A new SIPRI report shows India’s top three defence manufacturers - HAL, BEL and MDSL - posted an 8.2 per cent rise in arms revenues last year. The global list also highlights growing defence spending across the US, Europe and Asia.
Global arms manufacturers reported record sales in 2024 as conflicts in Ukraine and Gaza and rising defence spending pushed worldwide revenue to USD 679 billion, SIPRI said. The strongest gains came from US and European firms, while China’s slowdown pulled Asia’s numbers down.
The findings come at a time when India and China are caught up in a standoff along the Line of Actual Control (LAC) in eastern Ladakh.
The defence ministry has had four ministers in five years.
For more than the last eight years, India was the largest arms importer in the international market.
The Stockholm International Peace Research Institute (SIPRI) report says that Russia accounted for 58 per cent of total Indian arms imports in 2014-2018, compared with 76 per cent in 2009-2013.
The report released on Monday said Pakistan now has 140-150 nuclear warheads as compared to 130-140 of India; China possesses some 280 nuclear warheads
Pakistan continues to be ahead of India when it comes to possessing nuclear warheads, with China having double the quantity,…
Global arms sales increased for the first time in five years in 2016 as rising geopolitical tensions fuelled defence spending,…
India's military expenditure grew around 8.5 per cent in 2016, making it the world's fifth largest spender at $55.9 billion,…
