Which of the following statements is/are correct regarding the SIPRI Top 100 Arms-Producing Companies report for 2024?
1. Global arms revenues saw a decline in 2024 due to widespread supply chain bottlenecks.
2. Indian defense companies recorded an 8% increase in revenues, contrasting with a decline in Chinese defense revenues.

Question

Accepted Answer

B) 2 only — Statement 1 is incorrect because global arms revenues actually surged by 5.9% to reach a record $679 billion in 2024. Statement 2 is correct, as India saw an 8% revenue increase while China experienced a 10% decline due to anti-corruption purges and delayed contracts.

Release of SIPRI Top 100 Arms-Producing Companies 2024

World Bank Releases Global Economic Prospects