Reports of Global Arms Trade: SIPRI
- 08 Dec 2021
- 2 min read
Why in News
According to a report by Stockholm International Peace Research Institute (SIPRI), which tracks global arms trade, three Indian companies are among the world’s top 100 for combined arms sales in 2020.
- The three Indian companies 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.
The Stockholm International Peace Research Institute
- The SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament.
- Established in 1966 at Stockholm, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
- Top Countries:
- The USA 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 %.
- Russia and France were fourth and fifth with 5 % and 4.7 % respectively of the combined arms sales for the top 100 companies.
- Indian Companies:
- Indian Ordnance Factories are at the 60th spot, with USD 1.9 billion in sales, up 0.2 % from the previous year.
- HAL is at number 42 with USD 2.97 billion, up 1.5 % from 2019 sales.
- BEL is ranked 66, with USD 1.63 billion in arms sales, up 4 % compared to 2019.
- India’s share of arms sales globally in 2020 was 1.2 %. Their aggregated arms sales of USD 6.5 billion were 1.7 % higher in 2020 than in 2019” and accounted for 1.2 % of the top 100 total.
- Factors for Increasing India’s Share in Arm Sales:
- 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.