Category
Latest news

India Seeks to Secure Arms Deals With Nations Transitioning Away From Russian Suppliers

2 min read
Authors
Amira_barkhush
Amira Barkhush
Author
India Seeks to Secure Arms Deals With Nations Transitioning Away From Russian Suppliers
Iranian President Masoud Pezeshkian, Indian President Narendra Modi, Russian leader Vladimir Putin and Chinese President Xi Jinping attend the BRICS Leader’s Summit, on October 23, 2024 in Kazan, Tatarstan Republic, Russia. (Source: Getty Images)

India plans to offer its weapons to countries that have long been dependent on Russian arms, Reuters reported on April 16, citing 15 people familiar with the matter.

According to the outlet, Prime Minister Narendra Modi’s vision of transforming India into a global manufacturing hub has already led to the production of billions of dollars’ worth of low-cost iPhones and pharmaceuticals. Now, India aims to produce missiles, helicopters, and battleships.

India, the world’s second-largest weapons importer after Ukraine, is boosting the capabilities of its state-owned Export-Import Bank (EXIM) to provide long-term, low-cost loans. These loans are intended for clients, including those with higher political or credit risks, who might otherwise struggle to secure traditional financing, according to two Indian officials and three industry sources.

New Delhi is also set to sharply increase the number of military attachés in its foreign missions as part of a new initiative that will allow the government to directly negotiate certain arms deals. India is particularly targeting governments that have long relied on Russia for weapons supplies.

India’s plans, outlined to Reuters, represent an unprecedented effort by the government to engage in the recruitment and financing of foreign buyers as the world undergoes a rearmament phase and longstanding geopolitical alliances shift.

“India is marching towards achieving the target of increasing defense exports,” Defense Minister Rajnath Singh wrote on X this month.

The news agency added that while India has long had a firearms manufacturing sector, its private companies have only recently started producing higher-quality ammunition and equipment.

On April 15, Kremlin spokesperson Dmitry Peskov stated that more than 20 heads of state and government, including India, are expected to attend the Victory Day Parade in Moscow on May 9.

See all