rahul1117kumar
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India now belongs to the list of top five defence spenders in the world with more than $50 billion devoted to its military budget, placing the South Asian country in fourth place, according to the annual Jane’s Defense Budgets Report.
“Defence spending returned to a healthy rate of growth in 2016, kicking off what we expect to be a decade of stronger global defence spending,” said Fenella McGerty, principal analyst at IHS Jane’s. “Defence spending should recover to pre-financial crisis levels by 2018.”
According to the report, global defence spending rose by 1 per cent to $1.6 trillion (Rs 108 lakh crore) in 2016, against a 0.6 per cent increase in 2015. The report also revealed that the United States was still king with its expenditure representing about 40 per cent of the total Global Defence budget. India overtook Saudi Arabia and Russia to become one of the top five defence spenders globally.
TOP DEFENCE SPENDERS
2015
Country Amount in $ (in million)
1 United States 615,746 billion
2 China 180,523
3 United Kingdom 53,532
4 Russian Federation 51,844
5 Saudi Arabia 50,531
6 India 46,645
7 France 44,244
8 Japan 42,192
9 Germany 35,935
10 Korea, South 32,275
2016
Country Amount in $ (in million)
1 United States 622,035 billion
2 China 191,752
3 United Kingdom 53,811
4 India 50,678
5 Saudi Arabia 48,686
6 Russian Federation 48,446
7 France 44,349
8 Japan 41,686
9 Germany 35,754
10 Korea, South 33,477
India outguns Russia to become 4th largest defence spender - Rediff.com India News
“Defence spending returned to a healthy rate of growth in 2016, kicking off what we expect to be a decade of stronger global defence spending,” said Fenella McGerty, principal analyst at IHS Jane’s. “Defence spending should recover to pre-financial crisis levels by 2018.”
According to the report, global defence spending rose by 1 per cent to $1.6 trillion (Rs 108 lakh crore) in 2016, against a 0.6 per cent increase in 2015. The report also revealed that the United States was still king with its expenditure representing about 40 per cent of the total Global Defence budget. India overtook Saudi Arabia and Russia to become one of the top five defence spenders globally.
TOP DEFENCE SPENDERS
2015
Country Amount in $ (in million)
1 United States 615,746 billion
2 China 180,523
3 United Kingdom 53,532
4 Russian Federation 51,844
5 Saudi Arabia 50,531
6 India 46,645
7 France 44,244
8 Japan 42,192
9 Germany 35,935
10 Korea, South 32,275
2016
Country Amount in $ (in million)
1 United States 622,035 billion
2 China 191,752
3 United Kingdom 53,811
4 India 50,678
5 Saudi Arabia 48,686
6 Russian Federation 48,446
7 France 44,349
8 Japan 41,686
9 Germany 35,754
10 Korea, South 33,477
India outguns Russia to become 4th largest defence spender - Rediff.com India News
