When we think about superpower, the first
thing came into our mind are America, the European Union and China, but here is
the another country in the world that moving fast towards becoming a global
superpower, and this is India .The fastest growing major economy in the world .India
is already considered a potential superpower due to its economic growth, population
and rapidly expanding military.
Here some important point will be discussed
that are going to make India a superpower.
Economic Boom: in 1947, when India got independence from
British Empire, that time India was one of the poorest country in the world.
Even in 1991, India’s economy was smaller than that of the cities like London
and Paris. But today India’s economy is much bigger than the economy of France
and UK, in 2014 , India’s economy was ranked 10. But today, India’s has become
fifth largest economy in the world with massive worth of 4.150 trillion
dollars. In less than ten years India has overtaken five major economies in the
world like Canada, Russia, Italy, France and Britain. India is the fastest
growing major economy in the world with fastest with average GDP growth rate of
6.5% to 7%. The country is on the way to become 3rd largest economy
surpassing Japan and Germany by 2027. India is already the 3rd
largest economy in the world in terms of PPP GDP (Purchasing power parity gross domestic product, is a measure of
a country's GDP that's adjusted for the cost of living) with massive economy of 14.500 Trillion Dollars.
Demographic Favours : Last year India overtook China to become the world’s most populous country as well as words new most potential superpower. India has the world’s largest youth population with unlimited potential. More than 50% of India’s population is below the age of 25 years and more than 60% of India’s population is below the age of 35 years.
Construction and Infrastructure Boom: Infrastructure plays a big role in the development of any country and emerging India knows this very well. That is why India is paying more attention to its infrastructure. India is the fastest growing real estate market in the world as well as home to the highest number of under construction mega projects in the world. India is working on the biggest infrastructure project in its history called National Infrastructure Pipeline Project spending over 1.9 trillion dollars which is more than entire economy of South Korea which is going to change everything from building world class infrastructure to better quality of life. This massive amount of 1.9 trillion is being spent between2019 to 2025. Along with this, India is working on many other mega projects like BHARATMALA with estimated cost over 140 Billion dollar. Bharatmala is a road and highway development project aims to build solid and modern road network across the country. SAGARMALA project is another one with estimated cost of over 130 billion dollar which aims to transform India’s coastal infrastructure, enhance port connectivity and boost maritime trade and connectivity. DELHI-MUMBAI INDUSTRIAL CORRIDOR (DMIC) with estimated cost of over 100 billion dollar is another one such mega project covering an overall length of 1483 KMs between the political capital and business capital of India.Again100 SMART CITY PROJECT with estimated cost of 100 billion dollar is another undergoing urban development project aiming to make 100 smart cities across the country making them sustainable , modern and citizen friendly. Along with these, India is working on many other mega projects by spending billions of dollars.
Rapid Expanding Military: After USA, Russia and China, the Indian military is fourth most powerful military in the world. With the budget of almost 82 billion dollars, India is the fourth largest military expenditure in the world. Over 1.45 million active personnel, over 1.15 million reserve personnel and more than 2.52 million paramilitary. In terms of total military personnel, India is the world’s largest army with more than 5.3 million military personnel and world’s second largest active army with 1.4 million active personnel. India also a nuclear armed country .the country has some of the most powerful nuclear weapons in the world. India is expanding and modernizing its military rapidly. India imports largest military arms in the world. Also the country is world’s largest arms producers in the world. India exports military equipment to more than 145 countries across the world.
Rapid
Industrialization: India is rapidly modernizing its
infrastructure by spending billions of dollars due to which India’s logistic
cost is falling and big companies from across the world are starting their
production in India. Even in 2021, India has overtaken USA to become the 2nd
most attractive manufacturing destination in world after China. India has world’s
largest low cost work force and one of the largest market in the world as well
as Government of India is giving billions of dollars and initiatives to
companies to start their production and business in India. Due to which big
companies of the world are getting attracted to India for their production and
businesses. That is why India has become the fastest growing major stock market
in the world. With an Industrial output of more than 900 billion dollars, India
is already among top five most industrialized countries of the world and is moving rapidly towards world’s 3rd
most industrialized country with expected industrial output over 03 trillion
dollars by 2030.
Science and Technology: Emerging India has strong focus on science and technology. India is 3rd most attractive investment destination in science and technology. The country is biggest provider of IT services and 3rd largest provider of software services as well as one of the biggest provider of hardware and software.
Fastest growing start up eco system: In 2014, India had only 400 start ups and today India has more than 1900 start ups which make
the largest start up eco systems in the world. The Indian Space Research
Organization (ISRO) is among the top five space research agencies in the world.
By the beginning of 2024, ISRO has launched over 436 foreign satellites for 38
different countries and successfully launched over 150 Indian origin
satellites. There are only four countries in the world that has developed advanced
technology called Anti
Seattleite Weapon (ASAT) and India is one of them. India has now the
capability to destroy the communication system of any country in the world by
destroying their satellite in the space.
There is no doubt that India has preparing
itself as future global superpower.