India Ranks As The World’s 4th Largest Defence Spender In 2022, Says Report
- In 2022, the United States, China, and Russia, which spent the most, made up 56% of the world's total.
- India spent USD 76.6 billion on its defense in 2021, which was the third most of any country in the world.
A report from the Swedish think tank Stockholm International Peace Research Institute (SIPRI) said that India spent about 6% more on its military in 2022 than it did in 2021. This made India the fourth biggest military spender in the world.
In the report on India’s military spending, it was said that about 23% of the money was used to pay for weapons and infrastructure, including that along the border with China, where tensions are still high. A big part of the money was spent on things like salaries and benefits, though.
India’s defense spending was USD 81.4 billion (one billion = 100 crore), which was 6% more than in 2021 and 47% more than in 2013.
“The rise in India’s spending shows that its border disputes with China and Pakistan are having an effect,” said a report that came out on Monday.
23 percent of all military spending in 2022 went to capital outlays, which pay for upgrades to the military’s weapons and infrastructure along its disputed border with China. Payroll costs, such as pay and pensions, were still the biggest part of the Indian military’s budget, making up about half of all spending.
The United States spent the most on its military in 2022, at 39% of all military spending around the world. This was followed by China (13%), Russia (3.9%), India (3.6%), and Saudi Arabia (3.3%).
Together, these five countries spent 63% of all military spending around the world in 2022.
In 2022, the 15 countries that spent the most on their military made up 82% of the world’s total military spending of USD 1,842 billion.
In real words, the total amount spent on the world’s military went up by 3.7% in 2022, reaching a new high of USD 2,240 billion. Europe’s military spending went up the most from one year to the next in at least 30 years.
In 2022, the United States, China, and Russia, which spent the most, made up 56% of the world’s total.
India spent USD 76.6 billion on its defense in 2021, which was the third most of any country in the world. At USD 55.9 billion, it was the fifth largest military spender in the world in 2016.