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09 Dec 2021 Stockholm International Peace Research Institute (SIPRI)

Posted at 12:26h in Daily current-affairs by khyati khare 0 Comments

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According to a report by the Stockholm International Peace Research Institute (SIPRI), which tracks the global arms trade, three Indian companies are among the top 100 companies in the world in terms of combined arms sales in 2020.
These are three Indian companies- ‘Hindustan Aeronautics Limited’ (HAL), ‘Indian Ordnance Factories’ and ‘Bharat Electronics Limited’ (BEL).
In the year 2019 also, these three were ranked in the top 100 in terms of arms sales.

It is an independent international institution dedicated to research in conflict, armaments, arms control and disarmament.
The Stockholm International Peace Research Institute, established in 1966 in Stockholm, provides open source data, analysis and recommendations to policy makers, researchers, the media and the interested public.

Top countries

The United States has the largest number of companies in the top 100 companies worldwide. US arms sales during this period stood at US$ 285 billion, a 1.9% increase over the year 2019.
China was second with 13%, followed by the United Kingdom (7.1%).
Among the top 100 companies in terms of combined arms sales, Russia and France were ranked fourth and fifth with 5% and 4.7%, respectively.

Indian Companies:

Indian Ordnance Factory ranks 60th with sales of US$1.9 billion, an increase of 0.2% over the previous year.
HAL ranks 42nd with USD 2.97 billion, which is 1.5% higher than the year 2019 sales.
BEL ranks 66th with US$ 1.63 billion in arms sales, up 4% compared to 2019.
India’s share in global arms sales in the year 2020 was 1.2%. Their total arms sales of US$6.5 billion were up 1.7% in 2020 compared to 2019, accounting for 1.2% of the world’s top 100 companies.

Home buying has helped protect Indian companies from the negative economic consequences of the pandemic.
In the year 2020, the Government of India announced a phased ban on the import of more than 100 different types of military equipment to help domestic companies and increase self-reliance in weapons production.