Stockholm International Peace Research Institute (SIPRI) Report

Current Context: According to the Stockholm International Peace Research Institute (SIPRI), India’s military expenditure in 2024 rose to $86.1 billion, making it the fifth-largest military spender globally—and nearly nine times higher than Pakistan’s $10.2 billion.

About

• Database Coverage: Military expenditure data from 1949 to 2024, updated annually

Data Includes:

• Figures in local currency and US dollars (both current and constant)
• Military spending as a share of GDP and total government expenditure
• Per capita military expenditure

Key Findings of the 2024 Report

• Global Military Spending: Reached an all-time high of $2,718 billion
• Global Military Burden: 2.5% of the world’s GDP
• Top 5 Military Spenders (account for 60% of global total):
• United States>China >Russia – $149 billion (+38% increase)>Germany>India – $1 billion
• Ukraine: Spent $64.7 billion, amounting to 34% of its GDP – the highest military burden globally

Europe: Recorded the largest regional increase in spending (+17%) due to the Ukraine war