India has solidified its status as the world’s leading arms importer, as per a recent report from the Stockholm International Peace Research Institute (SIPRI).
The data, covering the period from 2014 to 18 and 2019 to 23, indicates a 4.7% increase in India’s arms imports. Although historically Russia dominated India’s arms market with 36% of imports, this trend has shifted. For the first time since the 1960s, Russia’s share fell below half of India’s arms imports, highlighting supplier diversification. The United States played a significant role, contributing 34% to India’s arms imports.
Despite maintaining a major arms supplier role, Russia’s exports to India declined by 53%. The report also noted a 43% increase in arms imports by India’s neighbour, Pakistan, predominantly sourced from China.
Global Dynamics of Arms Trade
India: Leading arms importer with a 4.7% increase.
Saudi Arabia: Second-largest importer, receiving 8.4% of global arms imports.
Qatar: Third-largest importer, with a fourfold increase (+396%).
Ukraine: Fourth globally.
Pakistan: Fifth-largest importer with a 43% increase.
Egypt: Seventh-largest importer, enhancing military capabilities with combat aircraft and major warships.
Australia: Eighth-largest importer, despite a 21% decrease in arms imports.
Israel: Primarily reliant on the USA (69%) and Germany (30%) for arms imports.
Top Arms Exporting Countries (2019–23)
USA: Maintains dominant position with a 17% increase, accounting for 42% of global arms exports.
France: Secures second position globally with a 47% increase.
Russia: Falls to third with a 53% decline in arms exports.
Italy: Experiences an 86% increase in arms exports.
South Korea: Records a 12% increase in arms exports.
China: Slight decrease in arms exports (–5.3%), becoming a major supplier to sub-Saharan Africa.
Germany: Declines by 14% in arms exports.
United Kingdom: Declines by 14% in arms exports.
Spain: Experiences a 3.3% decline in arms exports.
Israel: Witnesses a 25% decline in arms exports.
Factors Driving India’s Increased Arms Acquisition
India’s augmented arms acquisitions stem from modernization efforts, geopolitical tensions, and a diversification strategy to bolster defence capabilities. France significantly contributes to this diversification, with India emerging as the largest single recipient of French arms exports.
The SIPRI report also highlights global dynamics, indicating a 3.3% overall decline in international arms transfers between 2014–18 and 2019–23.
In this period, the USA increased arms exports by 17%, maintaining its position as the leading arms exporter, accounting for 42% of total global arms exports.
Other notable developments include a substantial rise in arms imports by European states, with Ukraine becoming the largest European arms importer. The Middle East remains a high-volume arms importer, led by Saudi Arabia, Qatar, and Egypt.
Other Key Developments in Global Arms Trade
Asia and Oceania: Receives 37% of major arms transfers, with the USA being the largest supplier (34%).
Middle East: Despite a 28% decrease in Saudi Arabia’s arms imports, the region remains a significant importer, mainly from the USA (52%), followed by France, Italy, and Germany.
Africa: Arms imports decline by 52%, driven by substantial decreases in Algeria (–77%) and Morocco (–46%). China surpasses Russia as the main supplier to sub-Saharan Africa.
America: Arms imports decrease by 7.2%, with the USA, Brazil, and Canada leading the region.
Australia: Ranks as the eighth-largest arms importer globally, reaching an agreement to import at least six nuclear-powered submarines in 2023, in collaboration with the UK and the USA, according to The Free Press Journal.
(Finance World and The Free Press Journal have published the article under a mutual content partnership arrangement.)
