World military spending continued to grow in 2021, reaching a record $2.1 trillion despite the economic fallout of the pandemic, according to new data on global military spending published by the Stockholm International Peace Research Institute (SIPRI).

Top defence spenders in 2021

• The five largest spenders in 2021 were the U.S., China, India, the U.K. and Russia, together accounting for 62% of expenditure.
• The U.S. and China alone accounted for 52%.

India’s defence expenditure

• India’s military spending of $76.6 billion ranked third highest in the world.
• This was up by 0.9% from 2020 and by 33% from 2012.
• Amid ongoing tensions and border disputes with China and Pakistan that occasionally spill over into armed clashes, India has prioritised the modernisation of its armed forces and self-reliance in arms production, the report said.

What about Russia and Ukraine?

• Russia increased its military expenditure by 2.9% in 2021, to $65.9 billion, at a time when it was building up its forces along the Ukrainian border.
• On Ukraine, the report remarked that as it had strengthened its defences against Russia, its military spending “has risen by 72% since the annexation of Crimea in 2014”.
• Spending fell in 2021, to $5.9 billion, but still accounted for 3.2% of the country’s GDP.

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