Category : Ranks & Reports
 A Swedish think tank Stockholm International Peace Research Institute (SIPRI)announced that Russia has emerged as the world’s second-largest arms producer after the United States. Russia surpassed Britain, which had held that spot since 2002 and remains Western Europe’s No. 1 arms maker. SIPRI announced in its annual report on the world’s 100 biggest armaments groups that the combined arms sales of Russian companies amounted to $37.7 billion in 2017, an 8.5 percent rise from a year earlier. Russia’s sales accounted for 9.5 percent of a worldwide total of $398.2 billion. |
| Source- The Economic Times |
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