According to the “Trends in International Arms Transfers, 2023” report by the Stockholm International Peace Research Institute (SIPRI), India has become the world’s largest arms importer for the period of 2019-2023, marking a 4.7% increase from the previous five-year period. Saudi Arabia and Qatar follow as the second and third largest importers, respectively.
Key Findings on Global Arms Trade:
- Top Exporters: The United States, France, and Russia were the leading arms exporters during this period.
- India’s Main Suppliers:
- Russia (36%), although this is the first time since the 1960s that Russia’s share has dropped below half of India’s total arms imports.
- France (33%)
- United States (13%)
Global Importers and Exporters:
- Top Five Importers:
- India leads with 9.8% of global imports.
- The remaining top importers include Saudi Arabia, Qatar, Ukraine, and Pakistan.
- Top Five Exporters:
- USA (42% of global exports), France (11%), and Russia (11%) top the list.
- China and Germany also feature prominently, with significant shares in global arms exports.
Market Dynamics:
- Export Growth and Declines:
- U.S. arms exports surged by 17% from 2014-18 to 2019-23.
- France’s exports grew by 47%, while Russia’s exports saw a dramatic 53% decline.
- Overall Trends: The volume of international transfers of major arms was slightly lower by 3.3% compared to 2014-18 but higher by 3.3% than 2009-13.
India’s Defense Budget and Developments:
- Budget Allocations: For the fiscal year 2025, India has allocated Rs 6.2 lakh crore to the Ministry of Defence, with Rs 1.72 lakh crore designated for new procurements.
- Defense Production and Exports: Currently, India’s defense production is valued at Rs 1 trillion, with exports totaling Rs 16,000 crore. There are plans to double these exports to Rs 40,000 crore within two years.
Recent Defense Contracts:
- The Ministry of Defence has signed contracts for the upgrade of the Indian Naval Ship (INS) Beas and the construction of a training ship for the Indian Coast Guard, emphasizing domestic development and manufacturing.
This report underscores India’s strategic positioning in the global arms market, as well as its ongoing efforts to enhance its defense capabilities and export potential.
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