India - Largest arms importer in 2014
Russia—the second largest arms exporter with total delivery agreements worth $10.1 billion— was the biggest source for Indian weapon imports
Between 2007 and 2014, Saudi Arabia remained the top arms buyer, with the total shipment worth $86.6 billion
India was the world’s largest arms purchaser in 2014 with total import agreements worth $5.5 billion, according to a US-based think tank.
Other top importers Saudi Arabia and Iraq followed closely with their respective arms imports value at $4.2 billion and $3.4 billion, said the report of Congressional Research Service (CRS), an agency which provides policy and analysis services to the US Congress.
The report based on the arms export-import deals signed between 2007 and 2014 said that during 2014, the US accounted for world’s 50.4% of total arms exports, making defence supply agreements worth $36.2 billion, up 35.58% over $26.7 billion in 2013.
Russia—the second largest arms exporter with total delivery agreements worth $10.1 billion— was the biggest source for Indian weapon imports
“Although Russia has lacked the larger traditional client base for armaments held by the United States and the major West European suppliers, it has been a major source of weaponry for a few key purchasers in the developing world. Russia’s most significant high-value arms transfer agreements continue to be with India,” the CRS report said.
Saudi Arabia, however, remained the top arms buyer between 2007 and 2014 with shipments totaling $86.6 billion. India remained at the second position, making arms transfers worth $38.1 billion during the period.
During 2011-2014, Saudi Arabia again registered the largest number of defence agreements worth $56.4 billion. During this period, India was at second position with purchase deals worth $38.1 billion.
In 2014, Russia signed an agreement with India for anti-tank shells at over $432 million. Russia, for long, has had important arms agreements and sales programs, particularly involving India.
India, a traditional buyer of Russian arms, has sought to diversify its weapons supplier base in recent years. It purchased the Phalcon aircraft in 2004 from Israel and several items in 2015 from France, particularly six Scorpene diesel attack submarines.
India has also inked some important defence deals with the United States. In 2008, it purchased six cargo aircraft from the United States; in 2010, it acquired 57 Hawk jet trainers from the United Kingdom for $1 billion; in 2010, it bought 12 AW101 helicopters from Italy; in 2011, it secured a $2.4 billion contract with France to upgrade 51 of its Mirage-2000 combat fighters, and a $4.1 billion worth deal with the United States to purchase 10 C-17 Globemaster III aircraft.
January 02, 2016 | 03:15pm IST
to success.