Between 2011-15 and 2016-20, India’s arms imports declined by 33%. It has had the most impact on Russia. This information has been revealed in the report released by Stockholm International Peace Research Institute (SIPRI). According to the report, India has taken several measures in the last five years to boost the domestic defense industry to reduce dependence on imports of military equipment.
The biggest impact on Russia
The report says that Russia has had the greatest impact on India’s import decrease. However, imports from India to the US have also come down by 46 percent. The government is focusing on boosting domestic defense production and has set a target of Rs 1.75 lakh crore of defense business by 2025.
In response to a question in the Rajya Sabha, Minister of State for Defense Shripad Naik said that about 1.99 lakh crore rupees have been approved between 2018-19 and 2020-21 to boost domestic defense production.
China’s arms exports also decreased
The report noted that China’s arms exports decreased by 7.8 percent during 2016-20. Pakistan, Bangladesh, and Algeria were the major buyers of Chinese arms. Sipri said that the US is the largest exporter of arms and its arms exports grew from 32 percent to 37 percent during 2011-15 and 2016-20.