A recent report released by the Stockholm International Peace Research Institute (Sipri) has revealed that India’s military expenditure has risen 8.5 percent in 2016 to reach $55.9 billion. With this, India has now become the fifth largest military spender in the world. The report also reveals that the top military spender in the world remains to be the United States. The US military expenditure grew 1.7% during 2015-2016 to reach $611 billion. At the second spot is China, registering an increase of 5.4 percent to reach $215 billion. This shows that the United States is way ahead of any other country in terms of military expenditure.
At the third spot is Russia, registering an increase of 5.9 percent to reach $69.2 billion. At the fourth position is Saudi Arabia, registering a drop of 30 percent to reach $63.7 billion. Saudi Arabia was at the third place in 2015. Other countries that featured in the top 15 largest military spenders list included Japan, South Korea, and Australia. Pakistan’s military expenditure was $9.93 billion, but it did not feature in the top 15 list.
“The growth in US military expenditure in 2016 may signal the end of a trend of decreases in spending, which resulted from the economic crisis and the withdrawal of US troops from Afghanistan and Iraq,” the report said.