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The following three Indian defence PSUs are among the top 100 arms-producing companies: Hindustan Aeronautics, Bharat Electronics, Mazagon Docks.
The US dominates the list, but its revenues fell by 7.9%. Asian arms companies, including those in China and India, benefited from sustained government investment in military modernization.
In SIPRI’s ‘Top 100’ list, these 3 Indian companies were named:
Hindustan Aeronautics Limited (HAL)
Bharat Electronics Limited (BEL)
Mazagon Docks
The combined arms sales of these six companies grew by 0.4 per cent to reach $17.8 billion in 2021.
HAL was ranked 41st with $3.4 billion in arms sales, BEL 63rd with $1.9 billion and MDL 89th with $1 billion, all three benefitting from the major orders placed by the 14-lakh strong Indian armed forces. But the three together accounted for just a paltry 1% of the $597 billion global arms sales last year.
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