The Stockholm International Peace Research Institute said the total world military expenditure climbed to $1, 822 billion. India was the world’s fourth largest military spender at 2018 after USA, China, and Saudi Arabia, based on information released by the Stockholm International Peace Research Institute in Stockholm. The institute report stated the total world military expenditure climbed to $1, 822 billion in 2018, an increase of 2.6percent from 2017. Military spending has increased for the second consecutive year. The four nations together with France accounted for 60% of global military spending.
The analysis found the US increased its military expenditure for the very first time because of 2010. China’s military spending rose for the 24th consecutive year. In 2018, the United States and China accounted for half the planet’s military spending, stated Nan Tian, a researcher with the SIPRI Arms and Military Expenditure program. The higher degree of world military expenditure in 2018 is largely the consequence of increases in spending by the 2 countries. The US spending 2018 is pegged at $649 billion that is nearly as far as the next eight spending states put together, the report stated. The escalation In US spending was driven by the execution from 2017 of Arms procurement programs under the Donald Trump government, says Aude Fleurant, the manager of the SIPRI AMEX program. India’s 2018 spending rose by 3.1percent to $66.5 billion while Pakistan’s increased by 11 percent to $11.4 billion. The report stated the tensions between the Asian nations were important factors in the escalation in cost in the region.