India’s arms imports fell 33% between 2011-15 and 2016-20, said a report released by the Stockholm International Peace Research Institute (Sipri). The report on international arms transfers attributed the drop in India’s arms imports mainly to an attempt to reduce its dependence on Russian arms and complex procurement processes. Russia was the most affected supplier, although India’s imports of US arms also fell by 46%.
India’s top three arms suppliers during 2016-20 were Russia (accounting for 49% of India’s imports), France (18%) and Israel (13%), the report. Myanmar, Sri Lanka and Mauritius were the top recipients of Indian military hardware, the report.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
According to Sipri, India accounted for 0.2% of the share of global arms exports during 2016-20, making the country the world’s 24th largest exporter of major arms. This represents an increase of 228% over India’s export share of 0.1 % during the previous five-year period of 2011-15.
Important takeaways for all competitive exams:
The Mukhyamantri Kisan Sahay Yojana (MKSY) is a farmer welfare scheme launched by the Government…
The Ministry of Petroleum and Natural Gas has introduced new regulations for domestic LPG consumers…
India has emerged as one of Asia's fastest-growing green economies, generating approximately US$110 billion in…
India is preparing to significantly expand its high-speed rail network with seven proposed bullet train…
The Reserve Bank of India (RBI) has infused ₹1.41 lakh crore into the banking system…
Chief of the Air Staff, Air Chief Marshal Amar Preet Singh, released the memoir of…