Updated By: LatestGKGS Desk
India becomes 2nd largest purchaser of defence equipments in 2016
India becomes second largest purchaser of defence equipments in world in 2016
As per reports, India is the second largest purchaser of defence goods among the developing nations after South Arabia.
From 2008, India has purchased defence equipments worth $34 billion while South Arabia has purchased $95 billion defence equipments till 2005.
A report was released named as ‘Conventional Arms Transfers to Developing Nations 2008-2015' by Congressional Research Service (CRS)
CRS identifies the efforts to diversify is procurement of arms which the United States has been a major beneficiary.
The pattern of India’s purchases of weapons will likely compete Russia from other major weapon suppliers from India arms market.
It is no longer insured that India will consistency purchase its major combat systems.
