How Losing India's Business Could Ruin Russia's Defense Industry
MIN READJan 27, 2016 | 09:01 GMT
At a military review in New Delhi, Indian armored forces parade T-90M Bhishma main battle tanks, designed for export by Russian tank producer Uralvagonzavod.
India is the world's largest defense importer, accounting for 15 percent of all global imports over the past five years. However, the primary source of these weapons may soon change. Russia has long had privileged access to the Indian market, providing some 70 percent of India's weapons in volume over the last half decade. However, even as India invests heavily in upgrading and modernizing its armed forces, several pending deals between Moscow and New Delhi have stalled....