India was ranked fourth in terms of military spending in 2017 globally*.
It registered an increase of 5.5% over spending in 2016, according to a SIPRI report . In percentage terms, spending showed a marginal decrease for the U.S., while Russia’s spending saw the biggest drop. Saudi Arabia saw the biggest increase among the top spenders.
The U.S. accounted for 35% of the world’s military spending, the largest, while China accounted for 13%. India's share of the global defence spend was 3.8%.
*Expenditure in terms of constant (2016) USD. If taken in terms of current USD, India ranks fifth on the list.
