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2015 report on “World Military Expenditure” released by SIPRI

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In accordance with the report released by Stockholm International Peace Research Institute (SIPRI), India has been ranked at 6th Position in the 2015 report on Trends in world military expenditure.

  • The chart has been topped by the USA as the world’s biggest spender in 2015.
  • In comparison with the previous year ranking India has climbed one spot in the worldwide rankings in terms of military expenditure.
  • Top 5 countriesUSA, China, Saudi Arabia, Russia and UK.

2015 report on World Military Expenditure released by SIPRIReport w.r.t. India:

  • Total Total India spending – 51.3 billion US dollars
  • Share of world military expenditure – 3.1%
  • Share of GDP – 2.3%
  • Further plans – India plans to ↑ military expenditure by about 8% in 2016.

Global Highlights of report:

  • Increase in military spendings – Expenditure on world military mount up to 7 trillion US dollars in 2015 showing 1% ↑from previous year since 2011.
  • Indicated growth – The increase indicated proceeding with development in Asia and Oceania, Central and Eastern Europe and some Middle Eastern states.
  • Countries with decreased spending – While some countries have shown elevation in the growth in military expenditure, there are like Africa, and Latin America and the Caribbean which has shown downgraded their expenditure.
  • World’s biggest spenderUnited States again sat as the world’s biggest spender of 2015 inspite its expenditure trimmed by 4% to 596 billion US dollars.
  • Surge in military spending – Due to high oil prices and new oil discoveries and exploitation, the military spendings surged in many countries previously.
  • Sudden reduction – Spending in Venezuela and Angola had shown a sudden reduction of 64% and 42% respectively due to oil revenue. Bahrain, Brunei, Chad, Ecuador, Kazakhstan, Oman and South Sudan have also shown downgradation.
  • Tension between nations Increases expenditure – Heightening tensions between China and various countries in the region contributed to substantial increases in expenditure by Indonesia, the Philippines and Vietnam.

About SIPRI:
Stockholm headquartered monitors the developments in military expenditure worldwide. It also maintains the comprehensive, consistent and extensive data source available in military expenditure.