India increased defence spending by 3.1 % in 2018: Report

London, April 30 (KMS): India has increased its defence spending by 3.1 per cent to USD 66.5 billion in 2018, according to a new report on global military expenditure released by a leading Swedish think tank, the other day.

The total world military expenditure rose to USD 1,822 billion in 2018, representing an increase of 2.6 per cent from 2017, The Stockholm International Peace Research Institute (SIPRI) said in its annual report.

The five biggest spenders in 2018 were the United States, China, Saudi Arabia, India and France, which together accounted for 60 per cent of global military spending, it said.

Military spending by the US increased for the first time since 2010, while spending by China grew for the 24th consecutive year, said the report.

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