India fourth largest arms spender in world in 2023: SIPRI

According to a Stockholm International Peace Research Institute (SIPRI) report published on 22 April 2024 ,India was the fourth largest military spender in the world in 2023 after the United States ,China and Russia. The Indian expenditure on military 2023 was $83.6 billion .In 2022 also India was the fourth largest military spender in the world.

Increase in Indian military expenditure 

The Indian government has increased its military spend in recent years .  In the interim Union Budget of 2024-25 the government of India  allocated Rs 6.21 lakh crore for defence spending. The allocation was marginally lower (0.37%) than last year’s revised estimates.

The 2024-25 allocation for defence accounts for 1.89% of India's GDP. 

The main reason for the increase in Indian defence expenditure is due to the ongoing tense relation with China and the government policy to modernise the armed forces. 

After the Galwan clash with the Chinese troops in May 2020 India has prioritized  infrastructure building along the Chinese border. The government has also focused on modernising the modernisation of armed forces by equipping it with rocket, missile, fighter aircrafts, artillery,naval warships etc.

Deterioration in global peace and security fuels military expenditure 

According to SIPRI, the total global military expenditure increased by 6.8% to $2443 billion in 2023. This was the highest annual percentage growth in global military expenditure since 2009.

There has been a marked increase in the military expenditure across all the regions of the world  due to deterioration in global peace and security .

The increase in military expenditure was particularly high in Europe, Asia and Oceania and the Middle East(West Asia).

The sharp increase in the Chinese military budget has in turn led to an increase in the defence budget of India, Japan, Taiwan. The war in Ukraine has increased military spending in Europe.

Largest military spender in the world

According to SIPRI, in 2023, the following were the top military spenders in the world:

1. United States of America - It retained its status as the world’s largest  military spender in 2023. The US spent $916 billion on military in 2023, an increase of 2.3 per cent as compared to last year..
2. China's military budget was estimated at  $296 billion in 2023, an increase of 6.0 per cent from 2022. This was the 29th consecutive annual increase in China’s military expenditure. Half of the military expenditure in the Asia and Oceania region was done by China.
3. Russia’s military spending increased by 24 per cent to an estimated $109 billion in 2023. In 2023 Russia’s military spending was around 16 per cent of total government spending, and its military as a share of gross domestic product, GDP) was 5.9 per cent. 
4. India-India was the fourth largest military spender globally in 2023. India spent  $83.6 billion on its military in 2023 an increase of 4.2 per cent as compared to 2022.
5. Saudi Arabia - estimated expenditure of $75.8 billion
6. United Kingdom -$ 74.9 billion 
7. Germany -$66.8 billion 
8. Ukraine -$64.8 billion 
9. France -$61.3 billion
10. Japan- $50.32 billion

Other Highlights of the Report 

• According to SIPRI the largest percentage increase in military spending by any country in 2023 was seen in the Democratic Republic of the Congo (105 percent increase). The Government in Congo is engaged in conflict with various armed groups in the country.
• In  2023, total military expenditure accounted for 2.3 per cent of the global gross domestic product (GDP),
• The world's five largest military spenders in 2023 ,the United States, China, Russia, India, and Saudi Arabia, collectively accounted for 61 per cent of global military spending.

Stockholm International Peace Research Institute (SIPRI)

Stockholm International Peace Research Institute (SIPRI) is a research institute which was set up in 1966 at Stockholm, Sweden. Its main area of research is global or regional conflicts, armaments, arms control and disarmament.

Headquarters: Stockholm, Sweden