India becomes world’s 4th largest defence spender
India has surpassed Russia, France, Japan and Saudi Arabia to become the world’s fourth largest defence spender, claimed the 2016 Jane's Defence Budgets report. With an expenditure of over ₹3 lakh crore in 2016, India is now behind the US, China and the UK. The report further estimated that India will surpass the UK in defence spending by 2018.