The reason why India buys arms everywhere is mainly because their military industry system is so rubbish that there is no way to meet the needs of the Indian army. The industrial base is weak and the garbage production level is high, because most weapons are not self-sufficient. The second reason is that India itself has many problems, such as the India-Pakistan conflict, such as the Kashmir issue, which all require India to possess certain advanced weapons. The third reason is that India is ambitious and wants to become a world superpower. I hope that one day, the world will shake with a loud noise.
Poor India also buys US Treasury bonds. India's purchase of US Treasury bonds has both economic and political considerations. If India wants to grow, it must be integrated into the global trading system. If you want to integrate into this system, you can't do it without a certain amount of foreign exchange reserves and US Treasury bonds. At present, India's foreign exchange reserves are about 400 billion US dollars, of which US Treasury bonds are 654.38+040 billion. This money is not as good as that of a small country like Ireland, which bought more than 300 billion US Treasury bonds.
Compared with the parsimony of buying US Treasury bonds, India is much more generous in buying weapons on defense spending. For example, this year, they spent more than $26 billion on weapons. This is a relatively high proportion. This proportion occupies a large amount of government budget, which is not conducive to the development of India's national economy. This is also one of the reasons why India's economic development is slow.