Why in News:
- India was the third-highest military spender in the world behind the US and China as the global defence expenditure reached an all-time high of $2.1 trillion in 2021, hitting record levels despite the coronavirus pandemic, the Stockholm International Peace Research Institute (SIPRI)
What the report says
- According to data published by SIPRI, the top five military spenders—the United States, China, India, the United Kingdom, and Russia—accounted for 62 per cent of the global military expenditure.
- SIPRI said India’s military spending, amounting to $76.6 billion in 2021, grew by 0.9 per cent from 2020 and by 33 per cent from 2012.
- “Amid ongoing tensions and border disputes with China and Pakistan that occasionally spill over into armed clashes, India has prioritized the modernization of its armed forces and self-reliance in arms production”- the report said
- The Sweden–based SIPRI is an independent international institute dedicated to research into conflict, armaments, arms control and disarmament. It was established on the basis of a decision by the Swedish Parliament and receives a substantial part of its funding in the form of an annual grant from the Swedish Government.
- Established in 1966, SIPRI provides data, analysis and recommendations, based on open sources, to policymakers, researchers, media and the interested public.
- To read the 2020 SIPRI report- https://officerspulse.com/top-military-spenders/
- To read about India’s defence indigenization- https://officerspulse.com/indias-defence-indigenization/