India has big ambitions for its defence sector, and a shopping list and budget – which totalled $30bn last year – to prove it. So it will not come as a surprise to hear that India has overtaken China as the world’s largest importer of arms.
India now accounts for 9 per cent of international arms transfers, followed by China and South Korea according to data from SIPRI, a Stockholm-based think-tank that monitors global weapons trade.
India last held the title of biggest arms buyer in 1992, but was de-throned by China which retained the title until 2010. China’s dependence on imported arms has slowed as it fosters a growing domestic defence industry. India’s defence sector, by contrast, is in early stages of development.
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