New Delhi, April 26
Despite the Covid-19 pandemic, the military spending the world over rose to $1,981 billion in 2020, registering a rise of two.6 per cent as in contrast with figures for 2019.
The 5 largest spenders in 2020, which collectively accounted for 62 per cent of the worldwide military expenditure, had been the United States, China, India, Russia and the United Kingdom, in accordance with the information printed on Monday by the Stockholm International Peace Research Institute (SIPRI).
The US military expenditure reached an estimated $778 billion, representing a rise of 4.4 per cent over 2019, whereas the spending by China grew for the twenty sixth consecutive 12 months, says the report titled “trends in world military expenditure, 2020”.
At $72.9 billion, India’s military spending in 2020 was 2.1 per cent increased than that in 2019. The enhance might be largely attributed to India’s ongoing battle with Pakistan and renewed border stress with China.
(*3*) the report mentioned. — TNS