Report released by SIPRI on arms sales
Recently the report on arms sales has been released by the Stockholm International Peace Research Institute (SIPRI).
- According to the report, 3 Indian companies (Hindustan Aeronautics Limited, Indian Ordnance Factories and Bharat Electronics Limited) accounted for 1.2% of global arms sales in the year 2020. Companies in the United States top the list with $285 billion, or 54% of total arms sales.
- It is followed by China (13%) and the UK (7.1%). In the year 2020, India announced a phased ban on imports of over a hundred different types of military equipment to support domestic companies and increase self-reliance in weapons production.
- SIPRI is an independent international institution. It is dedicated to research into conflict, armament, arms control and disarmament.
Source – The Hindu