India becomes world's fourth largest defence spender

News: Following a 13.1% increase in its 2016-17 defence budget, India has become the world's fourth largest spender.

• India had spend $50.67 billion in 2016 on defence sector.

• In 2015, India spent $46.6 billion and was at sixth position.

• Increase to military pay and the introduction of one rank, one pay (OROP) are the main reasons for the higher rate of growth in defence budget.

• According to US research firm IHS Inc, procurement spending is expected to rise from $10.4 billion this year to around $15 billion by 2020.

Top Ten Defence Spender in the World:

1. United States: $622.03 billion
2. China: $191.75 billion
3. UK: $53.81 billion
4. India: $50.67 billion
5. Saudi Arabia: $48.68 billion
6. Russia: $48.44 billion
7. France: $44.34 billion
8. Japan: $41.64 billion
9. Germany: $35.75 billion
10. South Korea: $33.47 billion

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