Saturday, March 27, 2010

India Gets 2nd Ranking in Arms Imports

By; Indian defense Online
With rapid defence acquisitions from the international arms market, India is well on its way to become the leading arms buyer in the next five years. As per a recently released report by the Stockholm International Peace Research Institute (SIPRI), China currently holds the number position in arms acquisition followed by India for the period of 2005-2009.
SIPRI is a world-renowned institute that serves as a watchdog for international arms trade across the globe and keeps a check on the number of contracts signed by a country or weaponry bought or sold by the country. For the period of 2005-2009, China is the world’s biggest arms buyer importing 9 per cent of the world’s arms exports followed by India with 7 per cent of the world’s total arms imports. However, India may topple China to become the number one arms buyer due to India’s increasing dependence on foreign acquisitions rather than indigenous production and self reliance.
As per the report, India’s annual arms import doubled from $1.04 billion in 2005 to $2.1 billion in 2009. India’s major capital imports in this period includes 82 Sukhoi-30MKI fighters and T-90 tanks from Russia and an A-50/Phalcon Airborne Early Warning (AEW) system integrated by Israel.
As for the major Indo-US deals,  India has also acquired C-130J Super Hercules transport aircraft for $1.1 billion and the $2 billion acquisition of P8I long-range maritime patrol aircraft from the US, but these acquisitions will be factored in the next five year report. India has submitted procurement requests to the US for ten C-17 Globemaster airlifters worth an estimated $2.4 billion and for 145 M777 ultralight howitzers worth about $647 million.
According to the SIPRI report, although China remains the top arms buyer, it has become self reliant to a large extent and not many major weapons were acquired lately. For the five-year period under review, China’s annual arms imports declined from $3.5 billion in 2005 to $0.6 billion in 2009.
As for the US, it enjoys the top position in global arms export. For the period of 2005-09, the US accounted for 30 per cent of international weapons sales. This was followed by Russia with 23 per cent of the global market, Germany with 11 per cent, France with 8 per cent and the UK with 4 per cent.

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