Report released by SIPRI on arms sales

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

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