Arms Race: World's military spending is at an all-time high of $2.1 trillion, India ranks third


Posted on 25th Apr 2022 04:26 pm by rohit kumar

Another big news has come during the ongoing war between Russia and Ukraine. According to the Stockholm International Peace Research Institute (SIPRI), military spending in the world has reached an all-time high of $2.1 trillion. India has reached third place in terms of military expenditure.

 

America and China are at the forefront of spending on weapons. After him, India has taken its place. According to the SIPRI report for the year 2021, this year America, China, India, Britain, and Russia spent the most on weapons. According to the report, India is ranked third in the world with military spending of $ 76.6 billion in 2021. It has increased by 0.9 percent in comparison to 2020 and 33 percent in comparison to 2012.

 

Even when the world was battling the Corona epidemic, countries around the world increased spending on weapons. Not only this, in the second year of the epidemic, the world's military expenditure reached a record level of $ 2.1 trillion. In this way, for the seventh year in a row, there has been an increase in military expenditure.

 

According to the report, the US increased the military expenditure of the whole world by 0.7 percent and it was $ 2113 billion. The US spent $801 billion on the military in the year under review. It declined by 1.4 percent as compared to the previous year. The US spent 24 percent on defense research and 6.4 percent less on weapons purchases.

 

The five highest military spending countries accounted for 62 percent of total military spending in 2021. While GDP declined and the public continued to grapple with the burden of inflation, the expenditure on weapons increased by 6.1 percent.

 

The organization's chief researcher Dr. Diego Lopes de Silva said that after recovering from the corona epidemic, defense spending increased rapidly and reached 2.2 of global GDP. However, in 2020 it was 2.3 percent of the world GDP.

 

China came in second place. China spent $293 billion on defense. It increased defense expenditure by 4.7 percent compared to 2020. India's growth is marginal as compared to China.

 

Also Read: Britain made many announcements of help so that India moves away from Russia, also talked about Ukraine

1 Like 0 Dislike
Previous news Next news
Other news

Saiyaara Box Office Collection: 'Khiladi Bhaiya' lost to Ahaan. Saiyaara is so far away from breaking Akshay's movie record.

The beginning of the year may have been slow for Hindi films, but now the box office is slowly ge

Shamshera Poster: Makers released a new poster of Shamshera, Sanjay Dutt looked dreadful in their khaki uniform

Bollywood actors Ranbir Kapoor, Vaani Kapoor, and Sanjay Dutt are in discussions these days about

ED Attaches PFI Accounts: ED attaches bank accounts of PFI, action in money laundering case

The Enforcement Directorate (ED) on Wednesday said it has attached Rs 68.62 lakh of money launder

Good news about monsoon: 103% rain is expected in the country this year, and 12 states including Punjab-Himachal will receive more rain than normal in June

This time the country is expected to receive good rains from last time. The India Meteorological

Waqf JPC: The parliamentary committee not satisfied with the information of three states including Madhya Pradesh, asked for details again in 15 days

The Joint Parliamentary Committee reviewing the Waqf Amendment Bill recorded oral evidence from t

In Maharashtra, bachelors protested by posing as grooms: said to the government - can't find a girl for marriage, find them and bring them

In the Solapur district of Maharashtra, on Wednesday, troubled youths started a unique movement f

MiG-21: Why are MiG-21 aircraft more than 50 years old, the country's compulsion, all squadrons will retire by 2025

Another incident of the crash of MiG-21 aircraft, popularly known as Flying Coffin (Udta Coffin)

Delhi: Indonesian Minister Mohammad Mahfud meets PM Modi, Indonesian delegation will go to Agra today

Indonesian Minister Mohammad Mahfud met Prime Minister Narendra Modi on Tuesday. The meeting took

Sri Lanka Crisis: PM Modi sent a letter to the new President of Sri Lanka, Ranil Wickremesinghe, said- eager to work together

PM Modi Congratulates Ranil Wickremesinghe: Prime Minister Narendra Modi (PM Modi) congratulated

Kerala: Congress workers extorting money for 'Bharat Jodo Yatra'! The assault on the vegetable seller

Bharat Jodo Yatra is being taken out under the leadership of Congress leader Rahul Gandhi. This y

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash