India is the fourth largest country in the world in terms of expenditure on armies and weapons. A total of 10 countries have spent lavishly on military weapons. America is on top in this. Sweden’s Stockholm International Peace Research Institute (SIPRI) has revealed this in a report released on Monday. According to the report, the amount of money that various countries in the world are currently spending on arms, ammunition and other military equipment has never happened before.
According to the report, military expenditure in the year 2023 increased by 6.8 percent compared to 2022 to reach $24.4 trillion. Whereas, in 2022 it was $22.4 trillion. According to the report, this is the biggest increase in a year since 2009 and the ninth consecutive year when spending has increased. The military expenditure of the ten countries which have contributed the most to this growth has increased tremendously.
America is on top and China is on second place.
America still tops the list of countries with highest military spending. In 2023, America will spend $916 billion on defense, which is more than 37% of the total worldwide expenditure. At second place is China, whose expenditure is about one third of America. It spent $296 billion, which is 12% of the total expenditure. This is 6% more than 2022. These two countries contributed half of the total expenditure.
India spent 83.6 billion dollars in 2023
The fourth largest country in terms of military expenditure is India which spent 83.6 billion dollars. This was 4.2 percent more than in 2022. The five highest spending countries in 2022 remain in the same position in 2023. Russia is at number three in this. After this comes India and Saudi Arabia. Russia’s expenditure in 2023 increased by 24 percent compared to 2022 to reach $109 billion. This is a 57 percent increase since Russia separated Crimea from Ukraine in 2014. Russia is spending 5.9 percent of its GDP on army.
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