India named world's 5th largest military spender
India has become the world's fifth-largest military spender, witnessing a growth of around 8.5% in expenditure in 2016, a report has claimed. According to the figures released by the Stockholm International Peace Research Institute, India's defence expenditure stood at ?3.6 lakh crore in 2016. Meanwhile, US remained the world's largest military spender, followed by China, Russia, and Saudi Arabia.