OFB targets Rs 1,000 crore exports in two years

Ordnance Factory Board (OFB) is targeting to export Rs 1,000 crore worth of defence ammunition products over the next two years, its chairman P K Srivastava said Thursday.

Last year, the state-run OFB's exports stood at Rs 250 crore, he said, adding that a deal of Rs 500 crore in the current fiscal would be finalised shortly.

For the first time, OFB has conducted a road show for defence attaches with Indian embassies abroad to keep them updated on the products which it manufactures as also their export potential.

"There was never a thrust on exports even a decade back. But now, with the change in approach, we are pursuing the global market," Srivastava, also the Director General of Ordnance Factory (DGOF), said.

He said all the 41-odd ordnance factories were embracing technological advancements with focus on research and development.