Well said.
India Becomes Top Arms Importer in the World
Feb 24 2014
As per the data revealed by the reputed Swedish research centre which monitors global arms purchases, India tops the list of countries that have the largest arms imports, followed by China, South Korea and Pakistan.
The data on arms transfers released by Stockholm International Peace Research Institute (SIPRI) indicated that India received 9 per cent of the volume of international arms transfers during 2006 to 2010. The report added that the four largest importers of conventional weapons in 2006 to 2010 are all located in Asia with China and South Korea garnering 6 per cent each and Pakistan with 5 per cent of the volume of international arms transfers.
The SIPRI report added that India is expected to maintain the top spot in arms exports due to a range of combat aircraft, naval systems and weaponry that India plans to acquire in the near future.
In the last five years, India's arms import delivery volumes jumped 21 per cent. India’s defence budget of $ 34 billion is a 40 per cent hike from two years before and
India also imports 70 per cent of its arms. Most of the procurements are meant for modernizing the Indian Armed Forces. The report added that 82 per cent of Indian imports come from Russia, which has long been India’s supplier of choice. In addition, aircrafts accounted for 71 per cent of India’s global imports.
India has established itself as a prime importer of defence equipment and the purchases lined up in the pipeline only reinforce its status as a top buyer in the world. India proposes to buy 126 fighter jets in a deal worth $11 billion and about 200 helicopters worth another $ 4 billion. Other significant purchases include large amphibious landing ships at $300 million to $500 million each and talks regarding another $10 billion submarine order.
The SIPRI report indicated that the average volume of worldwide arms transfers in 2006 to 2010 was 24 per cent higher than the previous five-year period. The major recipient region in 2006-2010 remained Asia and Oceania with 43 per cent of all imports followed by Europe with 21 per cent, the Middle East with17 per cent, the Americas with 12 per cent and Africa with 7 per cent.
Although China had remained the top arms buyer till last year, it has become self reliant to a large extent and not many major weapons were acquired lately. In fact, China’s annual arms imports declined from $3.5 billion in 2005 to $0.6 billion in 2009.
However, India’s percentage in global arms import has risen 21 percent from the previous five-year-period with factors such as internal security and rivalries with neighboring countries accounting for that hike. India has, unlike China, failed to become self-reliant and create a more robust domestic industry in the recent years.
Meanwhile, the United States remained the world's largest military equipment exporter, accounting for 30 percent of global arms exports in 2006 to 2010 period, 44 percent of which went to to Asia and Oceania, the SIPRI report said. The rest of the top five arms suppliers were Russia with 23 percent of the total market Germany with 11 per cent, France with 7 per cent and Britain with 4 per cent.
India Becomes Top Arms Importer in the World
