SIPRI Report: India is the fourth largest country in the world to spend on military in the year 2023. This has been revealed by the new report of Stockholm International Peace Research Institute (SIPRI). According to this report that came on Monday (April 22, 2024), India will spend 83.6 billion US dollars on military in 2023.
According to the latest data, the country that spends the most in this matter is America, followed by China at second place and Russia at third place. By the way, through this report it was also revealed that India spent 4.2 percent more in this matter compared to last year. Even in the year 2022, India was the fourth largest country in the world to spend on military.
Latest figures come amid border dispute between India and China
This report of SIPRI also shows that in 2023, countries around the world spent 2443 billion dollars on their respective military. This expenditure increased by 6.8 percent compared to the year 2022. The latest figures have come at a time when India has been having a border dispute with China for some time.
How is India making itself strong on the military front?
After the clash with China in Ladakh in 2020, India had emphasized on rapidly strengthening its capabilities in the defense sector. The country is currently redesigning the military by modernizing fighter jets, helicopters, warships, tanks, artillery guns, rockets, missiles and other combat systems.
Other important points of SIPRI report
- Iran is the fourth largest country in the Middle East to spend the most on military in 2023. He spent 10.3 billion US dollars in one year.
- Algeria’s military spending has increased by 76 percent to US$18.3 billion.
- Brazil’s military expenditure also saw an increase of 3.1 percent. According to the latest report, this figure will be 22.9 billion dollars in 2023.
- Poland was the 14th largest military spender in the world and spent 31 billion dollars.
- There was an increase of 105 percent in the military expenditure of the Democratic Republic of the Congo, while in South Sudan this figure was more than 78 percent.
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