News Excerpt:

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.

key points related to the rise in India's military spending 2023:

• India's military expenditure reached $83.6 billion in 2023, reflecting a 4.2% increase from 2022.
• India's rise in military spending reflects its growing focus on modernization and self-reliance in defense equipment.
• This was a result of growing personnel and operations costs that comprised about 80 per cent of the total military budget.
• Border tensions with neighboring countries like China and Pakistan have likely influenced the increase in India's military spending.
• According to the report, 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.
• India's shift towards domestic procurement of military equipment reflects its 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) with China is strong and balanced, referring to the ongoing border standoff in eastern Ladakh, which began on May 5, 2020.
• 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.

Rise in global military spending 2023

• As per the report the five biggest spenders in 2023 –the United States, China, Russia, India and Saudi Arabia together accounted for 61 percent of world military spending.
• 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. 
• Ukraine became the eighth largest military spender in 2023, increasing its spending by 51%.
• Additionally, escalating geopolitical tensions in Asia and the Middle East are also driving up military expenditures.
• 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.
• 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.