India is 4th largest military spender after US, China & Russia, but gaps remain

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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 systematically enhancing military capabilities, India struggles to optimize its defense expenditures.

from India News | Latest India News Headlines & Live Updates from India - Times of India https://ift.tt/TUSZlv0

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