NEW DELHI (PTI): Defence Minister Rajnath Singh on Tuesday exuded confidence that the new defence public sector undertakings (DPSUS) will set new dimensions in quality, turnover and profitability.

Rajnath Singh made the remarks at a meeting of the Consultative Committee for the defence ministry.

"Our new DPSUs will make India 'Aatmanirbhar' (self-reliant) in the field of defence production," he said.

The government set up seven state-run defence companies which were carved out of the erstwhile Ordnance Factory Board (OFB) in 2021.

The main objective of the restructuring was to transform ordnance factories into productive, and profitable assets, improve expertise in the product range and increase competitiveness.

The roles and functions of the new DPSUs, which were created post corporatisation of erstwhile Ordnance Factory Board, were deliberated upon at the meeting.

The committee was apprised of the financial figures, modernisation, capital expenditure, exports and new products developed by the DPSUs.

In his remarks, Singh appreciated the efforts taken by the new DPSUs in indigenisation of critical products, modernisation of manufacturing facilities and promotion of MSMEs (Micro, Small & Medium Enterprises).

He appreciated the fact that post corporatisation of the Ordnance Factory Board, the new DPSUs have shown improvement in productivity and quality, according to the defence ministry.

There has been good progress in the sales and profit of these DPSUs in a very short span of time, he added.

Singh exuded confidence that the new DPSUs will carry forward modernisation and indigenisation, and will set new dimensions in quality, turnover, profitability and other financial parameters by incorporating world class technologies.