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India was the 4th largest military spender globally in 2023: SIPRI report
According to the latest report on military spending data by the Stockholm International Peace Research Institute(SIPRI), India remained the fourth largest military spending country around the world.
As per the report, India spent $83.6 billion worth of military expenditure in the year of 2023 and became world’s fourth largest military spender. India’s military expenditure was increased by 4.2 percent from 2022 and 44 percent from the year of 2014.
The United States remained the top largest military spender followed by China and Russia respectively. India is followed by Saudi Arabia.
Top military spenders globally:
| Position | Countries |
| 1. | United States |
| 2. | China |
| 3. | Russia |
| 4. | India |
| 5. | Saudi Arabia |
Reasons behind the increase:
- The rising of personal and operational costs is one of the main reasons behind India’s increasing military spendings. This comprised around 80% of the total military Budget of India.
- Government’s aim to foster the operational readiness of the armed forces also played an important role in increasing military spendings.
- Ongoing tensions with China and Pakistan were also the reason behind increasing military spendings.
Global Scenario:
If we talk about the top 5 countries US, China, Russia, India and Saudi Arabia, they together accounted for around 61% of global military expenditure. The military expenditure of the US in 2023 was $916 billion, China’s $296 billion and Russia’s military expenditure was around $109 billion.
As per the report, Ukraine has increased its military expenditure by around 51% and became eighth military spender around the world.
Conclusion:
Increasing the Investment in defense stimulates technological innovation, leading to advancements in various sectors such as aerospace, engineering, and communications.
Important Questions:
- Describe the reasons for increasing military expenditure in India.
- Which are the top 5 countries in military spendings in 2023?
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