State-owned defense manufacturer
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50% partner in HAMMER joint venture
India has depended on Russia for weapons since the Cold War. That dependence peaked at 76% of arms imports in 2009-2013 but has now fallen to 36%—while France has surged to become India's second-largest supplier, accounting for 33% of defense purchases. On February 17, 2026, the two countries signed an agreement to manufacture HAMMER precision-guided missiles in India, marking a shift from France selling finished weapons to both nations building them together.
Updated Feb 17
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