India ranked 5th among highest military spending nations -


May 2, 2017

India ranked 5th among highest military spending nations

India ranked 5th among highest military spending nations

India is at the 5th position now in the category of the largest spenders on defense with an expenditure of $55.9 billion in 2016 as reported by the Stockholm International Peace Research Institute (SIPRI). The amount shows the growth of military expense of 2016 as 8.5% which is considered quite decent and brought India’s position from 7th rank to 5th rank. Pakistan who considers itself the biggest rival of India with its $9.93 billion military spending doesn’t stand in the list of top 15 nations in this category.
The SIPRI released the Report on Monday to discover the facts and figures about various nations’ defense status which confirms that the US as always is the topmost in spending on the military. $611 billion is the 2016 spending amount on defense by the US, however, the growth in percentage is mere 1.7% which is a bit lower but considering the every year huge spending it is quite decent. The other top three in the ranking ahead of India are China, Russia, and Saudi Arabia. China continues at second position with its 2016 spending of $215 Billion with a considerable growth of 5.4% though a bit lower compared to its previous years’ growth. We saw a decent growth in Russia’s defense spending which was 5.9% with a total of $69.2 billion amount.
Saudi Arabia even after its continuing regional wars’ involvements slipped to the fourth position due to a 30% drop in its military spending to bring down the actual spending to $ 63.7 billion. The other top ten countries by their spending are Japan, South Korea, UK, France, and Germany. The report suggests that US defense expenditure is higher than the combined spending of the other 8 highest spending nations in this category. The US military expense growth is trending a stop in any decrease in such spending. This is the outcome of the economic crisis due to which the US had to withdraw its military forces from Iraq and Afghanistan. Despite a new government in the country bringing in uncertainties, the military spending doesn’t seem to go down. In the Western Europe too, the spending have increased for the consecutive two years with a growth of 2.6% in spite of the fact that the oil exporting nations are struggling with the lowering oil revenue.
Considering the spending as the GDP of the country then the US has the least with 1.3 % of its GDP whereas the Middle East has the highest with an average of 6% of the GDP of the nation.  However, the report shows that last year the spending on military was at 2.2% of the global GDP whereas India’s military expense amount has a share of 2.5% of nation’s GDP.

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