According to a report from the Stockholm International Peace Research Institute (SIPRI), India has positioned itself as the fifth largest military spender globally, with an expenditure of USD 92.1 billion in 2025. This figure marks an 8.9 per cent increase compared to the previous year. The report, released on June 9, 2026, highlights the escalating military investments amid ongoing regional tensions.

The SIPRI Yearbook 2026 notes that the rise in military expenditure reflects a broader trend among various nations, contributing to a record global military spending of USD 2.9 trillion, which represents 2.5 per cent of the world’s GDP. Notably, the top 15 military spenders accounted for 80 per cent of total military expenditures.

In contrast, the United States remains the largest military spender, with a budget of USD 954 billion for 2025, while China and Russia follow as the second and third largest spenders, respectively. Germany holds the fourth position, preceding India in military expenditure.

India and Pakistan’s Nuclear Capabilities

The SIPRI report outlines that by January 2026, India is estimated to possess approximately 190 nuclear warheads, surpassing Pakistan’s stockpile of 170 warheads. The institute remarked on the severe military crisis that occurred between these two nations in May 2025, during which exchanges of cross-border fire took place.

Despite shared efforts to avoid escalation during this period of conflict, the report indicates that both countries continue to develop their nuclear arsenals. India is believed to have slightly increased its nuclear capabilities in 2025 and is also focused on enhancing its long-range nuclear delivery systems, particularly with respect to its rivalry with China and Pakistan.

Meanwhile, Pakistan is reportedly advancing its own delivery systems and stockpiling fissile material, which suggests the potential for future growth in its nuclear arsenal. The report highlights the continued prioritisation of nuclear weapons by states globally, reversing previous reductions and increasing the risks of miscalculation.

Context of Global Military Dynamics

The SIPRI’s findings coincide with the 60th anniversary of the institute’s establishment and emphasise ongoing regional flashpoints that may escalate into broader conflicts. The report specifically acknowledges the continuing volatility in relations between India and Pakistan, alongside other global tensions in regions such as Ukraine and Gaza.

Notable trends noted in the SIPRI Yearbook include a gradual shift in conflict resolution strategies, moving away from liberal peace-making approaches toward more power-based methods. This reflects broader changes in international relations and military engagement over the past two decades.

The evolution of cyber operations as a significant component of modern warfare is another key finding. The report cites the integration of cyber strategies by both India and Pakistan during their May 2025 confrontation as evidence of the changing nature of armed conflict. SIPRI’s report serves as a critical resource for understanding current military dynamics globally, documenting the ways that conflicts are evolving in response to changing geopolitical landscapes.

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