"India leads global arm imports"
Munawar Zaman
Press TV, New Delhi
India has been increasing its defense expenditure tremendously over the last few years. The country has spent billions of dollars to modernize and expand its military might in the region. According to a new report by Stockholm International Peace Research Institute, I-S-P-R-I, India’s arm imports have more than doubled over the oast 5 years, making it the world’s biggest importer of military hardware followed by Saudi Arabia.
India’s shares of multi-billion dollar global arm trade rose to 140 percent compared with the previous five years. According to the report, New Delhi accounted for 15 per cent of global weapons imports between 2010 and 2014. The report said that India has so far failed to produce sophisticated defense equipment which makes it largely dependent on imports.
According to reports, Russia, Israel and the United States have emerged as a leading suppliers of arms to India over the last 5 years, in recent months Prime Minister Modi has been encouraging for more local manufacturing to develop India’s domestic-defense industry. He initiated make in India campaign in a bid to boost economy and to attract more investment and foreign exchange.
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