India has gradually become a heavyweight in global economic prominence over the past decade. As per India’s Economic Survey for 2017-18, a series of major reforms by the current political regime will allow real GDP growth to reach 7.0 to 7.5 percent in the coming fiscal year, and it will re-instate India as the world’s fastest growing major economy. India has also been ranked by International Monetary Fund and World Bank as the world’s third largest economy in terms of purchasing power parity (PPP).
In his address at the World Economic Forum in Davos, Prime Minister Narendra Modi has asserted that he has set a target for the Indian economy to double in size over the next seven years. With India being an integral part of the international society in safeguarding the “global commons”, it will continue to champion the cause of the least developed countries. So, here are six facts about India that shows our beloved country will be a superpower soon.
1. Economic growth
Today, the power of a county is determined by country’s GDP. Economic growth determines the future power of the country. India is one of selected few who has both, large GDP combined with very high growth rate of that GDP. At the moment USA has larger GDP than India, but it’s growth is much less than India. Only China and India has this potential to rise to superpower economy.
Because of India’s huge manpower, everything in India happens grandly. 500 million people are part of work force in India. India is capable of building large scale infrastructures and creating huge projects that any other county can only think of.
India made decision to put economic focus and to become the world biggest supplier of entertainment and ICT. Mumbai area is home to the largest movie industry in the world. Bangalore area is the second largest of ICT companies in the world. It is predicted that Bangalore will be bigger than the Silicon valley in California, USA. By making this choice, India created field for growth and economic renewal.
Another reason India has advantage over countries like China is that India is the world largest democracy. India has free market system and by that it is likely to become what is USA now, much likely than China, as China is not democracy. This is one of the biggest reasons why India’s growth rate is overtaking China’s growth rate.
With active military of 1.4 million personal, India has the second largest army in the world. Only China has largest number. However, the number of personal does display real fighting power. When we look into data, India shows impressive military power like 1100 fighter jets, 4500 units of tanks, etc. It is a fact that Indian Army is the one of the largest and most powerful armies in the world.
6. Nuclear option
Only nine countries in the world are known to poses nuclear weapons. This is a wild card for India in the power game of domination. No county will mess with any country that possesses nuclear war heads.
As per mentioned facts, it is obvious that India will become a biggie in terms of being a superpower. It might not be visible now, but in upcoming years, world will be different with India and it’s influence and power.