India Becomes Second Largest Defense Importer

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
India Becomes Second Largest Defense Importer

© Thinkstock

The largest defense importer this year was Saudi Arabia. The second was India, which raises the question of why it needs to so many weapons. Saudi Arabia’s need is much easier to understand.

According to the Global Defence Trade Report from IHS, Saudi Arabia’s imports will total $10.1 billion this year. India’s will be $4.0 billion.

India’s spending is for protection from Pakistan, an illustration of what a country might do to protect its borders. And the India plan may not work, which means it will maintain its weapons purchasing pattern for some time.

Based on an analysis covered in New Zealand News:

According to Petr Topychkanov, Associate at the Carnegie Moscow Centre’s Non-Proliferation Programme, despite heavy investments in developing BMD systems, India may not be able to fully defend itself in a conflict from strikes by Pakistani missiles. “Even in 10 years and with the huge budgets that India plans to spend on the development of nuclear weapons and capabilities, it is difficult to imagine it will be able to defend its territory from possible strikes from Pakistan in case of conflict,” he says.

This argues that India’s spending is too modest.

[nativounit]

From the IHS report:

Capture

Capture2

[wallst_email_signup]

Methodology: The report examines trends in the global defense market across 65 countries and is based on 40,000 programs from the IHS Aerospace, Defence & Security’s Markets Forecast database.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

HPE Vol: 153,197,465
ENPH Vol: 8,360,053
GLW Vol: 18,152,646
APTV Vol: 6,761,325

Top Losing Stocks

TTD Vol: 21,905,513
INTU Vol: 7,383,018
CTRA Vol: 73,319,495
CBOE Vol: 5,000,011
HP
HPQ Vol: 29,259,826