SIPRI 2024: India’s Military Spending Hits $86.1 Billion
Why in the news
The Stockholm International Peace Research Institute released its 2024 figures just as India-Pakistan tension rose after the Pahalgam attack.
Key facts
- India: $86.1 billion, up 1.6%, ranked 5th.
- Top five: United States, China, Russia, Germany, India; 60% of the world total ($1,635 billion).
- Indian priorities: modernisation, border security, cyber capability and indigenisation under Make in India.
Other major spenders
| Country or region | Spending | Notes |
|---|---|---|
| China | About $314 billion, +7% | 30 straight years of increases; half of Asia and Oceania’s total |
| Russia | $149 billion, +38% | 7.1% of GDP, 19% of government spending |
| Ukraine | $64.7 billion, +2.9% | 34% of GDP, highest burden globally |
| Europe (with Russia) | $693 billion, +17% | Above Cold War levels |
Significance
- India’s budget reflects regional security and force modernisation needs.
- The India-Pakistan gap shows a large military imbalance.
- China’s rise challenges stability in the Indo-Pacific.
Exam angle
- Report: SIPRI Military Expenditure data 2024.
- India’s rank: 5th.
- Highest military burden: Ukraine at 34% of GDP.