Ordnance Factory Board to invest in modernisation

 D K Datta, chairman OFB said, the thrust would be on modernisation, in-house research and development and diversification in the non-defence sector namely civil trade and exports. Revenues which were at Rs 6,400 last year, was expected to be in the region of Rs 6,800 crore.

 The new launches in the coming months were the export version of the 5.56 rifle and the .30 for sporting. On the occasion of the centenary celebrations of the Ishapore rifle factory, a limited edition of .22 revolver with additional features was being planned.

 In the civilian segment, last year 12,500 . 315 rifles were sold and the target for this year was 15,000.