India emerged as the fifth-largest military spender in the world in 2024, allocating $86.1 billion to defense, nearly nine times more than Pakistan’s $10.2 billion, according to a report released Monday by the Stockholm International Peace Research Institute (SIPRI). The findings underscore a sharp regional imbalance and come amid renewed hostilities following a major terrorist attack in Kashmir.
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India’s military budget grew by 1.6% year-on-year, with a 42% increase since 2015, reflecting the country’s focus on modernizing its armed forces and bolstering defense capabilities amid mounting cross-border threats.
Pakistan’s spending, in comparison, remained modest, even as regional tensions intensified. The stark disparity in defense budgets comes at a time of growing military preparedness and strategic posturing in South Asia.
Globally, military expenditure soared to $2,718 billion in 2024, a 9.4% increase from the previous year and the fastest annual rise since the Cold War’s end. The top five spenders — the United States, China, Russia, Germany, and India — accounted for 60% of the total global defense outlay, collectively investing $1.635 trillion.
“Spending has increased every year for a full decade, rising by 37% since 2015,” the SIPRI report highlighted.
Amid escalating regional conflicts, military budgets swelled across continents:
- China maintained its position as Asia’s top spender, increasing defense outlays by 7% to $314 billion.
- Russia allocated $149 billion, up 38% from 2023, now representing 7.1% of its GDP.
- Germany’s military expenditure surged by 28% to $88.5 billion, making it the largest spender in Western Europe.
- Ukraine, still at war, allocated $64.7 billion — 34% of its GDP, the highest military burden globally.
Back home, India’s defense boost follows the deadliest terror attack since 2008, with 26 civilians killed near Pahalgam in Jammu & Kashmir. India has blamed Pakistan-based terrorists and retaliated with diplomatic sanctions, including suspension of the Indus Waters Treaty and closure of the Attari checkpost.
The SIPRI report illustrates a world arming itself at an unprecedented pace, with South Asia once again emerging as a flashpoint in global security dynamics.
