Stockholm : India has emerged as one of the five biggest military spenders in 2017, a report by Stockholm International Peace Research Institute (SIPRI) revealed.
According to Kashmir Media Service, with an expenditure of $ 63.9 billion on military in 2017, India marked a 5.5 per cent rise from the figures in 2016.
China made the biggest leap with an increase of 5.6 per cent ($12 billion) from 2016, and became the highest defence spender in Asia at $ 228 billion. Military tension between India and China may have driven India’s defence expense, as indicated by senior researcher with the SIPRI AMEX programme, Siemon Wezeman.
The United States retained the top spot at $ 610 billion, with unchanged military expenditure between 2016 and 2017. Saudi Arabia emerged as the third biggest spender in 2017 at $ 69.4 billion, with an increase of 9.2 per cent from 2016.
The report found a sharp drop in Russia’s military expenditure that dropped by 20 per cent from 2016 to stand at $ 66.3 billion.
