According to the report, India accounted for 11% of the global share of arms imports between 2018 and 2022, followed by Saudi Arabia (9%), Qatar (7%), Australia (6%) and China (5%). The top five importers together received about 38% of all major arms transfers in that period. The report also noted that India's arms imports declined by 11% compared to the previous five-year period (2013-2017), mainly due to delays and cancellations of some contracts.
The report revealed that Russia remained the largest supplier of major arms to India, accounting for 45% of India's total imports between 2018 and 2022. However, this was a significant drop from the previous five-year period, when Russia supplied 62% of India's imports. France emerged as the second largest supplier to India with a share of 29%, followed by Israel (10%), Germany (4%) and South Korea (3%). The US slipped from being the second largest supplier in 2013-2017 to the sixth largest in 2018-2022 with a share of only 2%.
The report attributed India's high demand for arms imports to its perceived security threats from neighboring countries such as Pakistan and China, as well as its ambitions to modernize its military capabilities and become a regional power. The report also highlighted some of the major arms deals that India signed or received deliveries of between 2018 and 2022, such as:
- The purchase of 36 Rafale fighter jets from France for $9 billion
- The acquisition of five S-400 air defense systems from Russia for $5 billion
- The delivery of four Scorpene-class submarines from France under a $4 billion contract
- The procurement of two Phalcon airborne early warning systems from Israel for $1 billion
- The receipt of four P-8I maritime patrol aircrafts from the US under a $1 billion deal
The report also pointed out some of the challenges that India faced in acquiring foreign weapons systems, such as:
- Technical glitches and cost overruns in some projects
- Regulatory hurdles and bureaucratic delays in approving contracts
- Political pressures and corruption allegations in some deals
- Dependence on foreign suppliers for spare parts and maintenance
- Compatibility issues with existing platforms and systems
The report suggested that India could reduce its reliance on arms imports by enhancing its domestic defense industry and increasing its indigenous production capacity. It also recommended that India should pursue more joint ventures and collaborations with foreign partners to acquire advanced technologies and skills.
The report concluded that India is likely to remain one of the world's largest arms importers in the near future, given its strategic interests and security challenges. However, it also cautioned that India should balance its military spending with its social development needs and ensure transparency and accountability in its defense procurement process.