India goes past Britain and Russia in military expenditure; ranked third

NEW DELHI: As per the report prepared by the Stockholm International Peace Research Institute, India has ranked third in military expenses in the year 2021. India achieved this feat by going past Britain and Russia.

As per the report, India spent a total of $7660 crores in 2021 alone. This was up by 0.9 percent from 2020 and by 33 percent from 2012. In a push to strengthen the indigenous arms industry, 64 percent of capital outlays in the military budget of 2021 were earmarked for acquisitions of domestically produced arms.

The USA and China have secured the first and second ranks in military spending. While the USA spent $801 billion, China spent $293 billion in 2021.