Why in news?
The global military expenditure rose to $1917 billion in 2019 with India and China emerging among the top three spenders, according to a report ‘Trends in World Military Expenditure, 2019’ by Stockholm International Peace Research Institute (SIPRI).
- India’s tensions and rivalry with both Pakistan and China are among the major drivers for its increased military spending.
- The $71.1 billion spent by India on defence in 2019 was 2.4% of its Gross Domestic Product (GDP).
- India’s expenditure in 2019 was 6.8% more than that in 2018.
- Pensions constitute a significant part.
- In comparison, Pakistan’s military expenditure rose by 70% over the decade 2010–19, to reach $10.3 billion while the military burden increased from 3.4% of GDP in 2010 to 4% in 2019
- In Asia and Oceania, other than India and China, Japan ($47.6 bn) and South Korea ($43.9 bn) were the largest military spenders.