"India was the world's top arms importer. Its arms imports increased by 4.7 per cent between 2014-18 and 2019-23," the think-tank said in a statement.
"Although Russia remained India's main arms supplier (accounting for 36 per cent of its arms imports), this was the first five-year period since 1960-64 when deliveries from Russia (or the Soviet Union before 1991) made up less than half of India's arms imports," it said.
According to the report, Pakistan significantly increased its arms imports (43 per cent).
Pakistan was the fifth largest arms importer in 2019-23 and
Arms imports by two of China's East Asian neighbours increased, Japan's by 155 per cent and South Korea's by 6.5 per cent, it said.
China's own arms imports shrank by 44 per cent, mainly as a result of substituting imported arms -- most of which came from Russia, with locally produced systems.
"There is little doubt that the sustained high levels of arms imports by Japan and other US allies and partners in Asia and Oceania are largely driven by one key factor: concern over China's ambitions," said
"The US, which shares their perception of a Chinese threat, is a growing supplier to the region," it said.
Thirty per cent of international arms transfers went to the
Three Middle Eastern states were among the top 10 importers in 2019-23: Saudi Arabia, Qatar and Egypt.
Saudi Arabia was the world's second-largest arms importer in 2019-23, receiving 8.4 per cent of global arms imports in the period, the SIPRI said.
Saudi Arabian arms imports fell by 28 per cent in 2019-23, but this was from a record level in 2014-18.
Qatar increased its arms imports almost fourfold (396 per cent) between 2014-18 and 2019-23, making it the world's third biggest arms importer in 2019-23, according to the report.