The Stockholm International Peace Research Institute (Sipri) in its annual report said that India has the third biggest military budget in the world last year, following United States and China.
The military spending of India of $71 billion was 6.8% more than its 2018 expenditure. It increased by 259% over a 30-year period from 1990 to 2019 and it grew by 37% from 2010-19.
When it comes to the GDP, the military burden of India dropped 2.7% in 2010 to 2.4% in 2019. This is as per the report titled, “Trends in World Military Expenditure, 2019”.
The major reason for increased military expenditure of India is its rivalry with China and Pakistan.
Coming to Pakistan, as per Sipri its defence budget has surged 70% in the last decade. Russia’s ranking surged from 5th position to 4th while Saudi Arabia dropped from 3rd to 5th.
The military expenditure of Pakistan surged by 70% during the 2010-19 decade. It reached $10.3bn. The military budget increased 3.4 per cent in 2010 to 4% last year in terms of GDP.
6 of the 10 countries with military spending of 4% and more resides in the Middle East. They are Oman, Saudi Arabia, Kuwait, Israel, Jordan, and Lebanon. The remaining four are Pakistan, Algeria, Armenia, and Azerbaijan.