India’s military spending rises by 6% to $81.4 billion amid border tensions: Report
According to SIPRI, India ranked fourth in military expenditures with a 6% increase to $81.4 billion, due to the border tensions with China and Pakistan. SIPRI, the premier think-tank that monitors military spending, attributed the rise in India’s defence spending to these tensions in its Trends in World Military Expenditure report released recently.
According to the report, New Delhi allocated 23% of its total military spending in 2022 to capital outlays, including upgrades to its armed forces equipment and military infrastructure along its contested border with China. China was the second-largest military spender, with an estimated expenditure of $292 billion last year. Meanwhile, Pakistan’s military spending decreased to $10.3 billion from $11.3 billion in 2021 due to its ongoing financial crisis. The report also noted that personnel expenses, such as salaries and pensions, accounted for around half of India’s total military spending.
India’s military expenditure was $76.6 billion in 2021, according to SIPRI. Despite this increase, India’s ranking slipped from third to fourth place due to Russia’s spending surge of 9.2% to $86.4 billion in the same year, driven by its intervention in Ukraine.