A new report by the Stockholm International Peace Research Institute (SIPRI) reveals that India has become the world's fourth-largest military spender in 2023. This marks a significant rise, as India held the fifth position in the previous year.
According to the report, India's military expenditure reached $83.6 billion in 2023, reflecting a 4.2% increase from 2022. This growth aligns with a broader trend of rising global military spending, which surged by 7% to a staggering $2.43 trillion.
The report cites several factors contributing to the surge in global military spending. The ongoing war in Ukraine has undoubtedly played a major role, with countries bolstering their defence capabilities in response to the conflict. Additionally, escalating geopolitical tensions in Asia and the Middle East are also driving up military expenditures.
India's rise in military spending reflects its growing focus on modernisation and self-reliance in defense equipment. Border tensions with neighboring countries like China and Pakistan have also likely influenced the increase.
"World military expenditure increased for the ninth consecutive year in 2023, reaching a total of USD 2443 billion. The 6.8 per cent increase in 2023 was the steepest year-on-year rise since 2009 and pushed global spending to the highest level SIPRI has ever recorded," according to the report.
In 2023, the global military burden, which is military spending as a percentage of global GDP, rose to 2.3%. The average military expenditure as a share of government expenditure increased by 0.4 percentage points to 6.9% in 2023. Additionally, the world military spending per person reached its highest level since 1990 at USD 306.
According to a report by a think-tank, 75% of India's military spending in 2023 was directed towards domestically produced equipment, marking the highest level ever and up from 68% in the previous year. This shift towards domestic procurement reflects India's aim of achieving self-reliance in arms development and production. The Indian Army has stated that its troop deployment along the Line of Actual Control (LAC) is strong and balanced. The border standoff in eastern Ladakh began on May 5, 2020, after a violent clash in the Pangong Lake area.
Relations between India and China deteriorated significantly after the clash in the Galwan Valley in June 2020, which was the most serious military confrontation between the two countries in decades.