Indian military imports steadily declining

(MENAFN – Trends News Agency)

India’s military equipment imports have been steadily declining for the past few years, thanks to the country’s new procurement policy which places greater emphasis on “Made in India”, reports Trend.

The share of imports in the overall acquisition of military equipment is falling, according to government data. The acquisition is made within the framework of the “capital budget”, which is intended for payments against weapons, equipment, planes, helicopters, etc.

Tabled in Parliament, the data shows that imports accounted for 39-40% of all acquisitions in the 2014-2015 fiscal year. The numbers have been falling for two years. In the fiscal year ending March 31, 2021, imports amounted to 36%, a figure that dropped slightly to 35.28% as of March 31, 2022.

In 2018-2019, imports reached 48.68%, likely due to payments made for Rafale fighter jets, high-value items such as surveillance aircraft and other emergency purchases.

In March this year, the Swedish think tank Stockholm International Peace Research Institute (SIPRI) released its assessment, “Trends in International Arms Transfers-2021”, for the five-year period from 2017 to 2021. The report pointed out that “India was the largest importer of arms and military equipment in the world and accounted for 11% of total global arms imports during the period”.

The report also contained good news. A comparison of two five-year blocks showed that Indian arms imports fell by 21% in 2017-21 compared to 2012-16.

Friendly nations have been advised that the production of military platforms, weapons and ammunition should be done in India even with the security of the country in mind.

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