World military spending up in 2015, India in sixth position
As per the latest report from the Stockholm International Peace Research Institute (SIPRI), India is the sixth largest military spender in 2015 having spent $51.3 billion.
Key facts:
- World military expenditure rose by 1% in 2015. It stood at $1,676 billion in 2015. This reflects continuing growth in Asia and Oceania, Central and Eastern Europe, and some Middle Eastern states.
- The U.S. remained by far the world’s largest spender in 2015 despite its defence expenditure falling by 2.4% to $596 billion followed by China, Saudi Arabia, Russia and U.K.
- China’s expenditure rose by 7.4% to $215 billion.
India’s performance:
- India moved one rank up from last year accounting for 3.1% of global military expenditure. Over a ten-year period from 2006-15 this represents a 43% jump.
- India is also ahead of countries like France, Germany and Israel who happen to be among its top arms suppliers.
Concerns:
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.
