New Delhi, June 23 -- Traditionally heavily reliant on foreign suppliers for defence equipment, India has significantly reduced its dependence on defence imports over the last 14 years, marking a major shift in its defence strategy and policy.

According to a report by Kotak Mutual Fund, India, which in 2010 was the largest importer of defence equipment, slipped to fourth place in 2024.

In 2010, India accounted for 11 per cent of the world's total defence imports, making it the top importer globally. Pakistan, with 9 per cent, Australia, at 6 per cent, and South Korea, at 5 per cent, followed suit.

Countries like Saudi Arabia, the United States, Singapore, and China each had a 4 per cent share, while Algeria and Portugal accounted for 3...