SIPRI Report: India Ranks Fourth in Global Military Expenditure in 2023
Overview of Global Military Expenditure
The latest report from the Stockholm International Peace Research Institute (SIPRI) indicates that global military expenditure in 2023 is projected to reach $2,443 billion, reflecting a 6.8% increase from the previous year. This significant growth is driven by rising geopolitical tensions, ongoing armed conflicts, and heightened global insecurity.
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| According to SIPRI report, India will rank fourth in global military expenditure in the year 2023. |
India's Military Expenditure in 2023
According to the SIPRI report, India is expected to be the fourth-largest military spender in 2023, following the United States, China, and Russia. India has allocated $83.6 billion for defense spending in 2023, representing a 4.2% increase from 2022. This substantial investment underscores India's commitment to strengthening its defense capabilities, especially along the China border, which has been a point of focus since the Ladakh standoff in 2020.
India's ranking in global military expenditure has seen consistent growth. In 2022, India ranked fourth with an expenditure of $81.4 billion, which marked a massive 47% increase since 2013. This continued rise in spending demonstrates India's determination to modernize its military infrastructure and bolster its capabilities, including the acquisition of new fighter jets, helicopters, warships, tanks, artillery guns, rockets, missiles, unmanned systems, and other advanced combat technologies.
Other Key Military Expenditure Figures
The SIPRI report also provides insights into the military spending of other major countries:
- United States: Despite ongoing conflict with Ukraine, US military spending increased by 2.3% to $916 billion.
- China: As the world's second-largest military spender, China allocated an estimated $296 billion to its military in 2023, marking a 6% increase from the previous year.
- Russia: Russia's military spending saw a substantial 24% increase, reaching an estimated $109 billion.
- Ukraine: Ranking as the eighth-biggest spender, Ukraine increased its military spending by 51% to $65 billion in 2023. It also received at least $35 billion in military aid from other countries, which amounted to 37% of Ukraine's military burden and 58% of total government spending.
In addition, military expenditure in other regions also saw significant increases:
- Israel: Israel's military spending in 2023 is expected to increase by 24% to $27.5 billion, making it the second-largest spender in the Central Asian region after Saudi Arabia.
- Iran: In the Middle East, Iran ranks fourth with military spending of $10.3 billion in 2023.
Conclusion
India's ranking as the fourth-largest military spender in 2023 underscores its ongoing efforts to strengthen national security and modernize its armed forces. The increase in global military expenditure, as highlighted by the SIPRI report, reflects a broader trend of rising geopolitical tensions and the need for countries to invest in their defense capabilities. As India continues to expand its military infrastructure and diversify its combat technologies, it reinforces its position as a key player in the global military landscape.
