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 Research Institute (SIPRI).
As per the figures, the US 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.
Important Takeaways from above News for NIACl Mains Exam-
- India becomes world’s fifth-largest military spender with an expenditure of $55.9 billion
- The figures were released by the Stockholm International Peace Research Institute (SIPRI)
- The USA topped the list and China and Russia was in second and third positions respectively.
If you have any other takeaways, do share with us in the comment section
Source- The Economic Times