According to a report published on 1st May by the SIPRI (Stockholm International Peace Research Institute), the total world military expenditure rose to $1,739 billion in 2017, a marginal increase of 1.1% in real terms from 2016.
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| Arjun Mk. II display at DefExpo India 2018. India spent $63.9 billion on its military in 2017, an increase of 5.5% compared with 2016 (Picture source: Army Recognition) |