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New Delhi: The race to become the most powerful in the whole world is such that all countries are continuously increasing their defense budget to strengthen their armies. China is also not behind in this matter. To increase its threat in the Indo-Pacific region and elsewhere, China is continuously increasing its military expenditure. China has increased its military expenditure to an estimated $296 billion in the year 2023, making it the second largest military spender after America. In doing so, Beijing has increased its military expenditure by 6 percent compared to 2022.
If we talk about global defense expenditure, then the fastest year-on-year growth has been recorded in the last decade and it has reached a record of $ 2,443 billion in 2023. Also, India remained the fourth largest defense spending country in the world after America, China and Russia. In the last report also, India was at fourth position.
Stockholm International Peace Research Institute (SIPRI) has released a report regarding the defense budget and military expenditure of various countries for the year 2023. According to the report, America still remains number one in the world in terms of expenditure on military. However, China, which is second in this list, has a defense budget of 296 billion dollars in the year 2023. China’s military expenditure is 6 percent more than last year. In this way, China has increased its military expenditure for the 29th consecutive year. This means that Dragon has been spending money like water on its army and military equipment for 29 consecutive years.
According to a SIPRI report published on Monday, the US has spent $916 billion on its defense budget, which is 37 percent of the total global military expenditure. There has been an increase in American military expenditure due to direct support to Ukraine on the one hand and Israel on the other. Last year, America and China together spent almost half of the global military expenditure.
According to this report, after America and China, the names of Russia, India and Saudi Arabia come in the top five in terms of spending on their defense budget and army, which had 61 percent share in the world’s military expenditure in the year 2023. India is at fourth place in this list, whose military expenditure in the year 2023 was 83.6 billion dollars (Rs 69,69,67,76,60,00), which is 3.7 percent of the global defense expenditure.
Top 10 countries with highest military expenditure
America- 916 billion dollars
China- 296 billion dollars
Russia- 109 billion dollars
India- 84 billion dollars
Saudi Arabia- 76 billion dollars
Britain- 75 billion dollars
Germany-67 billion dollars
Ukraine- 65 billion dollars
France- 61 billion dollars
Japan- 50 billion dollars
However, if we talk about Pakistan, it is at number 30 in this list with $8.5 billion. China’s military expenditure is almost four times more than India’s.
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Tag: China, india news, india russia defense deal
first published : April 23, 2024, 06:24 IST
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