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US India among top 5 military spending nations: Report
India solidifies position as fourth-largest spender, US dominates NATO Allocations
Representative image / Shutterstock
India reinforced its status as the fourth-largest military spender globally in 2023, while the United States topped the list, a Stockholm International Peace Research Institute (SIPRI) report found.
India spent US$83.6 billion towards defence, reflecting a 4.2 percent increase from the previous year. Meanwhile, the United States at US$916 billion representing 37 percent of the world’s military expenditure. China came second with an estimated $296bn.
Amidst escalating tensions, especially along the China border since the Ladakh standoff in May 2020, India has intensified efforts to bolster its defence capabilities. The nation's strategic focus on modernization, spanning various assets from fighter jets to unmanned capabilities, underscores its proactive approach to address regional security challenges.
Notably, India's defence budget for 2024-25 reflects a marginally lower allocation than the previous year's revised estimates but still demonstrates a significant increase from the budget estimates for 2023-24.
The latest data revealed a significant surge in arms exports by the United States between 2014–18 and 2019–23, with a notable 17 percent increase, solidifying its position as the world’s top exporter. In 2019–23, US supplied major arms to 107 countries, surpassing the combined efforts of its closest competitors.
Globally as international peace was disrupted, military spending surged by 7 percent to $2.43 trillion in 2023, recording the largest annual increase since 2009, SIPRI found. The Democratic Republic of the Congo recorded the largest percentage increase (+105 percent) in military spending by any country in 2023, largely due to escalations between the government and non-state armed groups.
The Stockholm International Peace Research Institute (SIPRI) is an international organization headquartered in Stockholm. Established in 1966, it offers data, analysis, and suggestions regarding armed conflicts, military spending, arms trade, as well as disarmament and arms control.
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