According to data published by SIPRI, the top five military spenders—the United States, China, India, the United Kingdom, and Russia—accounted for 62 per cent of the global military expenditure.
India was the third-highest military spender in the world behind the US and China as the global defence expenditure reached an all-time high of $2.1 trillion in 2021, hitting record levels despite the coronavirus pandemic, the Stockholm International Peace Research Institute (SIPRI) said Monday.
According to data published by SIPRI, the top five military spenders—the United States, China, India, the United Kingdom, and Russia—accounted for 62 per cent of the global military expenditure.
SIPRI said India’s military spending, amounting to $76.6 billion in 2021, grew by 0.9 per cent from 2020 and by 33 per cent from 2012. “Amid ongoing tensions and border disputes with China and Pakistan that occasionally spill over into armed clashes, India has prioritized the modernization of its armed forces and self-reliance in arms production,” according to the report.
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