The Stockholm International Peace Research Institute (Sipri) published the global military spending report on April 24.
Key findings
- India’s expenditure on equipment upgrades for the armed forces and strengthening military infrastructure along its disputed border with China accounted for 23% of its total military spending in 2022.
- India was the fourth biggest military spender in the world in 2022 after the United States, China and Russia, Saudi Arabia was in fifth place. The five countries accounted for 63% of the world’s military spending.
- India’s military spending of $81.4 billion was the fourth highest in the world. It was 6% more than in 2021 and up by 47% from 2013.
- Total global military expenditure increased by 3.7% in 2022, hitting a new high of $2,240 billion. Russia’s invasion of Ukraine was a major driver of the growth in spending last year.
- China continues to spend more on defence than India. In 2022, China’s military spending reached $292 billion.
