At $76.6 bn, India's military spending third highest in world: SIPRI report

According to a research report released by defence think-tank Stockholm International Peace Research Institute (SIPRI), India's military spending grew to US$ 76.6 billion in 2021, up 0.9% from 2020.

India has prioritised the upgrading of its military forces and self-reliance in arms manufacture in the face of persistent tensions and border disputes with China and Pakistan. 64% of capital outlays in the Indian military budget for 2021 were designated for acquisitions of domestically produced guns in an effort to promote the indigenous arms sector.

On April 21, 2022, Mr. Rajnath Singh, Union Minister of Defence stated that continuing talks with China for a peaceful resolution of the eastern Ladakh dispute will continue, adding that troop pull-out and de-escalation is the way forward. Indian troops are holding steady in the face of harsh weather and hostile forces to safeguard the country's territorial integrity.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.