New Delhi: India has ranked third in the world in 2021 in terms of military expenditure 2021, the Government informed the Lok Sabha on Friday. The information was shared by Minister of State (MoS), Defence, Ajay Bhatt in a written reply citing data from the Stockholm International Peace Research Institute (SIPRI)’s website.
"This Ministry does not maintain expenditure data of other countries. However, as per data available on Stockholm International Peace Research Institute (SIPRI)’s website, as detailed below...," stated Rai.
Also read: India has not imposed any country-specific ban on imports: Piyush tells Parliament
According to the statistics provided by the MoS, while the US occupied the top slot in terms of military spending (USD 800,672.20) in 2021, the second spot was occupied by China which spent USD 293,351.90 and India occupied the third spot spending USD 76,598.00 for military expenditure.
The MoS further stated that during 2017-21 the percentage of Foreign Procurement (both Revenue and Capital) made for the purchase of Stores/ Defence Equipment has been in the range of 33.97 per cent - 41.60 per cent.
