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We know that under Self-reliant India, the country is now becoming self-reliant in the defense sector also. To sour the teeth of the enemies, warships are being built one after the other. The Indian Army is continuously getting stronger. A special information has come to light in the report of Stockholm International Peace Research Institute.
Top 5 highest spending countries in 2023
In the year 2023, India has become the fourth country in the list of countries with the highest military expenditure. A report by Stockholm International Peace Research Institute (SIPRI) said that due to China's increasing military expenditure and increasing tension in the region, the expenditure of neighboring countries has also increased. Japan and Taiwan increased their military budgets by 11 percent. According to the report, India has spent 4.2 percent more on its army by 2022.
Who is number one?
According to SIPRI report, America will spend the most on its army in 2023. While China is in second place and Russia is in third place. India's name is at fourth place in this list. Even in the year 2022, India was at fourth place in the list of countries spending on army. India spent US$83.6 billion last year in 2023.
How much did military expenditure increase?
According to the report, Ukraine's military expenditure increased by 51 percent to $64.80 billion. Russia's military budget increased by 24 percent to $109 billion. America increased its military budget by 2.3 percent to $916 billion. Whereas China has increased it by 6 percent to $296 billion.
7% increase in global military spending
According to the information, there was such a race to buy arms in the world that global military expenditure increased by 7% to 2,443 billion dollars. Global military spending is set to grow at the fastest pace in a decade in 2023. This increase has occurred due to ongoing wars and other reasons in many parts of the world. Nan Tian, senior researcher at SIPRI, said the world's total military spending is at an all-time high. For the first time since 2009, all five geographic regions saw an increase in spending.