India was the fourth largest military spender globally in 2023. At $83.6 billion, its military spending was 4.2 percent higher than in 2022.
Total global military spending is set to reach $2443 billion in 2023, an increase of 6.8 percent in real terms from 2022. This was the fastest year-on-year increase since 2009. Among the 10 biggest spenders in 2023 are the United States, China and Russia. This information was given according to new data on global military expenditure published by Stockholm International Peace Research Institute (SIPRI).