Army Chief General Bipin Rawat said on Friday that domestic defence industry exports are expected to grow to Rs 35,000 crore by 2024, up from the current annual figure of Rs 11,000 crore.

General Rawat, who was speaking at a conclave of foreign defence attaches at the Constitution Club, further said that India is committed to the ethos of indigenisation of defence production. The conclave was also attended by Navy Chief Admiral Karambir Singh.

"Let me assure you that we are manufacturing weapons and equipment not only to arm our defence forces but we are now gradually becoming an export-oriented defence industry. Our defence exports which rangein the figure of Rs 11,000 crore annually, are set to achieve the figure of Rs35,000 crore approximately by the year 2024," said Rawat.

A number of private defence firms, other than state-rundefence industries, are also attending the conclave. Around 22 private defencefirms came together to launch the Indigenous Defence Equipment Exporters'Association (IDEEA) on the occasion of the conclave.

"As we prepare to meet the challenges that lie in our security path in an uncertain and complex world, we look towards our defenceindustries to provide us the solutions to meet the needs of our forces. In thepast few years, numerous initiatives have been taken and various schemes havebeen launched to energize the defence sector in India. And therefore we remaindeeply committed to the ethos of indigenisation," Rawat said.

Elaborating on the Make in India initiative of the Centre,General Rawat said it will be taken forward with the defence corridors that arebeing set up with a bouquet of advantages in the form of ease of landclearances, tax concessions and other issues.

"The strategic partnership model, for example, givesstability and assurance to Indian original equipment manufacturers in thecreation of world-class defence products. Even as I speak, we are trying tolower bureaucratic barriers further by reducing processes. We are placing ahuge premium on transparency," he said.

At the conclave, the industries were assured of allassistance in their endeavours from the country's extensive militarycooperation network in consultation with the ministries.

General Rawat assured that the Army Design Bureau, afacilitator for research and development efforts and initiation of procurementsof weapons and equipment required by the Indian Army, will facilitate allstakeholders to energise defence production.

"In a globalised world, in order to confront emergingthreats it will also be wise to strengthen the paradigm of shared responsibilityfor defence preparedness," added Rawat.

Navy Chief Admiral Karambir Singh said that the maritimedefence service is committed to regional co-operation in accordance with thepolicies of the government.

"The Navy stands on the basic principles of helpingbuild self-sufficiency and confidence among partners, respect for national andinternational law, collective military competence by learning from bestpractices of other nations and strengthening co-operative mechanisms,"Admiral Singh said.

He also said the navy follows the policies of the governmentunder the 'Sagar' (Security and Growth for All) doctrine.

"We are enhancing co-operation and engagements throughthe five S's, that is, Samman (Honour), Samvad (Dialogue), Sahyog(Co-operation), Shanti (Peace) and Samriddhi (Prosperity)," he added.