(This Article is originally posted by the India Today)
India’s arms exports dropped by 33 per cent over the last decade, China accounted for 5.2 percent of the world’s oversees market for weapons with Pakistan, Bangladesh and Algeria being the largest buyers, a report by the Stockholm International Peace Research Institute (SIPRI) said.
“The drop in Indian arms imports seems to have been mainly due to its complex procurement processes, combined with an attempt to reduce its dependence on Russian arms. India is planning large-scale arms imports in the coming years from several suppliers,” the report says.
The 33 per cent drop in arms imports between 2011-15 and 2016-20 affected Russia the most, but India’s imports of US arms also fell, by 46 per cent, the report points out.
India’s neighbours Pakistan and Bangladesh continue to buy the bulk of Chinese manufactured arms.
“Exports by China, the world’s fifth largest arms exporter in 201620, decreased by 7.8 per cent between 201115 and 201620. Chinese arms exports accounted for 5.2 per cent of total arms exports in 201620. Pakistan, Bangladesh and Algeria were the largest recipients of Chinese arms,” it added.
The Indian government has set in place a policy targeting defence exports worth Rs 35,000 crore by 2025 and doubling its domestic procurement from Indian manufacturers to decrease dependence of armed forces on foreign weapons and military platforms.
The share of domestic procurement in overall defence procurement is about 60 per cent. In order to enhance procurement from domestic industry, it is incumbent that procurement is doubled from the current Rs 70,000 crore to Rs 1,40,000 crore by 2025.
