That is a good question. Could India become the world's next big economy? Another world superpower? Let's dive in.
The Indian economy has been substantially growing in the past few years, and a recent study concludes that by 2030, India could overtake Japan and Germany to become the world's third largest economy (after the US and China). Their influence is also expanding, as many companies are trying to start new chains and stores in the South Asian country. For example, many semiconductor businesses from Taiwan, the world's largest supplier of semiconductors, are trying to grow and expand in India so that Taiwan can have backup against the looming threat of China and their threats.
Why? A lot of it is due to India's position on the Earth. The location of the subcontinent relative to Eurasian and Afro-Asian trade routes is key, as many of those routes pass through Indian waters. Another important variable is the population. India, being the most populous country in the world (1.4 billion) has one huge advantage that many other countries do not. Manpower. Because of India's massive population, there is no shortage of people to work, and about 50% of the population are under the age of 24, which will supply a large workforce for India in the coming decades as well. Unlike other nations, India has a very young population, which is a huge advantage when compared to the declining birth rate of other countries around the world.
The influence of India in other nations around the world is also rising. In fact, many successful people in big tech and other industries are Indian as well, some examples being Sundar Pichai (CEO of Google), Rishi Sunak (Prime Minister of the UK) and Sachin Tendulkar (One of the best cricketers of all time). In fact, there is actually a huge amount of irony as to Rishi Sunak's position. In the mid-1800s, the British colonized India (which then included Pakistan) and ruled over it as a colony. Then, after independence, India was split into three parts: India, Pakistan, and Bangladesh (previously East Pakistan). Now, a person of Indian origin is the Prime Minister of the UK. As prime minister, Rishi Sunak is working to influence and spread Indian culture across the UK by introducing multiple Indian regional languages (such as Gujarati) into the British curriculum. Of course, it would be optional, but it could be part of their foreign languages program.
India is also strengthening their partnerships with other allies, such as the US and UK. To add on to that, the US and India have actually just launched a new initiative on new technologies and high-level defense. The US's Joe Biden and India's Narendra Modi met to address the concerns of Russia's invasion of Ukraine, and how India is still dependent on military supplies from Russia. This could impact their economy in the future, so India has announced this initiative with the US to help transition away from being dependent on Russian materials. India is also worried about the imposing threat of China, as violent conflict has occurred at the Indo-Chinese border and tension rises between the two most populous countries in the world. Most of this new deal includes the US to cooperate with India on many tech and defense related areas, such as wireless internet infrastructure, commercial spaceflight, and lunar exploration. It would also help India develop its own military vehicles and fighting materials, so that India can form a whole new industry with it for its own defense and exports. Another part of the initiative is to have the US help India grow its chip-making capabilities, since it has the manpower and resources to do it. This way, if Taiwan is attacked by China, India's chip industry will help sustain the chip supply to the rest of the world (and itself).
India currently has the third largest GDP (PPP) in the world (after China and the US), so this is all just further confirmation that India's position on the global stage is just getting bigger and bigger.
By Armaan Dhawan
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