India becomes world's fifth largest military spender
Posted on:25 Apr 2017 13:14:46
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25 April 2017 Current Affairs:
India's military expenditure grew around 8.5 percent in 2016, making it the world's fifth largest spender at $55.9 billion, figures released by the Stockholm International Peace ResearchInstitute (SIPRI).
The USA remains the world's largest military spender registering a growth of 1.7 per cent between 2015 and 2016 to $611 billion.
China is second on the list spending $215 billion, an increase of 5.4 percent.
Russia increased its spending by 5.9 percent to $69.2 billion, making it the third largest spender.
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