At $86.1 Billion, India Ranks Fifth In Global Military Spending

India-West News Desk

NEW DELHI — Global military spending surged to an unprecedented $2.72 trillion in 2024, marking the tenth consecutive year of growth, with the sharpest increase since 1988, according to the Stockholm International Peace Research Institute (SIPRI). India remains the fifth-largest military spender globally, allocating $86.1 billion to its armed forces, as highlighted in SIPRI’s latest report, Trends in World Military Expenditure, 2024, released on April 28.

While India’s military budget saw a modest 1.6% increase from 2023, it has risen by a significant 42% since 2015. This growth reflects India’s ongoing efforts to modernize its military in response to regional security challenges, particularly with neighboring nations. India’s defense spending now stands at 2.3% of its GDP.

In 2024, the United States, China, Russia, Germany, and India accounted for 60% of global military expenditure, with the U.S. spending a staggering $997 billion, nearly 12 times India’s budget. China’s military budget, at $314 billion, is roughly 3.6 times India’s, and continues to grow rapidly.

Despite ranking fifth in military spending, India remains heavily reliant on arms imports, especially for advanced systems like combat aircraft. To address this, the Indian government has enacted policies aimed at reducing dependence on foreign arms. By earmarking 75% of its capital expenditure to domestic military procurement, India has made strides in building its defense industrial base.

India’s drive for domestic defense production has significant implications for its economic landscape. While the government has made substantial investments in the defense sector, this focus on military spending could impact the social sector. Redirecting funds toward defense priorities — including advanced arms production — raises concerns about the potential squeeze on vital social programs like healthcare and education, which are also critical to the country’s long-term development.

As India continues to push for a stronger domestic defense manufacturing base, the report noted, its reliance on imports for some advanced systems persists.