India among top five military spenders as global defence budgets surge: SIPRI

New Delhi, April 28: India is among the world’s top five military spenders, according to fresh data released by the Stockholm International Peace Research Institute (SIPRI) on Monday. India’s defence expenditure grew by 1.6 per cent in 2024, reaching $86.1 billion, making it the fifth largest military spender globally.

Together with the United States, China, Russia, and Germany, India accounted for 60 per cent of the world’s total military expenditure, with their combined spending amounting to $1635 billion. SIPRI’s latest data highlights a world steadily investing more into defence—India included—as security considerations increasingly dominate national priorities.

The global picture shows an unprecedented surge. World military expenditure rose to $2718 billion in 2024, a 9.4 per cent increase from 2023—the steepest year-on-year rise since the end of the Cold War. This marks the tenth consecutive year of rising global military budgets, with military spending increasing across every region, particularly in Europe and the Middle East.

“Over 100 countries around the world raised their military spending in 2024. As governments increasingly prioritize military security, often at the expense of other budget areas, the economic and social trade-offs could have significant effects on societies for years to come,” noted Xiao Liang, SIPRI researcher.

European and NATO Spending Push Global Numbers

Europe (including Russia) led the surge, with military expenditure rising by 17 per cent to $693 billion. Russia alone increased its defence budget by 38 per cent, reaching $149 billion—equivalent to 7.1 per cent of its GDP and a doubling of its spending since 2015.

Ukraine, despite economic constraints, raised its military spending by 2.9 per cent to $64.7 billion, equivalent to 34 per cent of its GDP, the highest military burden globally.

Germany’s spending rose by a remarkable 28 per cent to $88.5 billion, becoming the largest spender in Western Europe and the fourth globally, while Poland’s military budget grew by 31 per cent to $38 billion.

Among NATO members, military spending totalled $1506 billion, accounting for 55 per cent of global expenditure. Notably, 18 NATO countries (up from 11 in 2023) met the alliance’s guideline of spending at least 2 per cent of GDP on defence.

The United States maintained its dominance, spending $997 billion—37 per cent of global spending—with much of the increase directed towards modernizing its nuclear arsenal and maintaining a strategic edge over China and Russia.

Asia-Pacific Focus: India Holds Steady Amid Regional Buildup

In Asia and Oceania, China, India, and Japan continued their military expansions. China, the world’s second-largest military spender, increased its defence budget by 7 per cent to an estimated $314 billion, marking the 30th consecutive year of military growth. China alone accounted for half of Asia and Oceania’s total military spending.

Japan’s military budget also rose steeply by 21 per cent to $55.3 billion, its largest annual jump since 1952, while Taiwan recorded a modest 1.8 per cent increase to $16.5 billion.

Amid these developments, India’s military expenditure growth of 1.6 per cent is noteworthy. As regional tensions simmer, particularly across the Indo-Pacific, India’s commitment to defence modernization and strategic capability building remains steadfast.

“Major military spenders in the Asia–Pacific region are investing increasing resources into advanced military capabilities. With several unresolved disputes and mounting tensions, these investments risk sending the region into a dangerous arms-race spiral,” warned Nan Tian, Director of SIPRI’s Military Expenditure and Arms Production Programme.

West Asia or Middle East and Other Global Trends

The Middle East also witnessed a sharp rise in military spending, reaching $243 billion in 2024—a 15 per cent increase. Israel led the spike with a 65 per cent surge to $46.5 billion, amid intensified conflicts in Gaza and Lebanon, raising its military burden to 8.8 per cent of GDP. Lebanon increased its defence spending by 58 per cent to $635 million.

Iran, however, saw its military expenditure decline by 10 per cent to $7.9 billion, constrained by international sanctions.

Elsewhere:

• The United Kingdom spent $81.8 billion (up 2.8 per cent), ranking sixth globally.

• France’s defence budget rose by 6.1 per cent to $64.7 billion.

• Saudi Arabia, the largest military spender in the Middle East and seventh globally, spent $80.3 billion—a modest 1.5 per cent rise.

• Myanmar registered the highest regional increase in Asia with a 66 per cent jump to $5 billion, amid escalating internal conflicts.

• Mexico’s military spending rose sharply by 39 per cent to $16.7 billion.

• In Africa, overall military expenditure reached $52.1 billion, 3 per cent higher than in 2023.
Global military spending now represents 2.5 per cent of global GDP, up from previous years. As nations prioritise military budgets amid geopolitical uncertainties, the long-term social and economic impacts remain a concern.

Box item

Global Military Spending 2024: Top 5 countries: US, China, Russia, Germany, India — 60% of global total ($1635 billion combined).

Global total: $2718 billion (up 9.4% from 2023) — steepest rise since the Cold War.

United States: $997 billion (+5.7%), 37% of global spending.

China: $314 billion (+7.0%), second-largest globally.

Russia: $149 billion (+38%), 7.1% of GDP.

Germany: $88.5 billion (+28%), highest in Western Europe.

India: $86.1 billion (+1.6%), 5th largest globally.