New Delhi (March 12, 2018): The Stockholm based think tank has revealed on Monday that India has been the world’s largest importer of arms in the last five years.
As per latest report of the Stockholm International Peace Research Institute (SIPRI), India accounted for 13% of the total global arms import between 2012–16 which is highest among all the countries.According to the report while China was increasingly able to substitute arms imports with indigenous products, India remained dependent on weapons technology from Russia, the US, Europe, Israel and South Korea.
In the last five years, the report found that trade of major weapons has increased to its highest volume since the Cold War, triggered mainly by sudden spurt in demand from Middle East and Asia.
Saudi Arabia was the second largest arms importer in 2012-16, with an increase of 212% compared with 2007–11. Arms imports by Qatar went up by 245%.According to the report, Russia accounted for a 23% share of global exports in the period 2012–16 and 70% of its arms exports went to India, Vietnam, China and Algeria.
The US was the top arms exporter in 2012–16 with a one- third share of global arms exports and its supplies rose by 21% compared with 2007–11. Almost half of its arms exports went to the Middle East, said the report.