2015 report on “World Military Expenditure” released by SIPRI

In accordance with the report released by Stockholm International Peace Research Institute (SIPRI), India has been ranked at 6^th 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 countries – USA, China, Saudi Arabia, Russia and UK.

Report 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 spender – United 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.