A new report by Stockholm International Peace Research Institute (SIPRI) says that the five biggest spenders on military in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60 per cent of global military spending. It adds, at $66.5 billion, India was the fourth-largest spender in 2018.
The report says, adding, “Military spending in Asia and Oceania was $507 billion in 2018 and accounted for 28 per cent of global military spending. Five of the top 15 global spenders in 2018 are in this region: China (rank 2), India (rank 4), Japan (rank 9), South Korea (rank 10) and Australia (rank 13).”
Pointing out that “India’s military spending rose in 2018 for the fifth consecutive year, and was 3.1 per cent higher than in 2017”, the report says, “At $66.5 billion, India’s spending was 29 per cent higher than in 2009.”
“Despite this rise”, the report says, “India’s military burden in 2018 was at one of its lowest levels since the early 1960s: 2.4 per cent of GDP compared with 2.9 per cent in 2009. Increases in Indian military expenditure are largely motivated by tensions and rivalry with Pakistan and China.”
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