India has emerged as a major exporter of ammunition and other weapons to Europe since the outbreak of the Ukraine-Russia war, but analysts caution that New Delhi has yet to secure a lasting foothold in Europe’s defence market.
Defence Secretary Rajesh Kumar Singh cited a Bloomberg report last Friday stating that India had become the third-largest arms exporter to Europe under the “ReArm Europe” initiative – also known as Readiness 2030 – largely because of ammunition demand.
Bloomberg, citing Trade Data Monitor data sourced from India’s Ministry of Commerce and Industry, reported that Indian arms manufacturers had exported about US$872 million worth of ammunition, including artillery shells, mortar shells, propellant and explosives, to European countries since the Ukraine war began.