Global Military Expenditure Rises: India Top 3, US-China Rank First and Second

BanglaHunt Desk: Global military spending increases. India is in the top 3, followed by the US and China. According to the Stockholm-based think tank, there has been fierce competition between India and China over global military spending by 2012. According to this, India has become the third largest country in the world in terms of global military spending, followed by China and the United States. For the first time, two senior Asian countries, China and India, have been ranked among the top three countries in the world in terms of military spending.

A study released by the Stockholm-based think tank SIPRI (Stockholm International Peace Research Institute) on Monday found that global military spending rose to $ 1.01 billion in 2014. And has been the third largest military spender. China's military spending reached $ 21 billion, an increase of 5.1 percent, and India's military spending rose 6.7 percent to $ 1.1 billion. Simon is a senior researcher. Weizmann said the main reason for India's increase in military spending was tensions and rivalries with China and Pakistan.

Russia and Saudi Arabia are among the top five countries, with the United States, China, India, Russia and Saudi Arabia spending 2% of the total, the report said. In addition to China and India, Japan ($ 48.7 billion) and South Korea ($ 43.9 billion) were the highest military spenders in Asia. In 2016, Russia was the world's fourth largest donor, increasing its military spending by 4.5 percent to 85.1 billion.

India Increases Security Expenditure 2016-17 The then Union Finance Minister Arun Jaitley had allocated Rs 359,000 crore in the 2016 Union Budget for the development of the Indian Armed Forces, which was about 6 per cent more than the previous fiscal. In September 2016, India entered into a direct agreement with the French government to purchase 36 new Rafale fighter jets for 7.8 billion euros.