India was the fifth largest military spender in the world, with an expenditure of USD 92.1 billion in 2025, according to a report by an international think-tank, which also mentioned the "unusually severe military crisis" that erupted between India and Pakistan last year. In its annual assessment report launched on Monday, the Stockholm International Peace Research Institute (SIPRI) also said that India has approximately 190 nuclear warheads as of January 2026, compared to Pakistan's estimated stockpile of 170. "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.