HAL, BEL ride government orders, find place in SIPRI’s list of top 100 global arms making cos | India News

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NEW DELHI: There is no business like the arms business. Despite the Covid pandemic and global supply chain disruptions, the sales of weapons and military services by the 100 largest armament firms in the world reached $592 billion in 2021, a 1.9% increase compared with 2020 in real terms.
This is the seventh consecutive year of rising global arms sales. Two Indian defence PSUs, Hindustan Aeronautics (HAL) and Bharat Electronics (BEL), figure in the list of the top 100 arms-producing companies released by Swedish think-tank Stockholm International Peace Research Institute (SIPRI) on Monday.
Both HAL (ranked 42nd with $3.3 billion arms sales) and BEL (63rd with $1.8 billion) have benefitted from the major orders placed by the 1.4-million strong Indian armed forces. The two together, however, accounted for a negligible 0.8% of the $592 billion global arms sales last year.
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