India offers cheap arms loans, eyes Russian clients

India is ramping up efforts to become a global arms supplier, targeting countries that have traditionally relied on Russian weaponry.

- REUTERS

Prime Minister Narendra Modi’s government is offering long-term, low-cost loans through the state-owned Export-Import Bank (EXIM) to attract new buyers, including nations considered too risky for traditional financing.

This push is part of a larger strategy to transform India into a defense manufacturing hub, adding helicopters, missiles, and battleships to the country's growing exports of iPhones, pharmaceuticals, and ammunition.

India, now the world’s largest arms importer after Ukraine, is increasing its diplomatic footprint with more defense attachés posted in Africa, South America, and Southeast Asia. These officials will help identify potential buyers and promote Indian-made arms directly to foreign governments. Countries like Algeria, Morocco, Guyana, and Cambodia are being targeted for their long-standing defense ties with Russia.