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INDIA AMONG TOP 3 MILITARY SPENDERS: REPORT

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).

Details

  • 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.
India Overtakes Russia to become the third largest defence spender on imports
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September 2022
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