New Delhi: Three companies from India have been included in the top 100 global companies making arms, weapons, military planes, and equipment.
India’s Hindustan Aeronautics Limited (HAL), Ordnance Factory Board (OFB), and Bharat Electronics Limited (BEL) have made their way in the report of Stockholm International Peace and Research Institute (SIPRI). Ranking 12th in the total arms purchases in the world and the total share is 1.2%.
The US ranks first with 54% and China is second with 13%. England is in third and Russia in fourth place.
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According to the SIPRI report, the US accounts for 54% of the total arms trade globally. China’s participation is 13%, England’s is 07, and Russia’s is 05%. South Korea and India have an equal share (1.2%).
According to the SIPRI report for the year 2020, Hindustan Aeronautics Limited (HAL) is ranked 42nd in the list of the world’s 100 largest arms companies, Ordnance Factory Board (OFB) is at 60th and Bharat Electronics Limited (BEL) is at 66th position .
“Their aggregated arms sales of $6.5 billion (approx Rs 48,750 crore) were 1.7 per cent higher in 2020 than in 2019,” said the report, adding that “it accounted for 1.2 per cent of the Top 100’s total (sales)”.
The report mentions that despite the Coronavirus pandemic, the global arms market has been flourishing as there has been no decrease in the arms trade worldwide. Rather there was an increase of 1.3% as compared to 2019.
According to the report, issue a negative report, 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.
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