- According to a report published by the Stockholm International Peace Research Institute(SIPRI),India was the world’s fourth biggest military spender in 2018 behind the United States,China and Saudi Arabia.
- The report has said that the global military spending is 2.1% of the world Gross Domestic Product(GDP).However,in India,the defence budget has remained less than 2% of the GDP.
- The report adds that the United States has remained the world’s largest spender on defense in 2018 deploying more money for weapons than the next eight countries combined.However,Russia’s defense spending has fallen for the second year in a row.
- Further,the report shows that China’s expenditure is much greater than the collective expenditure of India,Japan,South Korea,and Australia.The report said that China’s military expenditure has increased for the 24th consecutive year and its spending in 2018 was almost 10 times higher than that in 1994.
- According to Defence experts,Indian armed forces drastically needs to slash their non-operational expenditure and manpower.It also needs to build a strong defence-industrial base shedding it strategically vulnerable position of being the world’s second largest arms importer.
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