The Stockholm International Peace Research Institute (SIPRI) released its Arms Transfers Report 2025 showing India as the world's second-largest arms importer with 8.2% of global arms transfers, behind only Ukraine (9.7%). The top three arms exporters were the USA, France, and Russia.

India received 24% of France's total arms exports and 48% of Russia's. Europe's share of global arms imports rose to 33%. The report underscores India's continued dependence on foreign defence equipment despite the 'Make in India' push in defence manufacturing. India has been diversifying its import sources, with France emerging as a key supplier alongside traditional partner Russia.