Which organization developed and launched the ‘Ugram’ Indigenous As sault Rifle for the armed forces?

The correct option is DRDO.

Detailed Explanation:
The 'Ugram' (which means 'ferocious' in Sanskrit) is an indigenous assault rifle developed to meet the operational requirements of the Indian Army, paramilitary forces, and state police forces.
It was jointly developed by the Armament Research and Development Establishment (ARDE), a premier laboratory of the Defence Research and Development Organisation (DRDO) located in Pune, in collaboration with a private sector industry partner, Dvipa Armour India Private Limited.

Key Features of the 'Ugram' Assault Rifle:
1. Caliber: It is designed for the 7.62 x 51 mm caliber ammunition.
2. Weight and Range: The rifle weighs less than 4 kilograms and has an effective firing range of 500 meters.
3. Development Process: The development followed the Development-cum-Production Partner (DcPP) model to ensure rapid design, prototyping, and manufacturing, showcasing a successful public-private partnership in defense production under the 'Make in India' initiative.