India
In a significant boost to India’s defence manufacturing ecosystem, Defence Minister Rajnath Singh has approved the grant of ‘Miniratna’ Category-I status to Yantra India Limited (YIL). The decision underlines the government’s continued push towards Aatmanirbhar Bharat, with a sharp focus on strengthening indigenous defence production, reducing import dependence and positioning India as a global defence manufacturing hub.
Officials said the move is aligned with the broader defence reforms initiated by the Centre, which aim to empower defence public sector undertakings (DPSUs) with greater functional and financial autonomy. With the Miniratna Category-I status, Yantra India’s Board will now be authorised to incur capital expenditure of up to ₹500 crore on new projects, modernisation initiatives and equipment purchases without prior government approval. This enhanced autonomy is expected to significantly speed up decision-making and execution of critical manufacturing upgrades.
In an official statement, the defence ministry said the new status will enable YIL to pursue an accelerated growth trajectory, expand its production capabilities and explore new export opportunities. The move also reflects the government’s confidence in the company’s performance since its inception following the corporatisation of the Ordnance Factory Board.
Congratulating Yantra India on its transformation from a government organisation into a profit-making corporate entity within a short span of around four years, Rajnath Singh expressed satisfaction over the management’s efforts to boost turnover, maximise indigenisation and meet key performance benchmarks required for Miniratna recognition.
The numbers underline this turnaround. Yantra India recorded a sharp rise in sales from ₹956.32 crore in 2021-22 to ₹3,108.79 crore in FY 2024-25. On the exports front, the company has made notable strides, growing from zero exports in FY 2021-22 to ₹321.77 crore in FY 2024-25, reflecting India’s growing credibility in global defence supply chains.
Yantra India’s product portfolio spans a wide range of strategic defence components, including carbon fibre composites, glass composites, aluminium alloys, assembly products for medium and large calibre ammunition, armoured vehicles, artillery guns and main battle tanks. These capabilities are central to India’s goal of achieving self-reliance in critical defence technologies.
The company is one of the seven DPSUs created after the corporatisation of the erstwhile Ordnance Factory Board on October 1, 2021, a landmark reform aimed at improving efficiency, fostering innovation and enhancing competitiveness in defence manufacturing. Yantra India functions as a Schedule ‘A’ DPSU under the administrative control of the Department of Defence Production.
Notably, in May 2025, the defence minister had approved Miniratna-I status for three other newly formed DPSUs—Munitions India Limited, Armoured Vehicles Nigam Limited and India Optel Limited. The inclusion of Yantra India in this list further signals the government’s intent to empower capable defence manufacturers and scale up India’s defence production and export ambitions in the coming years.
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