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 â¹3.6 lakh crore in 2016. Meanwhile, US remained the world's largest military spender, followed by China, Russia, and Saudi Arabia.