Defence Minister Rajnath Singh expressed satisfaction over the Yantra India Limited’s initiatives to boost turnover, maximise indigenisation and meet performance benchmarks required for Miniratna-I status. Photo credit: X/@YantraIndiaLtd
Defence Minister Rajnath Singh has approved the grant of Miniratna Category-I status to Yantra India Limited (YIL), a defence public sector undertaking (DPSU), on Monday (February 2, 2026).
The Ministry of Defence stated that congratulating YIL on its rapid transition from a government organisation to a profit-making corporate entity within four years, the Defence Minister expressed satisfaction over the company’s initiatives to boost turnover, maximise indigenisation and meet performance benchmarks required for Miniratna-I status.
Exports soared
Since its inception, YIL has recorded strong growth in sales, rising from ₹956.32 crore in 2021-22 (H2) to ₹3,108.79 crore in FY 2024-25. Exports, which were nil in 2021-22 (H2), increased to ₹321.77 crore in FY 2024-25. The company’s major product portfolio includes carbon fibre composites; assembly products for medium and large calibre ammunition; armoured vehicles; artillery guns and main battle tanks; glass composites; and aluminium alloys, the Ministry added.
The Miniratna-I status empowers YIL’s Board to incur capital expenditure of up to ₹500 crore on new projects, modernisation and equipment purchases without prior government approval, enabling faster decision making and accelerated growth in defence production and exports.
The government had corporatised the erstwhile Ordnance Factory Board (OFB) into seven new DPSUs on October 1, 2021, to enhance functional autonomy, efficiency and innovation in defence manufacturing. YIL is one of these Schedule ‘A’ DPSUs functioning under the administrative control of the Department of Defence Production.
In May 2025, the Defence Minister had approved Miniratna-I status for three other DPSUs — Munitions India Limited, Armoured Vehicles Nigam Limited and India Optel Limited.
The decision underscores the government’s commitment to Aatmanirbhar Bharat, with emphasis on strengthening indigenous defence manufacturing, reducing import dependence, promoting domestic industry participation and positioning India as a global defence manufacturing hub.
Published – February 02, 2026 09:43 pm IST
