Indian Army's T-90 Bhishma tanks (front) are driving during the Republic Day parade in New Delhi, India, January 26, 2016. Reuters file
Bloomberg: India Joins World's Top Five Defense Spenders, Surpassing France
* Beijing spends far more on military than any other Asian power
* Worldwide military spending 2.2 percent of global GDP: SIPRI
India has joined the U.S. and China as one of the world’s five biggest military spenders, reflecting geopolitical tensions as well as the country’s reliance on imported weapons and sprawling personnel costs.
New Delhi’s defense spending rose by 5.5 percent to $63.9 billion in 2017 and has now passed France, the Stockholm International Peace Research Institute said in a report released Wednesday.
Worldwide military spending rose marginally last year to $1.73 trillion, or roughly 2.2 percent of global gross domestic product, the group said. The list of the world’s biggest military spenders has remained consistent in recent years, dominated by the U.S. and China, which spent $610 billion and $228 billion respectively, according to SIPRI, which researches global arms spending.
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WNU Editor: Here is an easy prediction .... this budget will continue to grow because of China's military buildup, and the never-ending tensions with Pakistan.
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