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The business of war: Of profits, power, deepening arms spiral and global insecurity

By Vikas Meshram*  
Today, the reality is that the entire world stands atop a heap of gunpowder created by the proliferation of weapons. An intense global arms race is underway. The United States, which often prides itself on being a champion of democracy, is the world’s largest exporter of arms, followed by Russia. Countries such as France, China, Germany, Italy, the United Kingdom, Spain, South Korea, and Israel are also among the leading arms exporters.
The global arms trade is a massive industry that has existed for centuries. Every year, weapons worth billions of dollars are bought and sold across the world. Statistics indicate that in 2021 alone, the global arms trade was valued at approximately $127 billion. Arms-exporting countries continue to earn enormous revenues annually from this trade.
According to the Stockholm International Peace Research Institute (SIPRI), India was the world’s largest arms importer during 2019–2023, marking an increase compared to 2014–2018. Data also shows that among the top ten arms importers, nine countries—including India, Saudi Arabia, and Qatar—are from Asia and the Middle East. Following large-scale arms transfers from over 30 countries during 2022–2023, Ukraine has emerged as the fourth-largest arms importer globally.
It is also noteworthy that European countries nearly doubled their arms imports between 2014–2018 and 2019–2023. During the same period, the United States increased its arms exports by 17%, while Russia’s exports declined by nearly half, placing it behind France. The growing rivalry among major powers such as the United States, Russia, and China continues to drive the expansion of the global arms trade.
Today, the arms industry is expanding rapidly across the world. India, too, is now among the top 25 arms-producing countries. Between 2015 and 2019, India was the second-largest arms importer. In the financial year 2023–24, India produced defence equipment worth ₹1.27 lakh crore, nearly 2.7 times higher than in 2014–15. The central government aims to increase defence exports to ₹50,000 crore by 2029.
However, this relentless arms race has brought the world dangerously close to destruction. In the Russia–Ukraine war, Ukraine has reportedly lost around 18% of its territory over three years. The conflict has led to thousands of deaths, the displacement of millions, and massive destruction. Estimates suggest that the war has caused economic losses worth tens of trillions of rupees.
War pushes nations backward, making recovery extremely difficult. It results not only in economic and human losses but also in severe environmental damage and ecological disruption. Similarly, the conflict in Israel has reportedly caused losses of approximately $67.57 billion, diverting resources from essential sectors such as health and education. In Gaza and the West Bank, investments worth around $50 billion have been destroyed.
Disarmament refers to the reduction, limitation, or elimination of weapons, often in relation to a country’s military capabilities or specific weapon systems. It is fair to argue that disarmament can help curb the arms race and reduce threats to humanity. Only through sustained disarmament efforts can the suffering of civilians be minimized, the risk of nuclear war reduced, and global peace and security strengthened.
The International Day for Disarmament and Non-Proliferation Awareness, observed annually on March 5, serves as a reminder of the persistent dangers posed by weapons of mass destruction. It underscores the urgent need to promote disarmament and prevent the spread of nuclear weapons. This observance is not merely symbolic; it is a call to action for governments, international organisations, and civil society to work collectively towards a world free from the shadow of nuclear conflict.
Since its establishment, the United Nations has placed multilateral disarmament and arms control at the core of its mission to maintain international peace and security. Weapons of mass destruction, particularly nuclear weapons, remain a major concern due to their catastrophic potential.
The excessive accumulation of conventional weapons, along with the illicit trade in small arms and light weapons, continues to threaten global peace, security, and sustainable development. The use of explosive weapons in populated areas poses grave risks to civilians, while emerging technologies such as autonomous weapons systems further complicate global security challenges.
In 1946, shortly after the atomic bombings of Hiroshima and Nagasaki—which killed over 200,000 people—the United Nations General Assembly established a commission to address issues arising from nuclear energy. This marked the beginning of the UN’s long-standing commitment to disarmament, embedded in its charter to protect future generations from the horrors of war.
The threat of nuclear war remains one of the gravest dangers facing humanity. The use of nuclear weapons would result in unimaginable destruction and massive loss of life. A single nuclear explosion in a densely populated area could kill millions instantly and expose many more to radiation-related illnesses. The environmental consequences would be equally catastrophic, including widespread fires, contamination of water sources, and the destruction of ecosystems.
Over the decades, the international community has taken several steps to promote disarmament and non-proliferation through treaties and agreements. The Nuclear Non-Proliferation Treaty (1968) remains a cornerstone of global efforts. The Comprehensive Nuclear-Test-Ban Treaty (1996) seeks to prohibit all nuclear explosions, while the Treaty on the Prohibition of Nuclear Weapons (2017) aims at the complete elimination of nuclear arms. Bilateral agreements such as the New START Treaty between the United States and Russia have also attempted to limit deployed strategic nuclear weapons.
Despite these efforts, progress has been slow, and much remains to be done to achieve meaningful disarmament. According to the United Nations, approximately 12,400 nuclear weapons still exist worldwide.
The horrors of chemical warfare were starkly revealed during World War I, when over 124,000 tonnes of chemical agents were used, resulting in nearly 100,000 deaths and millions of injuries.
The United Nations has noted that the cost of a single warship could provide malaria treatment for 26,000 people, highlighting the urgent need to redirect global resources towards human development rather than warfare.
Ultimately, this global observance provides a platform for collective action, encouraging international cooperation on disarmament and non-proliferation. By raising awareness and fostering dialogue, it contributes to building a safer and more peaceful world.
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*Freelance journalist 

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