India is targeting to increase its defence exports to over Rs 50,000 crore in the next five years, Defence Minister Rajnath Singh said on Thursday.

Mr Singh was taking charge of his ministry at the South Block here after his reinduction into the Union Cabinet as defence minister. He was received by the new Minister of State for Defence, Mr Sanjay Seth, and senior officials of the ministry.

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He said India has already exported defence equipment worth Rs 21000 crores, which is a historic achievement for the country.

He said he had honestly fulfilled his responsibility as the country’s defence minister during the last five years and would continue to do so. ”Our priorities will remain the same: safeguarding the country and ensuring the welfare of our jawans.”

Mr Singh said the Modi Government is committed to building a strong and ‘Atmanirbhar’ Bharat. ”The morale of our forces has always been very high and we will ensure it continues to remain high. Our forces have displayed an extraordinary level of bravery whenever an occasion has arisen. Any amount of appreciation of the armed forces, be it the Indian Army, Indian Navy or the Indian Air Force, is not sufficient,” he added.

Soon after taking charge, Mr Singh held a review meeting with the services chiefs and senior ministry officials on the 100-day action plan of the Modi government in the area of defence. Chief of Defence Staff, Gen Anil Chauhan, Chief of Army Staff, Gen Manoj Pande, Chief of Air Staff, Air Chief Marshal V R Chaudhari and Indian Navy chief, Admiral Dinesh Tripathi were among those who attended the meeting.

The meeting focused on the welfare of veterans, wherein major issues pertaining to the Department of Ex-Servicemen Welfare were discussed. He instructed the officers to re-dedicate themselves to fulfil the agenda laid out in the 100-day action plan.

With a view to enhancing defence preparedness and continued thrust on ‘Atmanirbharta’ in Defence, Mr Singh stated that he would be conducting regular review meetings to fast-track the progress of the flagship schemes and the initiatives of the ministry.

Emphasising the growing salience of the Indian Ocean Region in the defence calculus, the defence minister decided that his first visit would be to the Eastern Naval Command, Visakhapatnam, wherein he would be interacting with the officers and sailors.