According to a Stockholm International Peace Research Institute (SIPRI) report India has become the third largest military spender in the world, after the US and China.
Daily Current Affairs Quiz 2020
Key-Points
For the first time that India and China are among the top three military spenders.
It highlighted that India’s tensions and rivalry with Pakistan and China are among the main reasons for its increased military expenditure.
The military spending of India grew by 6.8% to $71.1 billion in 2019. This was the highest military spending in South Asia.
The report stated that the total global military expenditure rose to $1,917 billion in 2019, which is an increase of 3.6% from 2018 and the largest annual growth in spending since 2010.
