According to a new report released by the Swedish think-tank Stockholm International Peace Research Institute (SIPRI), three Indian companies are among the world’s top 100 for combined arms sales in 2020, which tracks global arms trade.
Context
According to a new report released by the Swedish think-tank Stockholm International Peace Research Institute (SIPRI), three Indian companies are among the world’s top 100 for combined arms sales in 2020, which tracks global arms trade.
Key-highlights
- The US has the highest number of companies in the top 100 worldwide. Together, their arms sales amounted to USD 285 billion, an increase of 1.9 % compared with 2019.
- China was second at 13 %, followed by the UK at 7.1 %.
- “With a 13 per cent share of total Top 100 arms sales, Chinese arms companies had the second highest volume of aggregated arms sales in 2020, behind US firms and ahead of British companies.
- Russia and France were fourth and fifth with 5 % and 4.7 % respectively of the combined arms sales for the top 100 companies.
India’s Ranking
- HAL is at number 42 with US$ 2.97 billion, up 1.5 per cent from 2019 sales.
- Indian Ordnance Factories are at the 60th spot, with US$ 1.9 billion in sales, up 0.2 per cent from the previous year.
- BEL is ranked 66, with US$ 1.63 billion in arms sales, up 4 per cent compared to 2019.
Stockholm International Peace Research Institute (SIPRI)
- SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
- It was established in 1966 at Stockholm.
- SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
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