The Business of War: Should India Join the Arms Race?

As global tensions rise, one sector continues to thrive in the shadows: the arms industry. In 2024, the world spent over $2.4 trillion on military expenditure, marking a new record. Even as nations invoke the language of diplomacy and peace, they invest heavily in war-making capability, which is often far beyond what defense alone would demand.

In this increasingly militarized world economy, India finds itself at a crossroads.

Long dependent on foreign arms, we are now pushing aggressively toward self-reliance. New policies, new partnerships, and a burgeoning domestic defense sector suggest that India may not just want to protect itself but to participate in, and potentially profit from, the global arms trade.

And yet, the dilemma is stark. Can a nation that once championed non-alignment and moral leadership afford to become a stakeholder in the business of conflict? Can India militarize without compromising the ideals that set it apart?

This is not simply a question of economics or geopolitics. It is a deeper question about the kind of power India wants to become.

The Global War Economy

There is a silent paradox in modern geopolitics. Peace is pursued not through pacifism, but through firepower. The major players, such as the United States, Russia, China, France, and Israel, have built powerful militaries and even more powerful defense industries that feed on global insecurity.

From fighter jets and hypersonic missiles to drones, AI surveillance, and cyberweapons, national defense has become a full-scale business. War is no longer an unfortunate consequence. It is part of an economy. Private contractors, venture-funded startups, and multinational corporations make war scalable, predictable, and profitable.

India’s Crossroads: Between Strategy and Complicity

India is already the world's largest arms importer. But the equation is changing. With initiatives like Atmanirbhar Bharat and rising strategic tensions with China and Pakistan, India is building the capability to arm not only itself but also others.

On the surface, this seems prudent. Strategic autonomy. Job creation. Technological advancement. Global influence. But there’s another side.

The more India becomes a producer, the more it will be pressured to become a seller. And arms exports are rarely value-neutral. They carry ethical, geopolitical, and humanitarian implications. To sell weapons is to risk seeing them used in ways that contradict your values, or worse, fuel conflicts that you never meant to be part of. This is the tightrope India must walk.

What Kind of Superpower Does India Aspire To Be?

Our history offers a clue. India’s international identity has been shaped not just by strength, but by restraint. From Nehru’s non-alignment to Vajpayee’s nuclear maturity to Modi’s pitch for global South solidarity, India has always projected power with a moral filter.

If we cross fully into the arms race, not just in capacity, but in commerce, do we risk becoming just another player in this dirty game? Are we prepared to arm regimes with questionable records? To supply tools of destruction for conflicts we neither started nor endorsed? To compete with nations that have normalized profit from violence?

The question is not whether India has the capacity. It is whether it has the conviction to pursue power differently.

A New Paradigm: Preparedness Without Profit Motive

We must be militarily strong. That is not up for debate. But strength does not require complicity.

India can:

 Build high-grade, indigenous defense capabilities for self-use.

 Focus on dual-use technologies such as space, cyber, and AI that advance both national security and civilian infrastructure.

 Offer peacekeeping, surveillance, and logistical support in volatile regions instead of weaponry.

 Lead efforts in global arms regulation, especially in the developing world.

In short, India can be strong without becoming a supplier of violence.

The business of war promises power, profit, and prestige. But it rarely leaves a nation’s soul untouched. India has a decision to make, not just about defense policy, but about destiny. We can become a global arms powerhouse. But we must ask: at what cost?

The real race is not to out-arm the world. It is to outthink it.

(The writer is a seasoned Banker and Mortgage Specialist working for India’s largest loan distributor company and covers financial policy, digital services, and public infrastructure in India.)