India 4th largest military spender at $84 billion, China 2nd with $296 billion

In 2023, global military spending surged to a historic high of $2,443 billion, marking the sharpest yearly increase in more than a decade. Despite ranking as the world’s fourth-largest defense spender, behind the US, China, and Russia, India faces challenges in maximizing its military investment. Hindered by substantial salary and pension obligations and a lack of coherent long-term strategies for enhancing military capabilities.