India’s Military Spending in 2024 Nearly Nine Times Higher Than Pakistan's: SIPRI Report:

Suspense crime, Digital Desk : Following the Pahalgam terrorist attack, the scene is increasingly tense. A recent report from The Stockholm International Peace Research Institute (SIPRI) indicates that India’s 2024 military expenditure is forecasted to be almost ninefold larger than that of Pakistan’s.

India’s military expenditure stands at $86.1 billion, with a global ranking of fifth.

Pakistan’s military expenditure is estimated to be around ten billion USD

India's defense spending went up by 1.6% compared to last year's figures.

Global Military Spending Highlights

According to SIPRI’s “Trends In World Military Expenditure 2024” report:

The western superpowers alongside India are still spending the most. The United States, China, Russia, Germany, India - the spending for the nations is 60% of the total world spending standing at 1,635 trillion dollars, while the total military spending of the world is nearly one an a half thousand billion dollars.

China, for example, has an increase of 300 million dollar’s worth of arms expenditure, from last years 314 billion this year. This marks over 30 decades of China’s ever-increasing military spending. China contributed well over half, around 50% of the military spending in Asia and Oceania due to their focus on military infrastructure, cyber systems, and nuclear weapons.

Military Spending in Europe is Increasing Rapidly Due To Wartime Strategies in Ukraine

The total military expenditure of Europe (Russia included) rose up to $693 billion, with an increase of 17% surpassing the Cold War levels.

Military spending in the Russian Federation for 2024 is expected to reach 149 billion dollars. This is expected to be a 38 % increase in spending from last year, with spending in 2015 as the base for the double measurement in spending.

Military expenditure supported 7.1% of Russia GDP and 19% of government spending.

Ukraine's defense expenditures are up by 2.9% to stan at USD 64.7 billion, representing 34% of its GDP which is the highest in the world.

Quote from SIPRI:

“Russia once again greatly increased its military expenditures straining the gap of difference spending between Ukraine,” explained SIPRI Senior Researcher Diego Lopes da Silva.

In his statement, Lopes points out that Ukraine is committed to maintaining military spending at the level of all taxed income and will face operational financial hardship under sustained high spending.

Germany and Poland's Defense Budgets Grow Significantly

Germany’s military expenditure rose by 28% to USD 88.5 billion, making it the largest spender in Central and Western Europe and the fourth biggest globally.

Poland increased their defense budget also by 31% to USD 38 billion or 4.2% of GDP.