New Delhi, May 29 -- Defence Minister Rajnath Singh has approved the grant of "Miniratna" status Category-I for Munitions India Limited (MIL), Armoured Vehicles Nigam Limited (AVNL) & India Optel Limited (IOL), the Ministry of Defence said in a press release.

Congratulating these Defence Public Sector Undertakings (DPSUs) for their transformation from a government organization to a profit making corporate entity in a short span of three years, Defence Minister expressed his satisfaction over the initiatives taken by the management of MIL, AVNL and IOL to increase the turnover of the company, maximize indigenisation and meet other performance parameters for grant of Miniratna (Category-I) status.

Munitions India Limited has achieved sign...