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India significantly increased its military expenditure in 2024, spending nearly nine times more than Pakistan, according to the latest edition of the "Trends in World Military Expenditure" report published by the Stockholm International Peace Research Institute (SIPRI). The report highlights global and regional defence spending patterns, underscoring how geopolitical tensions have driven substantial increases worldwide.
About SIPRI Report
The Stockholm International Peace Research Institute (SIPRI), a globally respected Swedish think tank, releases this annual report to track and analyze global military expenditure.
It offers a comprehensive overview of national defence budgets, trends across continents, and the strategic implications of military spending.
Global Overview: Military Spending Hits Record $2.46 Trillion
Total global defence spending soared to $2.46 trillion in 2024, marking a notable increase from $2.24 trillion in 2023.
As a share of global economic output, military spending rose to 2.3% of global GDP, a jump from 1.8% in 2023 and 1.6% in 2022.
This increase reflects rising global instability, driven by persistent conflicts and strategic rivalries.
Regional Trends And Key Drivers
Europe
Europe, including Russia, saw the sharpest increase, with spending rising 17% to $693 billion.
This surge was largely driven by the ongoing Russia-Ukraine war, prompting NATO members and neighbouring countries to ramp up their defence budgets.
United States
The United States remained the largest military spender, with its defence budget increasing by 5.7% to $997 billion.
This accounted for 66% of NATO’s total military spending and 37% of global expenditure, maintaining its strategic dominance.
Middle East
Military expenditure in the Middle East climbed to $243 billion, a 15% increase from 2023.
The escalation of the Israel-Hamas conflict, coupled with regional security concerns, led to substantial spending by countries like Israel and Lebanon.
Top 5 Global Military Spenders In 2024
According to SIPRI, five countries accounted for 60% of all military expenditure worldwide:
| Rank | Country | Share of Global Spending |
|---|---|---|
| 1 | United States | 37% |
| 2 | China | 12% |
| 3 | Russia | 5.5% |
| 4 | Germany | 3.3% |
| 5 | India | 3.2% |
India’s Defence Expenditure: Rising Strategic Commitment
India retained its position as the fifth-largest military spender in the world.
In 2024, India allocated $86.1 billion to defence, marking a 1.6% increase over 2023 and a 42% rise compared to previous years.
This upward trend reflects India's growing focus on modernizing its armed forces amid tensions with neighbouring countries and strategic competition in the Indo-Pacific.
Significantly, India’s military budget was almost nine times higher than Pakistan’s, indicating a widening gap in regional military capabilities.
China’s Three-Decade Surge In Defence Spending
China’s defence budget reached an estimated $314 billion in 2024 a 7% rise from the previous year.
This marked the 30th consecutive year of increased military expenditure for China.
China was responsible for 50% of total defence spending in Asia and Oceania, reaffirming its growing influence in the region.
Strategic Implications
The SIPRI report underscores how rising geopolitical instability from Eastern Europe to the Middle East and the Indo-Pacific — is reshaping defence priorities globally. As countries invest more in defence to safeguard national interests, the global arms race appears to be accelerating.
India’s steady increase in defence spending reflects its dual objective of maintaining regional stability and countering strategic challenges posed by both Pakistan and China.
Conclusion
The 2024 SIPRI report paints a clear picture of a world increasingly defined by military build-ups and heightened tensions. With India among the top five military spenders and significantly outpacing Pakistan in defence investments, the subcontinent continues to remain a focal point in global security dynamics.
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