India's military expenditure increased to $76.6 billion in 2021, marking a 0.9% hike over the 2020 figures, according to a report released by defence think-tank Stockholm International Peace Research Institute (SIPRI) on April 25. "China, the world's second largest spender, allocated an estimated $293 billion to its military in 2021, an increase of 4.7% from 2020 and 72% from 2012," the report said.
The militaries of India and China have been in a border standoff in eastern Ladakh for the last 23 months following a violent clash in the Pangong lake areas on May 5, 2020. Each side currently has around 50,000 to 60,000 troops deployed along the Line of Actual Control (LAC).
