–60) and the Industrial Policy Resolution of 1956 emphasized the development of public sector enterprises to meet Nehru's national industrialisation policy. His vision was carried forward by V. Krishnamurthy , a figure known as the "Father of Public sector undertakings in India". Indian statistician Prasanta Chandra Mahalanobis

798-570: The financial year 2018–19. When India achieved independence in 1947, it was primarily an agrarian entity, with a weak industrial base. There were only eighteen state-owned Indian Ordnance Factories , previously established to reduce the dependency of the British Indian Army on imported arms. The British Raj had previously elected to leave agricultural production to the Private sector , with tea processing firms, jute mills (such as

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836-552: The first engineering colleges of India, as its training schools, sparked India's first war of independence in 1857 with its rifles and bullets, and also played key role in the founding of research and industrial organisations like ISRO , DRDO , BDL , BEL , BEML , SAIL , etc. On 17 June 2021, the Defence Ministry announced its plans to split the existing five operating divisions of OFB, in addition to parachutes and opto-electronics, into seven PSUs, wholly owned by

874-509: The global market so as to "support [them] in their drive to become global giants". Financial autonomy was initially awarded to nine PSUs as Navratna status in 1997. Originally, the term Navaratna meant a talisman composed of nine precious gems. Later, this term was adopted in the courts of the Gupta emperor Vikramaditya and Mughal emperor Akbar , as the collective name for nine extraordinary courtiers at their respective courts. In 2010,

912-449: The government. Depending on the level of government ownership, PSUs are officially classified into two categories: Central Public Sector Undertakings ( CPSUs ), owned by the central government or other CPSUs; and State Public Sector Undertakings ( SPSUs ), owned by state governments. CPSU and SPSU is further classified into Strategic Sector and Non-Strategic Sector. Depending on their financial performance and progress, CPSUs are granted

950-417: The government. It was mentioned that all existing factories and employees will become a part of these seven PSUs. From 1 October 2021, OFB has been dissolved and all the management, control, operations and maintenance has been transferred to 7 newly formed Defence PSUs, namely: The new companies were launched and dedicated to the nation on 15 October 2021. The Government is merging them again in 2024, as

988-400: The main products/technologies employed. These were: Each of the above group of factories was headed by a Member/Additional DGOF who was in the rank of Special Secretary to Government of India. The four remaining members were responsible for staff functions, viz personnel, finance, planning and material management, and technical services, and they operated from Kolkata. Each ordnance factory

1026-725: The members of the board of directors also known as executive director cum c-level officer who are Group 'A' gazetted officers appointed by the President of India in case of central public sector undertakings, its subsidiaries & its divisions and appointed by the Governor of States of India in case of state public sector undertakings, its subsidiaries & its divisions. All of the public sector undertakings have been awarded additional financial autonomy. Public Sector Undertakings are government establishments that have comparative advantages", giving them greater autonomy to compete in

1064-495: The national consensus turned in favor of rapid industrialisation of the economy, a process seen as the key to economic development, improved living standards and economic sovereignty. Building upon the Bombay Plan , which noted the necessity of government intervention and regulation in the economy, the first Industrial Policy Resolution announced in 1948 laid down in broad strokes such a strategy of industrial development. Later,

1102-466: The output of one factory serves as the input of the other. The Apex Board was headed by the Director General of Ordnance Factories (DGOF), who acts as the chairman of the board (ex officio Secretary to Government of India ) and consisted of nine other members, who each held the rank of Additional DGOF. Ordnance factories were divided into five operating divisions, depending upon the type of

1140-920: The role of director until her eldest son, Alasdair, became chairman in 1937. Its date of incorporation in the Registrar of Companies is 24 February 1920. In 1981, it was nationalised and taken over by the Government of India. It has not generated profit since 1989. Headquartered in Kanpur , BIC nominally operates two woollen mills in Kanpur and Dhariwal ( Punjab ). In 2006 the CPSU employed over 2,700 people and had aggregated revenues of ₹ 373 million (US$ 4.5 million). It ceased manufacturing in 2005, but still employs 1,800 people. New weaving machines installed in 2005 have never been used. Notes Citations Bibliography This article about an Indian company

1178-536: The status of Maharatna , Navaratna , and Miniratna (Category I and II). Following India's independence in 1947, the limited pre-existing industries were insufficient for sustainable economic growth . The Industrial Policy Resolution of 1956 , adopted during the Second Five-Year Plan , laid the framework for PSUs. The government initially prioritized strategic sectors, such as communication, irrigation, chemicals, and heavy industries , followed by

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1216-648: The total cadre. The doctors ( surgeons and physicians ) serving in OFB belong to a separate service known as the Indian Ordnance Factories Health Service ( IOFHS ). IOFHS officers are responsible for the maintenance of health of the employees, and the hospitals of OFB. They report directly to the IOFS officers. IOFS and IOFHS are the only two civil services under the Department of Defence Production. The type of ordnance material produced

1254-483: Was also tasked with identifying their products and patents, with the scope of commercial production A joint venture between Ordnance Factory Board (50.5%), Kalashnikov Concern (42%) and Rosonboronexport (7.5%) established to produce AK-203 (7.62×39mm) assault rifles intended for Indian Security Forces. The Indian Ordnance Factories Service ( IOFS ) is a civil service of the Government of India. IOFS officers are Gazetted (Group A) defence-civilian officers under

1292-617: Was established at Cossipore , Calcutta, and production began on 18 March 1802. This is the oldest ordnance factory in India still in existence. The Indian Ordnance Factories have not only supported India through the wars, but also played an important role in building India, with the advancement of technology, and have ushered the Industrial Revolution in India, starting with the first modern steel, aluminium, copper plants of India , first modern electric textile mill of India , first chemical industries of India , established

1330-495: Was headed by a General Manager who is in the rank of Additional Secretary to the Government of India . National Academy of Defence Production provides training to the IOFS officers in areas of technology, management, public administration as induction and re-orientation courses. There were Ordnance Factories Institutes of Learning (OFILs) in Ambajhari, Ambernath, Avadi, Dehradun, Ishapore, Khamaria, Kanpur and Medak. Each OFIL

1368-448: Was headed by a principal director, and NADP by a senior principal director. NADP provided training to Group A officers, whilst the other eight institutes imparted training to Group B and Group C employees of the ordnance factories. OFB had Regional marketing centres and Regional controllerates of safety as well. In 2017, the Department of Defence Production under the Ministry of Defence opened itself to for Joint Ventures with OFB and DRDO

1406-482: Was instrumental to its formulation, which was later termed the Feldman–Mahalanobis model . In 1969, Indira Gandhi 's government nationalised fourteen of India's largest private banks, and an additional six in 1980. This government-led industrial policy, with corresponding restrictions on private enterprise, was the dominant pattern of Indian economic development until the 1991 Indian economic crisis . After

1444-431: Was the world's largest government-operated production organisation, and the oldest organisation in India. It had a total workforce of about 80,000. It was often called the "Fourth Arm of Defence", and the "Force Behind the Armed Forces" of India. Its total sales were at US$ 3 billion ( ₹22,389.22 crores ) in the year 2020–'21. It was engaged in research, development, production, testing, marketing and logistics of

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