New Delhi: India is the fourth largest country in the world in the list of those spending the most on its army in the year 2023. This information has come out in the report of Stockholm International Peace Research Institute (SIPRI). The report says that China’s increasing military expenditure and increasing tension in the region have also increased the expenditure of neighboring countries. Japan and Taiwan have increased their military budget by 11 percent. According to the report, India spent 4.2 percent more on its army by 2022.
America at number one
According to international think tank SIPRI, America has spent the most on its army in 2023. China is at second place and Russia is at third place. India’s name is at fourth position. Even in the year 2022, India was at fourth place in the list of countries spending on army. India spent 83.6 billion US dollars last year in 2023.
Ukraine’s military expenditure increased by 51 percent
According to the report, Ukraine’s military spending increased by 51 percent to $64.80 billion. Russia’s military budget increased by 24 percent to $109 billion. The US increased its military budget by 2.3 percent to $916 billion. While China increased it by 6 percent to $296 billion.
Global military spending increased by 7%
According to the information, there was such a competition in the world to buy arms that global military expenditure increased by 7% to 2,443 billion dollars. Global military spending is set to rise in 2023 at its fastest pace in a decade. This increase has happened due to the ongoing wars in many parts of the world and other reasons. SIPRI senior researcher Nan Tian said that the world’s total military expenditure is at an all-time high. For the first time since 2009, all five geographic regions saw an increase in spending.
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