India acquired fourth rank in Defence spenders:
India is among the world’s top five defence spenders with its military budget at USD 50.7 billion, overtaking Saudi Arabia and Russia.
The US, China and the UK remain the top three defence spenders while India has the fourth largest military budget, followed by Saudi Arabia and Russia, India spent USD 50.7 billion this year on defence, up from USD 46.6 billion last year. India is set to overtake Britain with the third-largest defence budget by 2018 as a result of its modernisation drive.
The US remained way ahead of the world with a budget of USD 622 billion, followed by China at USD 191.7 billion while the UK spent USD 53.8 billion on defence this year, Saudi Arabia USD 48.68 billion and Russia USD 48.44 billion.