'700% growth in Defence exports in the last 3 years' General Bipin Rawat
Chief of Defence Staff General Bipin Rawat in a FICCI webinar said, "There has been a significant 700% growth in India's defence exports in last 3 years". India' Defence exports witnessed a rise from ₹1521 crores in 2016-17 to ₹10,745 crores in 2018-19 according to the CDS General Bipin Rawat. At a webinar organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) on catalysing defence exports, General said: “We must move out of the constant threat of sanctions of dependency on individual nations for military requirements”. India is the third-largest spender in the Defence sector, It is time for India to analyse the budget distribution more efficiently. India strictly needs to invest more in Research & Development (R&D) to make India's Defence requirements self-sufficient.