India was the world’s fourth largest military spender in 2022, with its defence spending increasing by around six percent as compared to 2021, a report by Swedish think tank Stockholm International Peace Research Institute (SIPRI) said.
The military expenditure report said around 23 percent of the total spending by India was towards funding equipment and infrastructure, including that along the China border where tension continues. However, a major part of the spending was on expenditures like salaries and pensions.
With military expenditure of USD 81.4 billion (one billion=100 crore), India’s spending was up by six per cent from 2021 and by 47 per cent as compared 2013.
“The increase in India’s spending shows the effects of its border tensions with China and Pakistan,” the report released on Monday said.
Expenditure on capital outlays, which funds equipment upgrades for the armed forces and to the military infrastructure along its disputed border with China, amounted to 23 per cent of the total military spending in 2022 Personnel expenses like salaries and pensions remained the largest expenditure category in the Indian military budget, accounting for around half of all military spending.
The United States, accounting for 39 per cent of the world military spending in 2022, was the top spender, followed by China (13 per cent), Russia (3.9 per cent), India (3.6 per cent) and Saudi Arabia (3.3 per cent).
