India's military spending 3rd highest in world

According to the Stockholm-based institute, India's military spending is the third highest in the world, at USD 76.6 billion.

India's military spending 3rd highest in world
India's military spending 3rd highest in world. (Pictures for representational purposes only.) Credits: istockphoto.com

According to the Stockholm International Peace Research Institute (SIPRI), world military expenditure hit an all-time high of USD 2.1 trillion in 2021, with the United States, China, and India accounting for the top three spenders.

"Total global military expenditure increased by 0.7 percent in real terms in 2021, to reach USD 2113 billion. The five largest spenders in 2021 were the United States, China, India, the United Kingdom, and Russia, together accounting for 62 percent of expenditure," SIPRI said in a statement.