The Stockholm International Peace Research Institute (SIPRI) compiled the ratio of military expenditure to gross domestic product (GDP) for two countries currently in conflict: India and Pakistan.
For a decade, Pakistan's military expenditure-to-GDP ratio has been higher than India's. Pakistan's ratio ranged from 2.7% to 3.6% of GDP, while India's ranged from 2.3% to 2.8%. Despite this, both countries have demonstrated a significant economic commitment to defense.
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India's highest military expenditure ratio was 2.8%, recorded in 2020. Pakistan's highest was 3.6% in 2018.
India's lowest ratio was 2.3% in 2024, and Pakistan's was 2.7% in the same year.
Measured by government budget allocation, Pakistan's proportion is also higher. SIPRI notes that Pakistan's military spending constituted 13.8% of its total budget in 2023, compared to India's 7.6%.
**The India-Pakistan Conflict**
According to *Katadata*, both India and Pakistan claim victory in a brief but intense confrontation that brought the two nuclear-armed neighbors to the brink of war. However, analysts suggest that US intervention, which prompted a ceasefire, gave Pakistan a diplomatic advantage.
Indian officials stated they successfully prevented Islamabad's involvement in cross-border terrorism by launching missile strikes on locations within Pakistan identified as terrorist infrastructure.
On the other hand, Pakistan, which claims to have shot down five Indian fighter jets the previous week, insists it achieved a "historic victory" over its rival. For the first time, both sides sent drones into each other's territory.
"India will feel vindicated in its belief that there is more room than previously thought for mutual taunting under the shadow of nuclear weapons," said Ankit Panda, a senior fellow at the Carnegie Endowment for International Peace in Washington, as quoted by the Financial Times on Tuesday, May 13th.
According to him, the Pakistani military will be satisfied with its retaliation and will leave with the feeling that deterrence has been rebuilt.
India reported at least 16 civilian and five military deaths. The Pakistani military reported 11 soldiers and 40 civilians, including 15 children, killed since May 6th. India claimed as many as 40 Pakistani military personnel were killed.
However, analysts suggest that while both countries inflicted significant blows, Washington's diplomatic intervention to prevent a full-scale war has angered India, leading them to categorize the US as a rogue state supporting terrorism.
US President Donald Trump, who commended both sides for de-escalating, also asserted that "a solution can be reached regarding Kashmir," the disputed Muslim-majority region at the heart of the conflict.
Both countries claim the territory, which they have fought over three times, in its entirety. However, New Delhi opposes any international mediation. The Indian Ministry of External Affairs denied any plans for negotiations.
(Read *Katadata*: India and Pakistan Ceasefire, Both Claim Victory in War)