## Defence export will grow at 18% by 2030 The Ministry of Defence (MoD) has set a target to increase defence exports to Rs 25,000 crore by 2030, up from Rs 13,000 crore in 2022. This represents an 18% annual growth rate. The target is in line with the government's goal of making India a global leader in defence manufacturing. The MoD has identified several key areas for growth, including aerospace and naval systems, land systems, electronics and communication systems, and niche technologies. The government has also taken several steps to promote defence exports, such as relaxing export controls, providing financial assistance to exporters, and setting up a dedicated Defence Export Promotion Council. The Indian defence industry has a strong track record of innovation and development. In recent years, Indian companies have developed a number of world-class defence products, such as the Tejas fighter jet, the BrahMos cruise missile, and the Arjun main battle tank. The government's focus on defence exports is expected to further boost the industry's growth and innovation. ### Key drivers of growth * Government's focus on making India a global leader in defence manufacturing * Strong track record of innovation and development in the Indian defence industry * Relaxation of export controls * Provision of financial assistance to exporters * Setting up of a dedicated Defence Export Promotion Council ### Key areas for growth * Aerospace and naval systems * Land systems * Electronics and communication systems * Niche technologies ### Benefits of defence exports * Increased revenue for the government * Creation of jobs * Boost to the Indian defence industry * Enhanced global standing of India
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