Top 10 Countries with Highest Military Spending: India among top 5; where do China, Russia, US stand? Check List
Military spending by country: Did you know that the world’s largest military spender allocated 3.1 times more funds to defence than the country in the second spot? Global military expenditure continued its upward trend for the ninth consecutive year in 2023, reaching a total of $2,443 billion. This 6.8% increase in 2023 marked the sharpest year-on-year rise since 2009 and propelled global spending to its highest level ever recorded by SIPRI! The top five spenders collectively constituted 61% of world military spending! So which are the top 10 countries with highest military or defence spending in 2023? What was India’s defence budget for 2023 and where does it stand in the list? Let’s take a look:
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