Looking beyond Europe: Nato defence spending hike could impact exporters

Last week, the member countries of the military alliance North Atlantic Treaty Organisation (Nato) decided to hike their defence related spending gradually to 5 per cent of their gross domestic product (GDP) in the next few years. It has implications for global trade and for India.

 

The Nato decision is a response to fears of security threats from Russia, which is enhancing its war capabilities and apprehensions that the US cannot be relied upon to defend Europe. Russia has said that it is not against Nato  but only against its expansion to its neighbouring countries. China has always held that