India was sixth biggest military spender in 2015
As per the reports published by Stockholm International Peace Research Institute (SIPRI), India is the sixth largest military spender in 2015 having spent $51.3 billion moving one rank up from last year. India's total defence expenditure accounts for 3.1 percent of global military expenditure of $1,676 billion.
As per SIPRI, India plans to increase military expenditure by about 8% (in real terms) in 2016, partly to fund many large ongoing and planned procurement programmes.
India's Neighbouring countries
Pakistan did not make it to a list of 15 countries with the highest military expenditure in 2015. It spent $9.5 billion on military expenses, up from its expenditure of $8.7 billion in 2014.
China accounts for the highest military expenditure in the region an estimated $215 billion, or 49% of regional spending. China's military expenditure was four times that of India, which was the region’s second-largest spender.
Rising military spending in Indonesia, Philippines, Japan and Vietnam reflected tensions with China and North Korea. It should be noted that Afghanistan has reduced it's military spending by 19pc to $199 million in 2015.
|1.||USA||596 billion dollar|
|2.||China||215 billion dollar|
|3.||Saudi Arabia||87.2 billion dollar|
|4.||Russia||66.4 billion dollar|
|5.||UK||55.5 billion dollar|
|6.||India||51.3 billion dollar|
|7.||France||50.9 billion dollar|
|8.||Japan||40.9 billion dollar|
|9.||Germany||39.4 billion dollar|
|10.||South Korea||36.4 billion dollar|
The U.S. remained by far the world’s largest spender in 2015 despite its defence expenditure falling by 2.4 per cent to $596 billion followed by China, Saudi Arabia, Russia and U.K.
Saudi Arabia’s grew by 5.7% to $87.2 billion—making it the world’s third-largest spender—and Russia’s increased by 7.5% to $66.4 billion. However Russia and Saudi Arabia are planning cuts in 2016.
World military expenditure totalled $1.67 trillion, a rise of one per cent from the previous year. This was the first increase in military spending since 2011, reflecting continuing growth in Asia and Oceania, Central and Eastern Europe, and some Middle Eastern states.The Military expenditure include all current and capital expenditure on:
♦ The armed forces, including peace keeping forces
♦ Defence ministries and other government agencies engaged in defence projects
♦ Paramilitary forces when judged to be trained, equipped and available for military operations
♦ Military space activities
India ranks among the top 10 countries in the world in terms of its military expenditure and import of defence equipment. It allocates about 1.8% of its gross domestic product to defence spending, of which 36% is assigned to capital acquisitions.
Only about 35% of defence equipment is manufactured in India, mainly by public sector units. Even when defence products are made locally, there is a large import component of raw material at both the system and sub-system levels.