Revenues of India’s top three defence companies rose by 8.2%: SIPRI Report

New York: The arms revenues of the three top Indian companies producing defence equipment rose by 8.2 per cent to $7.5 billion last year, according to the Stockholm International Peace Research Institute (SIPRI).

The Top 100 international list of arms producers released on Monday by SIPRI, the premier institution monitoring international arms manufacturing and trade, features only three Indian companies: Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), and Mazagon Dock Shipbuilders Limited (MDSL).

SIPRI said that HAL remained India's biggest defence producer, with arms revenue of $3.8 billion.

It ranked 44 in the SIPRI list of Top 100 arms manufacturers, down from 42 in 2023, with its revenue slipping by 0.3 per cent.

HAL produces a range of aviation and space products, many of which are for civilian use.

Of its total revenues of $4 billion, the SIPRI report said 95 per cent came from arms, and only those were considered for the Top 100 list.

BEL, India's second biggest defence producer, recorded the biggest revenue increase among the three Indian companies in the Top 100 list, a rise of 23.6 per cent from 2023 to $3.8 billion last year. (IANS)

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