In a report on military spending across the world in 2021, India featured in the Top 3. In the analysis by the Stockholm International Peace Research Institute, or SIPRI, the largest military spending nation in 2021, was the United States of America. In second place, was China. India followed at third place. The Top 5 were rounded out by the United Kingdom, and Russia.
But how much did these countries actually spend on their militaries?
USA spent $801 billion in 2021, down 1.4% from 2020. China spent $293 billion on its military in 2021, up 4.7% from 2020. India spent $76.6 billion, an increase of 0.9% from 2020. The United Kingdom spent $68.4 billion, up 3% from 2020. Russia, which is currently engaged in an invasion of Ukraine, spent $65.9 billion on its military. This was an increase of 2.9% over 2020.
The top 5 countries, which included India, accounted for 62% of the global military expenditure. Despite the Covid-19 pandemic, global military expenditure witnessed a 0.7% increase in real terms in 2021, according to SIPRI.