India ranks sixth in its military spending

dynamitenews.com
New Delhi/ 8 April 2016. According to a study by Stockholm International Peace Research Institute (SIPRI), India reached the sixth position in worldwide ranking of military spending in 2015. India had 3.1% share of world military expenditure of the 15 States with the highest spending in 2015.

SIPRI said Indian military spent $51.3 billion in 2015,  an increase by 0.4% in comparison to 2014. In 2016, however, they want to increase military expenditure by about 8%.  

India ranks among the top 10 countries in the world in terms of its military expenditure and import of defence equipments. It allocates about 1.8% of its gross domestic product to defence spending, of which 36% is assigned to capital acquisitions. 

Despite, only 35% of defence equipments are manufactured in the country mainly under public sector.