2021
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Detailed explanation-1: -India’s military spending of $76.6 billion ranked third highest in the world. This was up by 0.9 per cent from 2020 and by 33 per cent from 2012.
Detailed explanation-2: -A study by the Stockholm International Peace Research Institute has found that India stands at fourth position while China is way ahead of others in self-reliant defence production.
Detailed explanation-3: -The United States was the top nation in terms of military expenditure, spending $801 billion to make up almost 38% of global military spending in 2021. America has been the top military spending nation since SIPRI began tracking in 1949, making up more than 30% of the world’s military spending for the last two decades.
Detailed explanation-4: -The SIPRI Military Expenditure Database contains consistent time series on the military spending of countries for the period 1949–2021. The database is updated annually, which may include updates to data for any of the years included in the database.