Explanation:

With tensions escalating between Russia and the West over the Ukraine crisis, India, which has major defence cooperation with Moscow and Kyiv, faces uncertainty over timely deliveries in the near future in addition to the lingering threat of the U.S. sanctions under CAATSA (Countering America’s Adversaries Through Sanctions Act) over the S-400 deal.

• Russia is the second largest arms exporter in the world, following only the United States. In the five-year period between 2016 and 2020 America’s share in the global arms trade was 37 per cent, compared to 20 per cent of Russia’s, as per the Stockholm International Peace Research Institute (SIPRI), which tracks the global arms trade and military expenditure.
• For Russia, India is the largest importer, and for India, Russia the largest exporter when it comes to arms transfer.
• Between 2000 and 2020, Russia accounted for 66.5 per cent of India’s arms imports. Of the $53.85 billion spent by India during the period on arms imports, $35.82 billion went to Russia.
• During the same period imports from the US were worth $4.4 billion, and from Israel it was worth US$ 4.1 billion.
• Russia’s share in Indian arms imports was down to about 50 per cent between 2016 and 2020, but it still remained the largest single importer.

Hence option 1st is correct.