An estimated $1.822 trillion spent around the world; Israel ranks 17th out of top 40 military spenders for a second year in a row.
Israel becoming one of the largest arms suppliers to India, which has spent some $100 billion on defense in the past decade.
India and Israel are set to sign an inter-government agreement once the price of the Spike is finalized by the negotiating committee.
New Delhi will buy Spike antitank guided weapons, media reports say
Rumors that the deal with Rafael to buy 8,000 Spike missiles was cancelled first surfaced in November.
Defense ties between Israel and India have grown in the past few years, with Delhi becoming a major purchaser of Israeli military hardware.