As per Stockholm International Peace Research Institute, India’s military expenditure from the year 2019 to 2022 is as under:
(In Current US$ Million)
| Year | 2019 | 2020 | 2021 | 2022 |
| 71,468.90 | 72,937.10 | 76,348.50 | 81,363.20 |
The increase in defence spending is attributable to the requirement of funds projected by the Services and the availability of resources with the Government.
This information was given by India’s Union Minister of State for Defence Shri Ajay Bhatt in a written reply to Shri Natarajan PR in the Lok Sabha on 10th February 2024.
Source: https://pib.gov.in/
