India is now in the big league!
According to a report released by the Stockholm International Peace Research Institute (external link), India’s military expenditure grew around 8.5 per cent in 2016, making it the world’s fifth largest spender at .9 billion.
US remains the world’s largest military spender registering a growth of 1.7 per cent between 2015 and 2016 to $611 billion.
Military expenditure by China, which was the second largest spender in 2016, increased by 5.4 per cent to $215 billion, a much lower rate of growth than in previous years.
The third largest military spender was Russia, which has increased its spending by 5.9 per cent to $69.2 billion.
Saudi Arabia was the third largest spender in 2015 but dropped to fourth position in 2016. Spending by Saudi Arabia fell by 30 per cent in 2016 to $63.7 billion, despite its continued involvement in regional wars.
Pakistan does not figure in the top 15 spenders.
Global military expenditure rose for a second consecutive year to a total of $1686 billion, marking the first consecutive annual increase since 2011, when spending reached a peak of $1,699 billion.