India is rapidly moving towards self-reliance in manufacturing military weapons. They are doing this under the 'Make in India' campaign, As a result of this, 3 companies of India have made place in the top 100 companies of the world. According to the report Hindustan Aeronautics Limited, Bharat Electronics Limited and Indian Ordnance Factories have been included in the top 100 companies.
America is at the top in manufacturing military equipment. The SIPRI report states that the United States (US) has the highest number of 41 companies among the top 100 companies. Overall, their arms sales stood at $285 billion, a 1.9% increase from 2019.
5 companies from China are included in the top 100. According to the report, the total arms sales of these companies stood at $66.8 billion in 2020, which is 1.5% more than in 2019. According to the report, China accounts for 13% of the total top 100 arms sales.
Home buying has helped shield Indian companies from the negative economic consequences of the pandemic. In 2020, the Indian government announced a ban on the import of more than 100 military equipment to support domestic companies and increase self-reliance in weapons production.
