India’s military expenditure reached $83.6 billion in 2023, securing its position as the fourth-largest spender globally, according to the latest report by the Stockholm International Peace Research Institute (SIPRI). This substantial outlay primarily comprised personnel and operational costs, accounting for approximately 80% of the total military budget. The report attributed the growth in spending to the Indian government’s priority of bolstering the operational readiness of its armed forces amid ongoing tensions with neighboring countries. Despite the increase in overall spending, capital outlays for military procurement remained relatively stable at around 22% of the budget in 2023. Notably, 75% of these procurement funds were allocated to domestically produced equipment. This shift towards domestic sourcing reflects India’s commitment to self-reliance in defense development and production. The top five military spenders in 2023 – the United States, China, Russia, India, and Saudi Arabia – collectively accounted for 61% of global military expenditure. The United States maintained its dominant position with spending of $916 billion, while China’s military outlay was estimated at $296 billion. Russia’s military spending witnessed a significant 24% surge in 2023, reaching an estimated $109 billion. Ukraine, embroiled in conflict, emerged as the eighth-largest military spender in 2023, increasing its spending by an impressive 51%.
India Ranks Fourth in Global Military Spending
