Bengaluru: India ranked fourth in military spending at $83.6 billion after the United States, China and Russia in 2023.
“It’s military expenditure was 4.2 per cent higher than in 2022,” stated the Stockholm International Peace Research Institute (SIPRI) in its just released Military Expenditure Database for 2023.
According to the study, in 2023, the “global military expenditure rose for the ninth consecutive year to an all-time high of $2443 billion, which is an increase of 6.8 per cent from 2022. For the first time since 2009, military expenditure went up in all five of the geographical regions defined by SIPRI, with particularly large increases recorded in Europe, Asia and Oceania and the Middle East.”
The year 2023 saw the “steepest year-on-year increase since 2009. The 10 largest spenders in 2023—led by the United States, China and Russia — all increased their military spending,” added the study.
According to SIPRI the “unprecedented rise in military spending was a direct response to the global deterioration in peace and security,” said Nan Tian, senior researcher, Military Expenditure and Arms Production Programme, SIPRI. He cautioned that the “states are prioritizing military strength but they risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape.”
Meanwhile, on India ranking as the fourth highest military spender globally, Lt Gen Abhay Krishna said this “statistic does not offer a fair metric for comparison.”
Krishna is the former Army commander of South Western, Eastern and Central Army Commands and ex chief commissioner, West Bengal Right to Public Service Commission.
He explained that “despite witnessing a consistent and significant rise in defence expenditure in recent fiscal years, India’s allocation for FY 2024-25 stands at approximately 1.9 pc of the GDP. In contrast, many developed nations allocate between two to five pc of their GDPs towards military spending.”
“While being the fourth highest at $ 83.6 bn military expenditure is impressive but we are way less than what it should have been, especially under the conflicts unfolding in our backyard ranging from Levant to South China Sea,” said Krishna.
“India is turning into a fastest growing economy globally surpassing China. With a GDP of $ 3.7 trillion (2023) and as per the latest report of Ministry of Defence (MoD), exports related to defence and technology have grown by 31 times in the last 10 years to stand at Rs 21,083 crore ($2.63 bn) in 2023-24,” he added.
“To ensure adequate defence capabilities and strategic readiness, India must, therefore, aim for a budget aligned with the 2.5pc to 3pc range of GDP, in line with global standards and regional peers,” observed the former general.
Highlights:
*Military spending by the USA rose by 2.3 pc to reach $916 billion, representing 68 pc of total NATO military spending.
*China, the world’s second largest military spender, allocated an estimated $296 billion to the military, an increase of 6.0pc from 2022. China accounted for half of total military spending across the Asia and Oceania region. Several of China’s neighbours have linked their own spending increases to China’s rising military expenditure.
*31 NATO members accounted for $1341 billion, equal to 55 pc of the world’s military expenditure.
*Combined share of NATO was 28 pc, the highest in a decade. The remaining 4 pc came from Canada and Türkiye.
*Russia’s military spending increased by 24 pc to an estimated $109 billion, marking a 57 pc rise since 2014, when Russia had annexed Crimea.