India ranks among the top three countries in the world in terms of defense spending. According to the Stockholm International Peace Research Institute (SIPRI), a Swedish defense think tank, India is second only to the United States and China in military spending in 2021.
According to SIPRI, India’s defense spending increased by about 33 percent from 2012 to 2021. Compared to 2020, the cost has increased by 0.9 percent in 2021. At the time, India had spent about ৭ 6.8 billion on the military.
On the other hand, in 2021, the United States will spend more than 60 trillion dollars on defense. The cost to China is 29.3 trillion dollars. However, in the Corona situation, US defense spending fell by 1.4 percent, while China’s increased by about 5.6 percent.
The world is in turmoil and conflict. Even then the military expenditure in the country is increasing every year. It is known that in 2021, the global military expenditure has reached a record high. At that time, the world’s military spending reached two trillion dollars or two trillion dollars. This expenditure has been increasing for the last seven years.
The top defense spending nations are the United States, China, India, the United Kingdom and Russia. These countries account for 72 percent of global military spending.
Russia’s military spending rose 2.9 percent to about 6.8 billion. This is the third consecutive increase in the country. Russia spends 4.1 percent of its GDP on the military.