India and China are among the five biggest military spenders in the world. 60 percent of the total global defence expenditure of nearly Rs 100 lakh crore ($1.739 trillion) in 2017 i.e. India, China, America, Saudi Arabia and Russia have spend Rs 60 lakh crore, which is more than 60 percent of the world’s combined economy.
Among them, India is at the bottom of the 5th rank in military expenditure. All countries have spent only 2.9 per cent of the total global GDP of 2017 to equip their army. The report was released on Wednesday by the Stockholm International Peace Research Institute (SIPRI), a Swedish arms watchdog.
It said the total global expenditure on military rose to $1.739 trillion which is an increase of 1.1 percent compared to the expenditure in 2016. China, which has the highest military expenditures for the past two decades, increased its military spending this time too.
“Continuing high world military expenditure is a cause for serious concern,” Jan Eliasson, chair of the SIPRI governing board, said.
“It undermines the search for peaceful solutions to conflicts around the world,” he said.
”The Indian government plans to expand, modernise and enhance the operational capability of its armed forces motivated, at least partially, by tensions with China and Pakistan,” the report said.