Philippine economy

India now world’s biggest arms importer

Rappler.com

India has overtaken China as the world’s biggest arms importer, with analysts predicting it is likely to spend more than US$100-B on weapons in the next 15 years. Asia nations, in fact, are the most aggressive arms buyers, research showed. From 2007 to 2011, for example, India’s business accounted for 10% of the global arms market. The Stockholm International Peace Research Institute also said South Korea was next, accounting for 6% of sales, followed by Pakistan and China (5%) and Singapore (4%).

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