Top 5 Defence Spenders – India in top 5 list

India has joined the U.S. and China as one of the world’s five biggest military spenders.

It has occupied the fifth spot after-

1. US
2. China
3. Saudi Arabia
4. Russia

• According to a report released by Stockholm International Peace Research Institute (SIPRI), India's military spending increased in 2017.
• Worldwide military spending increased to $1.73 trillion in 2017, which is nearly 2.2 percent of global gross domestic product.
• India spent US$63.9 billion on defence in 2017, an increase of 5.5 per cent compared to that in 2016.
• Reasons like the growing border tension with China, cross-border threat from Pakistan etc. has resulted in an increase in the military expenditure.
• As per the earlier reports, India was also the largest importer of arms in the world.
• Finance Minister Arun Jaitley has allocated Rs 3,59,894 crore to the Defence Ministry in this year’s budget session.

Expected Questions

Question 1. Where is the Stockholm International Peace Research Institute located?
Stockholm

Question 2. Who is the current Director of SIPRI?
Dan Smith

Question 3. Who is the current Defence Minister of India?
Nirmala Sitharaman

Question 4. Which spot has India gained in the top 5 largest military spenders of the world?
5th