The Sweden-based institute further said that the global expenditure on defence surged for the record ninth time. As per it, the expenditure reached an all-time high of $2443 billion, for the first time since 2009

New Delhi: With India continuing to enhance its defence expenditure, the country was the fourth largest across the world in terms of expenditure, As per Stockholm International Peace Research Institute (SIPRI), the country’s expenditure was higher in 2023 as compared to the previous year.

What Report Said

“India was the fourth largest military spender globally in 2023. At $83.6 billion, its military expenditure was 4.2 percent higher than in 2022,” SIPRI said in a press release on Monday. SIPRI’s latest statement comes days after Defence Minister Rajnath Singh had said that 75 percent of the country’s defence budget have been set aside for the investment in ‘Made in India’ equipment.

The Sweden-based institute further said that the global expenditure on defence surged for the record ninth time. As per it, the expenditure reached an all-time high of $2443 billion, for the first time since 2009. The increase in expenditure was recorded in all geographical locations across the globe, particularly in Asia, Europe Oceania and the Middle East.

According to Nan Tian, Senior Researcher with SIPRI’s Military Expenditure and Arms Production Programme, “The unprecedented rise in military spending is a direct response to the global deterioration in peace and security. States are prioritizing military strength but they risk an action–reaction spiral in the increasingly volatile geopolitical and security landscape.”

Similarly Russia spent $109 billion in 2023, which was an increase of 57 percent as compared to 2022, while Ukraine has spent $64.8 billion in 2923, witnessing an increase of 51 percent as compared to previous year. As per the report, while the US spent $916 billion in 203, a surge by 2.2 percent, China’s expenditure saw a surge by $296 billion, witnessing a surge by 6 percent.

List of counties and surge in expenditures

Country Expenditure (in billion USD) Percentage Increase

Country Expenditure (in billion USD) Percentage Increase
India $83.6 4.2%
Russia $109 57%
Ukraine $64.8 51%
US $916 2.2%
China $296 6.0%
Japan $50.2 11%
Taiwan $16.6 11%
Israel $27.5 24%
Mexico $11.8 55%
Poland $31.6 75%
Brazil $22.9 3.1%
Algeria $18.3 76%

(With Inputs From Agencies)