Fall in India’s military spend

India decreased military spending by 2.8 per cent in 2012 — reflecting the concern of the Indian armed forces that modernisation was slowing down — but it remains one of the top five importers of major conventional weapons. The rate of decrease in India’s military spending was more than that of worldwide military expenditure that fell by 0.5 per cent in real terms, according to a report of the Stockholm International Peace Research Institute (SIPRI), a global watchdog on arms transfers, released on Monday.

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