India emerged as the fifth-largest military spender in the world in 2025, with an expenditure of USD 92.1 billion, according to a report by the Stockholm International Peace Research Institute (SIPRI). The annual assessment, released on Monday, also highlighted the 'unusually severe military crisis' that erupted between India and Pakistan last year.
Nuclear Arsenals and Regional Tensions
SIPRI stated that India possesses approximately 190 nuclear warheads as of January 2026, compared to Pakistan's estimated stockpile of 170. The think-tank noted that states are increasingly relying on nuclear weapons as instruments of national power, reversing decades of disarmament efforts. 'Key findings of SIPRI Yearbook 2026 are that states are increasingly relying on nuclear weapons as instruments of national power -- reversing decades of efforts to reduce the numbers and role of nuclear weapons -- even as the risks of miscalculation and escalation are rising,' SIPRI said in a statement.
India is believed to have 'slightly expanded its nuclear arsenal' in 2025 and continued developing new delivery systems. 'The modernisation programme is increasingly focused on developing long-range weapons capable of reaching targets throughout China, although planning also continues to be focused on India's long-standing rivalry with Pakistan,' the report added.
Pakistan also continued to develop new delivery systems and accumulate fissile material in 2025, suggesting its nuclear arsenal might expand over the coming decade. The report mentioned that 'the brief armed conflict between India and Pakistan in May 2025 saw India attacking Pakistani air and missile bases that are likely to have nuclear-related roles, but both sides took steps to avoid escalation.'
Global Military Spending Trends
This edition of the SIPRI Yearbook coincides with the 60th anniversary of its founding in 1966. At the start of 2026, nine states -- the US, Russia, the UK, France, China, India, Pakistan, North Korea and Israel -- together possessed approximately 12,187 nuclear weapons, of which 9,745 were in military stockpiles and considered potentially operationally available. Overall, the number of nuclear warheads continues to decline, but only due to the US and Russia dismantling retired warheads.
The US remained the largest military spender by far, with USD 954 billion in 2025 (7.5% lower than 2024), accounting for 33% of total global spending. China was second with USD 336 billion, Russia third with USD 190 billion, and Germany fourth. India's expenditure increased by 8.9% over the previous year. 'Taken together, the 15 largest military spenders accounted for 80% of the world's military expenditure in 2025 (USD 2304 billion),' the report noted, adding that many were involved directly or indirectly in the wars in Gaza and Ukraine in 2025.
Estimated global military expenditure rose for the 11th consecutive year in 2025, reaching USD 2.9 trillion -- or 2.5% of the world's GDP -- the highest level recorded by SIPRI.
