SIPRI Yearbook 2026

According to the Stockholm International Peace Research Institute (SIPRI) Yearbook 2026, released on 8th June 2026, India retained its position as the world's fifth-largest military spender and the second-largest importer of major arms, reflecting its continued focus on military modernisation and strategic preparedness.

Key Points

Military Expenditure: India's military spending reached USD 92.1 billion in 2025, registering an 8.9% increase over the previous year.
Global Ranking: India ranked 5th globally in military expenditure, behind:
- United States
- China
- Russia
- Germany
Arms Imports: India remained the world's second-largest importer of major arms during 2021–2025, accounting for 8.2% of global arms imports.
Comparison with Pakistan: Pakistan ranked 5th among global arms importers with a 4.2% share, meaning India's arms imports were nearly double those of Pakistan during the period.
Defence Exports Growth: India is simultaneously emerging as a defence exporter.
- Defence exports crossed USD 4 billion in FY 2025-26.
- Exports grew by over 60% compared to the previous year.