At $76.6 billion, India is third highest military spender in world, says report

India was the third-highest military spender in the world behind the US and China as the global defence expenditure reached an all-time high of $2.1 trillion in 2021, hitting record levels despite the coronavirus pandemic, the Stockholm International Peace Research Institute (SIPRI) said Monday.

According to data published by SIPRI, the top five military spenders—the United States, China, India, the United Kingdom, and Russia accounted for 62 per cent of the global military expenditure.

SIPRI said India's military spending, amounting to $76.6 billion in 2021, grew by 0.9 per cent from 2020 and by 33 per cent from 2012.

The US accounted for 38 per cent of the global military spending, and China for about 14 per cent even as the UK moved up two ranks, spending $68.4 billion in 2021.

The report noted that China's military expenditure has grown for the 27th consecutive year.

Similarly, Russia also saw an increase in its military expenditure for the third consecutive year.