China's defence budget soars, can India match up with its military might?

Quick Summary:

As China's military spending surges, the balance of power in the Indo-Pacific has shifted.

More sober estimates indicate China’s military spending to be no more than 27 to 33 per cent higher than its official budget; thus pegging it at about $314 billion.

Consequently, many countries in the Asia-Pacific, in attempting to field the right military capabilities, are trying to rethink and replan their defence-investment strategies and industrial developmental plans, alongside significant increases in their annual defence allocations.

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Category: BusinessFinance

Markets: IndiaCanadaChinaFranceGermanyIndonesiaSouth KoreaSaudi ArabiaUkraineUnited KingdomUnited StatesVietnam

Topics: Defence news Indian military India Defence budget Lt Gen Harinder Singh Indian military expenditure China Defence budget Chinese military expenditure Chinese military Defence budget

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-21 @ 11:15:11 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1819 words

Reading Time: 11 minutes read

Sentences: 82 lines

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Copyright Owner: © Business Standard

News ID: 23147689

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