INDIA SURPASSES RUSSIA IN IMPORTING ARMS WORTH CRORES DURING 2018-2022
DEFENSE INDUSTRY OF INDIA Defense is one of the crucial prerequisites that a country needs to protect itself and its people from overseas attacks or invasions. In the current scenario, the Global market for defense personnel is on the rise and already has a significant contribution to the Global Trade Data which is yet to grow and is expected to touch USD 2 trillion by 2026. Now, let’s focus on the Indian Defense Industry statistics. The defense or military sector of India is one of the most important and prominent sectors of the nation. India is equipped with the world’s largest, biggest, and most powerful military forces that include almost 1.45 million active and trained soldiers, personnel, and backup forces. Every year India sets a budget that is solely dedicated to the Indian brave soldiers and defense sector which was INR 4.8 lakh Crores in the year 2021 which roughly translates to USD 60 billion. With this, the defense sector budget of India becomes the World’s third most ...