According to the latest SIPRI report released on Monday, India, the newly declared world’s most populous country with 1.43 billion people, ranks only fourth in terms of global military spending in 2022. The United States, which ranks third in population size with 0.33 billion people, tops the list of military spenders. According to the SIPRI report, the top five military spenders in 2022 will be the United States ($877 billion), China ($292 billion), Russia ($86.4 billion), India ($81.4 billion), and Saudi Arabia ($75 billion), accounting for 63% of global military spending. India’s ranking fell one place, one rank lower than the previous year, with Russia moving up to third place due to an increase in military spending due to the ongoing conflict in Ukraine. However, in a sign that global military spending is rapidly increasing, India’s military spending (totaling $81.4 billion in 2022) was 6% higher than in 2021 and 47% higher than in 2013. The increase in military spending in 2021 over 2020 was 5.02 percent. Russia’s military spending, on the other hand, is expected to increase by 9.2 percent in 2022.
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