New stage in Armenia-India defense partnership: Indian media estimates contracts to be worth nearly $2 billion
YEREVAN, August 18. /ARКА/. Armenia and India are entering a new phase of defense cooperation, which over the past few years has grown from separate arms purchases to military-technical interaction, personnel training, and discussions of joint defense industry projects.
The official visit of Indian Defense Secretary Rajesh Kumar Singh to Yerevan gave new impetus to the relationship.
On August 17, Armenian Defense Minister Suren Papikyan received Singh and praised the progress in bilateral cooperation. The parties discussed defense cooperation, including military-technical cooperation, as well as regional and international security.
That same day, Singh met with First Deputy Defense Minister and Chief of the General Staff of the Armenian Armed Forces Edward Asryan. According to the Armenian Defense Ministry, the two sides exchanged a document defining a new format for cooperation between the general staffs of the armed forces of the two countries. This was the most concrete official result of the current visit.
Times of India: Armenia has become one of the most important clients of the Indian defense industry
Indian media outlets are considering the visit far beyond the official agenda.
On August 18, the Times of India reported that Armenia has become a leading client of Indian defense exports, estimating the volume of commitments to purchase Indian military equipment at nearly $2 billion. The newspaper links the current visit to the preparation of a further roadmap for defense and strategic cooperation.
In a separate, detailed article, the Times of India also estimates the total value of Armenian-Indian defense contracts concluded since 2020 at nearly $2 billion. The publication includes Swathi artillery position detection radars, Akash air defense systems, Pinaka rocket systems, artillery systems, and counter-drone solutions among the systems purchased or ordered.
However, the total figure of nearly $2 billion has not been officially disclosed publicly by the governments of Armenia or India and should be considered solely as an estimate by Indian media.
From the $40 Million Swathi to the Akash and Pinaka
One of the most well-documented early contracts was Armenia's purchase of four Indian Swathi artillery position detection radars.
Indian Defence Research and Development Organisation (DRDO) documents indicate that the agreement was signed in March 2020, valued at $40 million, and that Bharat Electronics Limited was the supplier.
Armenia's subsequent order for Akash air defense systems is estimated to be significantly larger. The Times of India reports that Armenia is the first foreign customer for this Indian system, and estimates the order for 15 systems at approximately $720 million.
Bharat Dynamics Limited, the state-owned manufacturer of Akash missiles, officially confirmed receiving a large export order for this system from a "friendly foreign country," but public corporate documents uncovered by ARKA do not disclose the customer or the value of the Armenian contract. Therefore, the $720 million figure should be considered an Indian media estimate, not the officially disclosed value of the deal.
Another major area of focus was the Pinaka multiple launch rocket system. The Times of India reports on a contract for four batteries and values it at approximately 2,000 crore rupees.
However, back in 2022, the Economic Times described the figure of over 2,000 crore rupees (20 billion Indian rupees) somewhat differently: as the value of a broader package of government contracts, including the Pinaka, missiles, and various ammunition. The publication itself emphasized at the time that the official value of the agreements was not disclosed.
Therefore, attributing the entire 2,000 crore rupees solely to four Pinaka batteries without further qualification would be incorrect.
Artillery contract for $155.5 million
There is another major contract, the size of which is confirmed by a corporate source. India's Bharat Forge announced that its subsidiary Kalyani Strategic Systems received an export order for artillery systems worth $155.5 million. The official disclosure did not identify the customer country.
Business Standard, however, citing sources in the Indian Ministry of Defense, reported that the buyer is Armenia, and the contract concerns mobile 155mm artillery systems.
Thus, the order value of $155.5 million has been confirmed by Bharat Forge itself, while the identification of Armenia as the customer is based on Business Standard's sources in the Indian defense ministry.
Economic Times: Nearly $2 Billion and a Shift to a Broader Partnership
In May 2026, the Economic Times also estimated the total value of Armenia's defense agreements with India at nearly $2 billion since 2020.
The publication listed the Akash, Pinaka, Swathi, and anti-drone systems, but also highlighted another process: cooperation extends beyond the usual arms trade and includes military training, exchanges of delegations, and the expansion of professional contacts.
The scale of the change in the structure of Armenia's arms imports is also confirmed by independent international data.
In April 2025, Reuters, citing the Stockholm International Peace Research Institute (SIPRI), reported that India accounted for 43% of Armenia's arms imports in 2022–2024, compared to close to zero in 2016–2018. Reuters described Armenia as one of the first successful markets for India's new defense export strategy.
However, SIPRI's data reflects transfers of major types of weapons using the institute's own methodology and does not represent a monetary valuation of contracts. SIPRI itself relies primarily on open sources.
Armenia is an important market amid record growth in Indian exports.
Armenia's role is particularly noticeable amid the rapid growth of the entire Indian defense industry.
Back in 2024, Business Standard listed the United States, France, and Armenia as the three main destinations for Indian defense exports. The publication also described Armenia as the largest buyer of finished Indian weapons systems and military equipment, while a significant portion of exports to the United States and France consisted of components and spare parts.
This market continues to grow rapidly. According to official Indian government data, the country's defense exports reached a record INR 38,424 crore in the 2025/26 financial year, an increase of 62.66% year-on-year.
From arms buyer to broader partnership
Official documents show that bilateral cooperation is indeed expanding.
In February 2025, Indian and Armenian Defense Ministers Rajnath Singh and Suren Papikyan discussed increasing the volume of joint military training and the possibility of establishing joint defense industry ventures between the two countries. The Indian government then officially described cooperation as developing simultaneously along military and military-technical lines.
In April 2026, Edward Asryan made an official visit to India, where the two sides agreed to deepen cooperation in a number of professional areas.
Now, Rajesh Kumar Singh's current visit to Yerevan culminated in an exchange of documents defining a new format for interaction between the General Staffs.
Thus, the Indian narrative regarding Armenia's role is gradually shifting. While several years ago the country was primarily considered a new buyer of the Swathi, Pinaka, or Akash systems, today Indian media increasingly describe it as one of the key foreign clients of the national military-industrial complex and a long-term defense partner for India in the South Caucasus.
However, the total contract value of nearly $2 billion, reported in the Times of India and Economic Times, remains an Indian media estimate: a detailed official summary of all Armenian-Indian defense contracts, their value, and the actual volumes of deliveries by the parties has not been publicly disclosed.-0-
