India occupies No.6 slot in defence spending in the world
NEW DELHI: India occupied No.6 slot in defence spending in the world ahead of countries like Japan and France.
Stockholm International Peace Research Institute claimed that India’s defence spending increased by 3.1 percent as compared to France with 3 percent, Japan 2.4 and Israel 1 percent.
The institute claimed that Asia and Oceana is the fastest growing region in defence spending globally with 5.4 Percent as compared to war-torn Middle East which grew 4.1 percent in 2015.
India also remained the top buyer of arms with 14 percent of global sales from 2011-2015.
India has also signed several contracts with Russia, France, Japan and Israel to buy defence products which include fighter jets, gunship choppers and advanced missile defence systems.
The institute said “World military expenditure rose by 1 percent in 2015. The first increase in military spending since 2011, it reflects continuing growth in Asia and Oceana, Central and Eastern Europe, and some Middle East states.”
US remained No. 1 in defence spending despite of huge decrease in defence budget while China at No. 2 and Saudi Arabia reported at No. 3.