Weekly Current Affairs

World military spending up in 2015, India in sixth position [Defence]

  • India is the sixth largest military spender in 2015 having spent $51.3 billion even as the world spent $1,676 billion reversing a global trend which was on the decline since 2011, as per the latest report from the Stockholm International Peace Research Institute (SIPRI).
  • India moved one rank up from last year accounting for 3.1 percent of global military expenditure. Over a ten-year period from 2006-15 this represents a 43 per cent jump.
  • India is also ahead of countries like France, Germany and Israel who happen to be among its top arms suppliers.
  • World military expenditure rose by 1 per cent in 2015, the report said it reflects continuing growth in Asia and Oceania, Central and Eastern Europe, and some Middle Eastern states.
  • 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.
  • 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.
  • China's expenditure rose by 7.4 per cent to $215 billion.