India fifth among global military spenders; Pakistan far behind: SIPRI

India's military spending in 2024 was almost nine times higher than Pakistan's, according to a study released on Monday. The report comes even as tensions between New Delhi and Islamabad run high after the deadly terror attack in Pahalgam, Jammu and Kashmir.

According to the Stockholm International Peace Research Institute (SIPRI), India spent $86.1 billion on its military last year. That's a 1.6 per cent rise compared to 2023. In contrast, Pakistan's military budget stood at $10.2 billion.

India is now the fifth-largest military spender in the world. The top five — the United States, China, Russia, Germany, and India — together accounted for 60 per cent of global defence spending, with a combined total of $1635 billion.

China's military expenditure rose sharply by 7 per cent to an estimated $314 billion. The communist country alone made up half of all military spending in Asia and Oceania. SIPRI noted that China has continued to modernise its military, expand its cyberwarfare capabilities, and strengthen its nuclear arsenal.

The SIPRI report, titled “Trends in World Military Expenditure 2024,” said Europe too saw major increases. Military spending across Europe (including Russia) jumped 17 per cent to $693 billion — pushing defence budgets higher than at the end of the Cold War.

Russia's defence spending surged by 38 per cent to reach $149 billion. It now represents 7.1 per cent of Russia’s GDP and about 19 per cent of total government spending. "Russia once again significantly increased its military spending, widening the spending gap with Ukraine," said Diego Lopes da Silva, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme.

Ukraine’s military spending grew by 2.9 per cent to $64.7 billion. That’s about 43 per cent of Russia’s military budget. “Ukraine currently allocates all of its tax revenues to its military. In such a tight fiscal space, it will be challenging for Ukraine to keep increasing its military spending,” Lopes da Silva added.

Ukraine also had the highest military burden in the world — with 34 per cent of its GDP going to defence. Several countries in central and western Europe posted record defence budgets. Germany’s military spending rose by 28 per cent to $88.5 billion, making it the biggest spender in the region and the fourth-largest globally. Poland increased its military spending by 31 per cent to $38 billion, amounting to 4.2 per cent of its GDP.

The global rise in military budgets, SIPRI said, reflects growing geopolitical tensions and ongoing conflicts around the world.

(With inputs from PTI)