Although India’s reliance on Russia has been declining, Russia still accounts for most of India’s arms imports
Topics
Russia | arms deal | NATO
Ishaan Gera
Last Updated at February 26, 2022 01:52 IST
India will remain shielded from any trade impact
On Thursday, as Russia declared an incursion into Ukraine, European countries and allies of the North Atlantic Treaty Organization (NATO) announced they would impose more sanctions. US President Joe Biden also threatened more sanctions against Russia in a televised address.
Although India’s reliance on Russia has been declining, Russia still accounts for most of India’s arms imports. A Business Standard analysis of data from Stockholm International Peace Research Institute (SIPRI) shows 49.4 per cent of India’s arms imports between 2016 and 2020 were from Russia, and 0.5 per cent were from Ukraine. In the previous five years, between 2011-15, Russia accounted for 69.6 per cent of India’s total arms imports.
In 1996-2010, the share was 70 per cent.
India will remain shielded from any trade impact. Russia accounts for only a negligible trade from India, both exports and imports.
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First Published: Sat, February 26 2022. 01:52 IST
Although India’s reliance on Russia has been declining, Russia still accounts for most of India’s arms imports Topics Russia | arms deal | NATO Ishaan Gera Last Updated at February 26, 2022 01:52 IST India will remain shielded from any trade impact On Thursday, as Russia declared an incursion into Ukraine, European countries and allies of the North Atlantic Treaty Organization (NATO) announced they would impose more sanctions. US President Joe Biden also threatened more sanctions against Russia in a televised address. Although India’s reliance on Russia has been declining, Russia still accounts for most of India’s arms imports. A Business Standard analysis of data from Stockholm International Peace Research Institute (SIPRI) shows 49.4 per cent of India’s arms imports between 2016 and 2020 were from Russia, and 0.5 per cent were from Ukraine. In the previous five years, between 2011-15, Russia accounted for 69.6 per cent of India’s total arms imports. In 1996-2010, the share was 70 per cent. India will remain shielded from any trade impact. Russia accounts for only a negligible trade from India, both exports and imports. Dear Reader, Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed. Support quality journalism and subscribe to Business Standard. Digital Editor First Published: Sat, February 26 2022. 01:52 IST