- By Supratik Das
- Mon, 28 Apr 2025 12:03 PM (IST)
- Source:JND
The world’s military expenditure reached a record 2.72 trillion USD in 2024, marking a significant 9.4 per cent increase from the previous year, according to the Stockholm International Peace Research Institute (SIPRI). This surge, the steepest since the end of the Cold War, reflects growing global insecurity and heightened geopolitical tensions. As nations rush to improve their military might, India and Pakistan are also heavily investing in their defense industry.
Nations all over the world are raising their defense budgets amid heightened security challenges. Europe has experienced a shocking surge in military spending, fuelled by the Ukraine war, and the world's biggest defense spender, the United States, spent 997 billion USD on defense in 2024. The defense budget of Russia also significantly increased to 149 billion USD amid rising tensions with NATO and Ukraine.
India's Military Budget Reaches 75 Billion USD
India, one of the world's largest military spenders, has gone on to augment its defense budget to enhance its strategic role in the region. With a defense spending of over 75 billion USD in 2024, India is the fourth-largest military spender in the world, after only the United States, China, and Russia. The jump is as India prioritizes strengthening its military resources and increasing defense capabilities to take on regional security threats. Its defense budget in 2025-26 will be Rs 6.81 lakh crore (approximately 75 billion USD), a marker of its persistent efforts to reinforce its military capabilities.
India's military is fueled by its huge investment in manpower, advanced equipment, and technology, which keeps strengthening its position in the Global Firepower Index. India, with a Global Firepower rating of 0.1184, is regarded as a significant military power in Asia and globally. The military expenditures of India and Pakistan reflect the ongoing rivalry between the two nations, particularly regarding their strategic interests in the region. India’s defense budget has steadily grown to address not only national security but also counter terrorist and external influences in the country. India's strategic military spending strategy is to modernize and increase defense infrastructure, with special thrusts on air and naval forces. This, coupled with a fast-expanding defense technology industry, keeps India a major factor in global military affairs.
India's status as a global military power is further supported by its leadership position in regional security platforms, including the Shanghai Cooperation Organization (SCO), and its increasing defense cooperation with Western nations, including the United States and European nations.
Pakistan's Military Budget Remains Small At 7 Billion USD
Conversely, Pakistan's military expenditure is comparatively smaller, with an estimated budget of about 7 billion USD in 2024. Though the 12th largest spender in the world, Pakistan's defense establishment is largely controlled by its strong nexus with China. Even with the backing of China, the defense budget and military strength of the country are constrained by economic and political factors. This alliance has facilitated the acquisition of key military technologies for Pakistan, yet its defense budgets continue to be limited by economic problems and domestic security issues. Pakistan's military is still a regional powerhouse in South Asia, yet its lower defense budget and pace of modernization relative to India are considerations affecting its international ranking. Pakistan's financial constraints and the effects of sanctions and economic uncertainty are weakening its capacity to compete on an equal basis with its neighbors.
As military expenditures across the world reach new records, Indian and Pakistani military budgets represent a nuanced and competitive regional dynamic. India's hefty defense outlays are making it an emerging Asian military power, whereas Pakistan has constraints that prevent it from keeping up with India's military budgets.