LONDON: India became world’s largest importer of weapons and military equipment with 14% market share which is a sign of failure to built strong domestic defence industry.
India increased imports by 90% in last 10 years and spent $120 billion on imports in last 15 years.
India’s imports are three times greater than it regional rivals China and Pakistan.
India purchased 70% of arms from Russia in last 5 years.
India has launched ‘Make in India’ initiative and US based Lockheed Martin company will also establish a plant in India to make F-16 fighter jets.
Despite of Make in India component, India will purchase 36 French Rafale fighters worth Rs.60,000 crore and 5 advanced Russian S-400 Triumf air defence missile systems worth Rs.39,000 crore.
Indian Defence Minister Manohar Parrikar warned Domestic Defence industry to improve their performance.
The report was produced by the Sweden based think tank Stockholm International Peace Research Institute (SIPRI).
It claimed “India was the largest importer of major arms in 2011-15.”
The report claimed that Saudi Arabia, China, UAE are the next four biggest importers.
China is third largest exporter of weapons and Pakistan is main buyer with 35% share.
The institute claimed that five biggest exporters in last 5 years are US, Russia, China, France and Germany respectively.