Three Indian companies among top 100 in arms sales globally

Contact Counsellor

Three Indian companies among top 100 in arms sales globally

  • Three Indian companies are among the world’s top 100 for combined arms sales in 2020, said a new report by the Stockholm International Peace Research Institute (SIPRI), which tracks global arms trade.
  • The three are: Hindustan Aeronautics Limited (HAL), Indian Ordnance Factories, and Bharat Electronics Limited (BEL).
  • The three were ranked among the top 100 in arms sales in 2019 as well.

Key facts from report

  • Sales of arms and military services by the industry’s 100 largest companies totalled $531 billion in 2020—an increase of 1.3 per cent in real terms compared with the previous year.
  • The arms sales of the Top 100 arms companies in 2020 were 17 per cent higher than in 2015—the first year for which SIPRI included data on Chinese firms.
  • This marked the sixth consecutive year of growth in arms sales by the Top 100.
  • Topping the list is the United States of America hosted the highest number of companies (41).
  • China, according to SIPRI, stands at number two to the US in terms of manufacturing military equipment, arms and weapons.

India’s arms sale

  • India’s share of arms sales globally in 2020 was 1.2 per cent.
  • The report noted that for the three Indian companies in the top 100 “their aggregated arms sales of $6.5 billion were 1.7 per cent higher in 2020 than in 2019” and accounted for 1.2 per cent of the top 100 total.
  • Domestic procurement has helped to shield Indian companies against the negative economic consequences of the pandemic.
  • In 2020, the Indian Government announced a phased ban on imports of more than a hundred different types of military equipment to support domestic companies and enhance self-reliance in arms production.

About Stockholm International Peace Research Institute (SIPRI)

  • SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
  • Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
  • Based in Stockholm, SIPRI is regularly ranked among the most respected think tanks worldwide.