New Delhi: Be it the Russia-Ukraine war, Israel-Hamas-Israel Hezbollah war, Syrian civil war or the tense situation in the Indo-Pacific region, the whole world may be living in fear, but the fortunes of defense companies have changed. . Defense companies have made huge profits and made a record sale of arms worth a total of $ 632 billion (Rs 54 lakh crore) in the year 2023.
Stockholm International Peace Research Institute (SIPRI) has released the details of the world’s top 100 arms manufacturing companies. According to the data given in it, the revenue of global arms companies has increased by 4.2 percent annually to $ 632 billion in 2023. Notably, this increase reflects significant arms sales amid other conflicts, including the Russia-Ukraine war and rising tensions in the Indo-Pacific region. It would not be surprising if the current figures are also exceeded.
The report highlights the defense production expenditure of major countries America, China and India. Of the top 100 companies, 41 contributed $317 billion, which is 50 percent of the global revenue of defense companies. Compared to 2022, an increase of five percent has been seen.
American arms manufacturers have benefited significantly from supplying weapons to Ukraine or from increased military spending by NATO allies. American companies like Lockheed Martin, Ratio and Northrop Grumman supply cutting-edge weapons like missiles, drones and air defense systems.
China is the second largest contributor to global arms. It owns nine of the world’s top 100 arms companies and has revenues of $103 billion. Talking about India, the revenue of India’s defense equipment has reached 6.7 billion dollars. This shows an increase of 5.8 percent compared to the previous year. The top 100 companies include India’s Hindustan Aeronautics Limited, Bharat Electronics and Bharat Dynamics. Additional credit for indigenous arms production goes to the Make in India initiative. The government has decided to indigenize weapon systems like fighter aircraft, missiles and naval ships to become self-reliant.
Cutting. Naval fleet is increasing dramatically with China’s help
India will buy 26 Rafale and 3 Scorpio submarines from France.
Who took the decision to spend money on weapons instead of public welfare: Admiral Tripathi
– Indian Navy Chief disclosed
New Delhi: Naval Admiral Dinesh K Tripathi said that the Indian Navy is trying every possible strategy to counter potential threats from its neighbours. He said that the Indian Navy is well aware that the Pakistan Navy is building warships with the help of China. This indicates that Pakistan is strengthening its naval capabilities.
The Indian Navy is preparing to purchase 26 Rafale Marines and 3 Scorpio Class Submarines. Since this deal is between the two governments, it is likely to be approved soon, only the final stages are left. He said that to increase the capability of the Navy, currently 62 ships and one submarine are under construction in the country.
He said he was aware of the astonishing increase in expenditure incurred by the Pakistan Navy. Given the size of their economy it is surprising how they are building so many ships. They have focused on making weapons instead of caring for the welfare of their people.
He said that Pakistan Navy’s warships and submarines are being built with Chinese support. Before this he was using American weapons.
This shows that China is surprisingly interested in strengthening the Pak Navy, but we are well aware of their capabilities.
He said that Pakistan is giving priority to the construction of warships. Therefore, with such preparations we also respect the naval capabilities of our neighbours.
Admiral Tripathi said that the sea is for everyone. Any one of them can move around and work freely, as long as it does not affect our safety. He said that India has created an effective framework to keep a close watch on the activities taking place in the sea.
