Saudi Arabia has now become the largest importer of arms in the world, having pushed India to the second spot, according to the premier Stockholm International Peace Research Institute (SIPRI).
In its report on ’Trends in International Arms Transfers 2018’ released on Monday, the institute identified Saudi Arabia, India, Egypt, Australia and Algeria as the five top arms importing countries and the United States, Russia, France, Germany and China as the five top arms exporting nations.
For more than the last eight years, India was the largest arms importer in the international market. It has been among the top five arms importing countries for decades, thanks to the strategic threat it faces from Pakistan and China.
The US, Russia, France, Germany and China together accounted for 75 per cent of the total volume of arms exports in 2014–18.
Indian arms imports decreased by 24 per cent between 2009–13 and 2014–18, report The Statesman.