India ranks in the top three countries in the world in terms of military spending. According to the Stockholm International Peace Research Institute, a Swedish defense think tank, India is second only to the United States and China in terms of military spending by 2020. The media reported this news in Anandabazar.
According to the data obtained in 2020, the total defense allocation of the United States in that year was 778,00 crore dollars. China’s 52,000. And, India’s seven thousand 290 million dollars.
Russia, which ranks fourth on the list, will spend 6170 thousand on defense in 2020, followed by the United Kingdom at 5920 and Saudi Arabia 5750 USD. The seventh joint military allocation of France and Germany is 5300.
The report by Stockholm International claims that the United States accounts for 39 percent of the world’s military spending. China 13 percent and India 3.7 percent. The United States is also ahead in comparative figures for 2019 military spending growth. In that country, the defense allocation has increased by 4.4 percent in one year. India (2.9 percent) has surpassed China (1.7 percent) in terms of growth rate.