Introduction:
India the global advocate for peace is now the third-highest military spender in the world. A report by the Stockholm International Peace Research Institute (SIPRI) released on April 25 mentioned India’s military spending to be the third-highest in the world, behind only the US and China. As per the report, India’s military spending stood at $76.6 billion, and is behind only the United States ($801 billion) and China ($293 billion), followed by the United Kingdom and Russia. These five countries taken together account for over 62 percent of the global military expenditure.
Global Change:
As per the report issued by SIPRI, the total global military spending increased by 0.7 percent in 2021, reaching $2,113 billion. This is the first time that the world military expenditure has crossed the $2 trillion mark and, the seventh consecutive year that spending has increased. India’s military spending saw an increase of 0.9 percent compared to 2020 and an increase of 33 percent from 2012. The report also stated “In a push to strengthen the indigenous arms industry, 64 percent of capital outlays in the military budget of 2021 were earmarked for acquisitions of domestically produced arms,”
Drop-in US Spending
United States’ military expenditure in 2021 has seen a marginal drop of 1.4 percent when compared to 2020. The GDP share on military spending also came down from around 3.7 percent in 2020 to 3.5 percent in 2021. “US funding for military research and development rose by 24 percent between 2012 and 2021, while arms procurement funding fell by 6.4 percent over the same period,” SIPRI saiarm.
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Spike in Chinese Funding:
China’s military spending in 2021 saw a 4.7 percent raise over 2020. With this, the Dragon’s military expenditure has grown for 27 consecutive years.
Ukraine War
At $65.9 billion and 4.1 percent of its GDP, Russia increased its military spending by 2.9 percent in 2021, at a time it was mobilizing its troops along the Ukrainian border. This was the third consecutive year of growth in Russian military spending. On the other hand, Ukraine’s military spending has risen by a massive 72 percent since the annexation of Crimea in 2014, as the country strengthened its defenses against Russia. Spending fell to $5.9 billion in 2021, but still accounted for 3.2 percent of its GDP, the SIPRI report said.
Conclusion:
The increase in military spending by India is indicative of India’s growing influence and power on the world stage, especially in the southeast Asian region. The increase in spending can also be seen as an indicator of India’s preparedness to counter any threat in the region be it Pakistan, China, or any other country. We can see a new global paradigm coming upon us and it remains to be seen what will it bring, for that is a question only time can answer.
