India Ranks Fourth in Global Military Spending as U.S. Maintains Dominance: SIPRI Report

India solidified its position as the fourth-largest spender on military endeavors globally in 2023, according to a report by the Stockholm International Peace Research Institute (SIPRI), while the United States retained its top spot. India allocated $83.6 billion towards defense, marking a 4.2 percent increase from the preceding year. Meanwhile, the United States led the pack with an expenditure of $916 billion, constituting 37 percent of the world’s total military spending. China followed in second place with an estimated $296 billion.

In light of escalating tensions, particularly along the China border since the Ladakh standoff in May 2020, India has ramped up efforts to enhance its defense capabilities. The country’s strategic emphasis on modernization, covering a range of assets from fighter jets to unmanned technologies, highlights its proactive stance in addressing regional security concerns.

India’s defense budget for 2024-25 reflects a slightly lower allocation compared to the revised estimates of the previous year. Nevertheless, it still represents a significant increase from the budget estimates for 2023-24.

The latest data also revealed a substantial surge in arms exports by the United States between 2014–18 and 2019–23, with a notable 17 percent increase, cementing its status as the leading exporter worldwide. During 2019–23, the US supplied major arms to 107 countries, surpassing the collective efforts of its closest competitors.

On a global scale, amid disruptions to international peace, military spending soared by 7 percent to reach $2.43 trillion in 2023, marking the most substantial annual increase since 2009, as per SIPRI’s findings. The Democratic Republic of the Congo witnessed the largest percentage surge (+105 percent) in military expenditure among all nations in 2023, largely attributed to escalations between the government and non-state armed groups.

Established in 1966, the Stockholm International Peace Research Institute (SIPRI) is a global organization headquartered in Stockholm. It provides data, analysis, and recommendations pertaining to armed conflicts, military expenditure, arms trade, as well as disarmament and arms control.