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India 3rd Highest Military Spender

Context:

World military spending continued to grow in 2021, reaching a record $2.1 trillion despite the economic fallout of the pandemic, according to new data on global military spending published by the Stockholm International Peace Research Institute (SIPRI).

Relevance:

GS III- Indian Economy (Issues relating to planning, mobilization of resources)

Dimensions of the Article:

  1. Top defence spenders in 2021
  2. India’s defence expenditure
  3. About SIPRI

Top defence spenders in 2021

  • The five largest spenders in 2021 were the U.S., China, India, the U.K. and Russia, together accounting for 62% of expenditure.
  • The U.S. and China alone accounted for 52%.

India’s defence expenditure

  • India’s military spending of $76.6 billion ranked third highest in the world.
  • This was up by 0.9% from 2020 and by 33% from 2012.
  • Amid ongoing tensions and border disputes with China and Pakistan that occasionally spill over into armed clashes, India has prioritised the modernisation of its armed forces and self-reliance in arms production, the report said.

About SIPRI

  • Stockholm International Peace Research Institute (SIPRI) is an independent international think-tank institute dedicated to research into conflict, armaments, arms control and disarmament.
  • It was established in 1966 at Stockholm (Sweden).
  • It provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.

-Source: The Hindu

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October 2022
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