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NEW DELHI: India’s arms imports are expected to touch $30 billion by 2012 even as the country’s domestic defense market is poised to grow to $700 millionĀ  in five years, according to an industry lobby report. India is currently the world’s largest importer of defense articles with its armed forces buying over $6 billion worth of military hardware every year.

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NEW DELHI: India's arms imports are expected to touch $30 billion by 2012 even as…