Bipin Rawat was speaking at an event of Indigenous Defence Equipment Exporters Association. (File)

Indian defence industry is becoming export-oriented and country's defence exports are set to grow to Rs 35,000 crore in the next five years, Army chief Bipin Rawat said on Friday.

"We are manufacturing weapons and equipment not just to arm our defence forces but we are now gradually becoming an export-oriented defence industry and our defence export which currently range in the region of just about Rs 11,000 crores annually is set to grow to approximately Rs 35,000 crores by the year 2024," he said.

Mr Rawat along with Navy Chief Admiral Karambir Singh was speaking at an event of Indigenous Defence Equipment Exporters Association.

"In order to maintain peace and stability, the armed forces have to be capable to deliver the intent when called upon to do so. For that, we need well-trained manpower, soldiers, sailors and airmen who are empowered. I believe that empowerment of the soldiers come from good training providing them with good quality weapons and equipment," said Mr Rawat.

Mr Rawat further asserted that we are one of the leading armed forces of the world, not only by virtue of our size but by virtue of our extensive combat experience, our professionalism and our apolitical nature.

"In the past few years, numerous initiatives have been taken and various schemes have been launched to energise the defence sector in India and therefore we remain deeply committed to the ethos of indigenisation," he added.

"We place a huge premium on transparency as well, the army's problems and deferential statements are released annually to provide a clear direction to the industry, and the industry has responded rather well," said Mr Rawat said.

Mr Rawat announced that the next defence expo is scheduled to be held in Lucknow in the first and second week of February 2020, where the defence industries supported by the Defence Research and Development Organisation (DRDO) and private enterprises will showcase their worth.

"A lot of modern technologies will be on display at the sites. We will be coming forward to certify some of the equipment that may be on display," said Mr Rawat.