NEW DELHI, February 29. /TASS/. Russia continues to be the largest arms supplier to India with a total value of agreements exceeding 340 billion rupees (more than $5 billion) over the past three years, the Indian Defense Ministry said in a statement on Monday.
According to it, the United States ranks second, with 300 billion rupees (about $4.4 billion) allocated from India’s budget on its military products from 2012-2013 to 2014-2015 fiscal years.
Russia also maintained its leading positions in the number of defense contracts signed with India within this period of time.
“From 2012-2013 to 2014-2015 fiscal years, 162 arms purchase contracts were signed, among them 67 with other countries, including Russia (18 agreements), the United States (13) and France (six),” the defense ministry said.
In India, a fiscal year begins on April 1 and ends on March 31.