NEWS – Stockholm International Peace Research Institute (SIPRI) released report on military expenditure in 2023

HIGHLIGHTS

• Global Ranking
  • India ranked as the fourth-largest military spender globally in 2023.
  • Expenditure stood at $83.6 billion, placing India behind the US, China, and Russia.
• Factors Driving Global Spending
  • SIPRI attributed the rise in global military spending primarily to ongoing conflicts such as the war in Ukraine and escalating tensions in Asia, Oceania, and the Middle East.
• Regional Spending Trends
  • Military expenditure increased across all five geographical regions, with significant rises in Europe, Asia, Oceania, and the Middle East.
• Global Military Expenditure
  • Total global military spending reached $2443 billion in 2023, marking the ninth consecutive year of increase.
  • This rise, at 6.8%, was the sharpest year-on-year increase since 2009.
• Impact on Global Economy
  • The world military burden, as a percentage of global GDP, increased to 2.3% in 2023.
  • Average military expenditure as a share of government expenditure rose to 6.9% in 2023.
• India’s Military Spending
  • India’s military expenditure saw a 4.2% increase from 2022 and a notable 44% increase from 2014.
  • Personnel and operations costs accounted for nearly 80% of the total military budget in 2023.
• Government Priorities
  • India’s focus on strengthening operational readiness amidst tensions with China and Pakistan was reflected in increased spending.
  • Capital outlays for military procurement remained stable at around 22% of the budget.
• Domestic Procurement Emphasis
  • A significant portion (75%) of military procurement outlays went towards domestically produced equipment.
  • This shift aligns with India’s goal of self-reliance in arms development and production.

STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE

• Founding and Mission
  • Established in 1966
  • Focuses on research related to conflict, armaments, arms control, and disarmament.
• Scope of Work
  • SIPRI provides data, analysis, and recommendations based on open sources.
  • Its research is aimed at policymakers, researchers, media, and the general public interested in global security issues.
• Areas of Expertise
  • Conflict Analysis: Studying ongoing conflicts and their impact on global peace and security.
  • Armaments: Researching military equipment, technologies, and their proliferation.
  • Arms Control and Disarmament: Analyzing efforts to control and reduce the spread of weapons and promote disarmament.
• Location and Recognition
  • SIPRI is based in Stockholm, Sweden.
  • It is consistently ranked among the most respected think tanks globally, reflecting its expertise and contributions to international security discourse.