In an annual report released on Monday, by the Stockholm International Peace Research Institute (Sipri), it was revealed that India’s military budget was the third largest in the world in 2019.
The United States had the highest military budget at $732 billion, followed by a significant gap by China at $261 billion. India’s military budget was closely followed by Russia and Saudi Arabia, at $65.1 billion and $61.9 billion respectively.
AFP noted that the world military spending stood at $1.9 trillion globally, which showed a 3.6% growth from 2018.
As compared to 2018, India’s military spending was 6.8 per cent higher than the year before. From 1990 to 2019, India’s military budget grew by an astounding 259 per cent, and from 2010 to 2019 it grew by 37 per cent.
The report observed that India’s tensions and rivalry with China and Pakistan are among the major drivers for its increased military expenditure