Swedish think tank Stockholm Institute Peace Research Institute (SIPRI) has released a report titled \u201cThe SIPRI Top 100 arms-producing and military services companies, 2020\u201d.<\/span><\/p>\n India\u2019s share of arms sales globally in 2020 was 1.2%.\u00a0<\/span><\/p>\n Three Indian companies are among the world\u2019s top 100 for combined arms sales in 2020. The three were ranked among the top 100 in arms sales in 2019 as well.<\/span><\/p>\n These three companies are Hindustan Aeronautics Limited (HAL), Indian Ordnance Factories, and Bharat Electronics Limited (BEL).\u00a0<\/span><\/p>\n Of these, the Ordnance Factory Board (OFB)<\/a>, which comprised the Indian Ordnance Factories, has been dissolved and seven new Public Sector Undertakings were created in its place.<\/span><\/p>\n Moreover, <\/span>domestic procurement had helped shield Indian companies against the negative economic consequences of the pandemic.<\/span><\/p>\n Note:<\/b> 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.<\/span><\/p>\n International arms sales have increased even as the global economy contracted by 3.1% during the first year of the COVID-19 pandemic.\u00a0<\/span><\/p>\n The USA has the high\u00adest number of companies in the top 100 worldwide. U.S. companies accounted for 54% of the Top 100\u2019s total arms sales in 2020.<\/span><\/p>\n Chinese firms accounted for 13% of the Global Arms sales in 2020 followed by the UK at 7.1 %. Russia and France were fourth and fifth with 5 % and 4.7 % respectively\u00a0<\/span><\/p>\n Source:<\/b> This post is based on the article \u201c<\/span>Three Indian companies among top 100 in arms sales globally<\/b>\u201d <\/b>published in<\/span> Indian Express on 8th December 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? Swedish think tank Stockholm Institute Peace Research Institute (SIPRI) has released a report titled \u201cThe SIPRI Top 100 arms-producing and military services companies, 2020\u201d. What are the key findings of the report? Findings Related to India India\u2019s share of arms sales globally in 2020 was 1.2%.\u00a0 Three Indian companies are among… Continue reading Three Indian companies among top 100 in arms sales globally<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,1738,1305,9],"tags":[10500],"class_list":["post-151941","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-science-and-technology-daily-factly-articles","category-index-reports-bodies","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704745615},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/151941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=151941"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/151941\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=151941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=151941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=151941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What are the key findings of the report?<\/b><\/h5>\n
Findings Related to India<\/b><\/h6>\n
Other Key Findings<\/b><\/h6>\n