India 4th largest military spender in 2023: SIPRI

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As per the report, Ukraine became the eighth largest military spender in 2023, increasing its spending by 51%. With military expenditure worth $83.6 billion in 2023, India was the fourth largest spender globally in 2023, the latest report by Stockholm International Peace Research Institute (SIPRI) states. This was a result of growing personnel and operations costs that comprised about 80 per cent of the total military budget, the report said. The latest data showed that the United States, China and Russia remained the top three military spenders globally followed by India and Saudi Arabia.