The Stockholm International Peace Research Institute (SIPRI) has released its annual report on world military expenditure, revealing significant trends and spending patterns. In 2023, global military spending reached an all-time high of $2,443 billion, driven by geopolitical tensions and ongoing conflicts.
SIPRI’s report underscores the global surge in military expenditure, with India firmly positioned as a significant player. As geopolitical tensions persist, nations continue to allocate substantial resources to their defense sectors.
Let’s delve into the key findings of the SIPRI factsheet while keeping the radar focused on India.
Global Trends in Military Expenditure given by SIPRI
- Record High Spending: World military expenditure increased for the ninth consecutive year in 2023, surging by 6.8% compared to 2022. This growth rate was the steepest since 2009, pushing global spending to unprecedented levels.
- Top Spenders: The five largest spenders in 2023 were the United States, China, Russia, India, and Saudi Arabia. Together, they accounted for 61% of the world’s military spending. The USA and China remained the top two spenders, with the US spending $916 billion and China an estimated $296 billion1.
- India’s Position: With military expenditure of $83.6 billion in 2023, India secured the fourth position globally. This marked a 4.2% increase from 2022 and a remarkable 44% growth since 20142.
- Ukraine’s Surge: Notably, Ukraine became the eighth-largest military spender in 2023, increasing its spending by 51% to $64.8 billion, driven by the ongoing conflict with Russia1.
- NATO Member States: Military expenditure by NATO member states reached $1,341 billion in 2023, representing 55% of global spending. Eleven NATO members met the alliance’s 2% of GDP military spending target, up from the previous year.
What makes India spend a gigantic amount on its military?
India’s rising military expenditure can be attributed to several factors. The rising border tensions due to which India is facing ongoing border disputes with both Pakistan and China. These tensions occasionally escalate into armed conflicts, necessitating increased defense spending.
India is also actively modernizing its armed forces, investing in advanced weaponry, technology, and infrastructure. The country aims to enhance its defense capabilities and maintain regional stability. As a major player in the Indo-Pacific region, India seeks to safeguard its interests and maintain a strong defense posture. Geopolitical dynamics, including China’s assertiveness, contribute to India’s military spending. India’s commitment to modernization and security remains steadfast, reflecting its strategic priorities on the world stage.
Which countries are standing ahead of India in the queue, let’s look:
India’s military spending places it among the top global powers, but it still lags behind the United States, China, and Russia. Let’s delve into the specifics:
- United States (USA):The USA remains strong as the globe’s largest military spender, with an expenditure of a whopping $916 billion to its defense forces in 2023. This accounts for approximately 68% of total NATO military spending.
- China:China stands at the position of the world’s second-largest military spender. In 2023, it spent an estimated $296 billion on its defense, marking a 6.0% increase from the year 2022. China has consistently increased its military expenditure for straight 29 years.
- Russia:Russia has escalated its military spending by 24% in 2023, reaching an estimated $109 billion. Since 2014 (the year of the Crimea annexation), Russia’s military expenditure has risen by 57%. It constitutes 16% of total government spending. The Russian government when announced its proposed budget for 2024, for the first time in modern history, kept 6 percent of gross domestic product (GDP) to be spent on the military. “The war against Ukraine and the West is not only the Kremlin’s biggest priority; it is now also the main driver of Russia’s economic growth”, says the Carnegie Politika podcast.
- India:India secured the fourth position globally in 2023, with a military expenditure of $83.6 billion. This represents a 4.2% increase from 2022. While India’s spending is substantial, it still trails significantly behind the top three spenders.
- Other Notable Spenders:
- Saudi Arabia, the UK, Germany, Ukraine, France, and Japan also feature among the top military spenders, albeit at varying levels.
Look at the military expenditure of different continents!
As reported by SIPRI, here’s are region wise military expenditure analysis:
- Middle East: Military spending in the Middle East rose by 9.0% in 2023 reaching an estimated $200 billion in 2023. The total expenditure for the region is not specified in the provided data, but it contributed to the overall global increase. Spending went up in the three largest military spenders in the
region: Saudi Arabia, Israel, and Türkiye.
Iran was the fourth largest military spender in the Middle East in 2023. Its spending went up marginally (+0.6 percent) to $10.3 billion.
