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| Global Arms Trade Trends: SIPRI 2024 Report Analysis [Source: Current Affairs Adda247] |
According to the Stockholm International Peace Research Institute (SIPRI) report released on March 11, 2024, India remains the world's largest arms importer, with Russia being its prime source despite a declining share in recent years. Here are the key insights from the report:
India’s Arms Imports
- India accounted for 9.8 percent of the total global arms imports during the 2019-2023 period.
- Arms imports increased by 4.7 percent between 2014-18 and 2019-23, despite efforts to boost domestic defense manufacturing.
- Russia's share in Indian arms exports is gradually falling, accounting for 36 percent of India’s total arms imports during the period under review.
Trends in Indian Imports
- France accounted for 33 percent of India’s total arms imports, while the United States contributed 13 percent.
- Recent acquisitions from the US and France indicate a shift towards these countries for military hardware.
- Arms imports by Japan and South Korea, two of China’s key neighbors, increased significantly, attributed to concerns over China’s aggression in the Indo-Pacific region.
China Factor
- China’s arms imports decreased by 44 percent, with Russia being tied up in the domestic market.
- Military cooperation between China and Pakistan deepened, with 61 percent of China’s total defense exports going to Pakistan.
Global Trends
- Despite an overall decline in global arms transfers, the United States’ share of global arms exports increased from 33 to 40 percent.
- Russia’s share fell from 22 to 16 percent, while Europe saw a rise in arms exports due to tensions with Russia.
Middle East Arms Imports
- Saudi Arabia, Qatar, and Egypt were among the top 10 importers during 2018-22.
- Saudi Arabia was the world’s second-largest arms importer, receiving 9.6 percent of all arms imports.