India sixth largest military spender

India sixth largest military spender
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Story Dated : April 8, 2016

New Delhi: India is the sixth largest military spender in 2015 having spent $51.3 billion even as the world spent $1,676 billion reversing a global trend which was on the decline since 2011, as per the latest report from the Stockholm International Peace Research Institute (SIPRI).

India moved one rank up from last year accounting for 3.1 percent of global military expenditure. Over a ten-year period from 2006-15 this represents a 43 per cent jump. India is also ahead of countries like France, Germany and Israel who happen to be among its top arms suppliers.

World military expenditure rose by 1 per cent in 2015, the report noted said it reflects continuing growth in Asia and Oceania, Central and Eastern Europe, and some Middle Eastern states.

Sam Perlo-Freeman, head of SIPRI’s military expenditure project said that the military spending in 2015 presents contrasting trends. “On the one hand, spending trends reflect the escalating conflict and tension in many parts of the world; on the other hand, they show a clear break from the oil-fuelled surge in military spending of the past decade,” he said in the report.

The US remained by far the world’s largest spender in 2015 despite its defence expenditure falling by 2.4 per cent to $596 billion followed by China, Saudi Arabia, Russia and UK.

China’s expenditure rose by 7.4 per cent to $215 billion.