Why India, rising global power

① Huge population and market: Becoming the world’s most populous country by 2023

As you know, India is a huge country with a population of approximately 1.4 billion. Although the population growth rate has been on a downward trend in recent years, it is still projected to overtake China in 2023 and become the world’s largest. This is about twice the size of ASEAN, which is a huge economic region in Asia. In addition, it forms a population pyramid structure with many young people, and has an abundant working population.
As the economy develops, a thick middle class and wealthy class are forming, and it can be seen not only as a source of labor, but also as a very attractive market for the future.

② Rapid economic growth: Becoming the third largest economy in the world

India has achieved high economic growth over the medium and long term. Although GDP growth has fluctuated in recent years, partly due to the impact of the new coronavirus, the IMF forecasts an average annual growth rate of 7.7% for the period 2019-2023, the highest among major developed and emerging economies. Overall, economic growth has been consistently high. Within a few years, India is expected to overtake Japan’s GDP to become the world’s third largest economy, and even overtake the US GDP by 2050.

③ The world’s largest democratic nation: Stable domestic administration and freedom of speech

India gained independence from British colonial rule after World War II. Despite having a large population, it has consistently maintained an elected parliamentary system, and currently reigns as the world’s largest democracy. Among emerging countries, there are many countries with political instability factors, but it can be said that India maintains a characteristic stability. For this reason, it is expected to maintain a favorable environment as a destination for capital investment from overseas and continue to develop in the future.

④ Increased international presence: Vast land area and geopolitical importance

India is the 7th largest country in the world and has a vast land area that is more than 8 times the size of Japan. In addition, the Indo-Pacific region is said to be a region of particular increasing importance in the trend of globalization in the 21st century. While there are many countries including major powers, the presence of expectations and envy for India, which is rapidly increasing its national power, is becoming more and more significant. The tug-of-war between powers over India is also expected to intensify.

⑤ India’s Global Network: A vast and expanding reach

The Indian government estimates that there are more than 30 million Indian immigrants living outside India. These people, known as Indian Abroad, are one of the world’s three largest immigration networks, along with Chinese and Jewish immigrants. Alongside the growth of agriculture and factories, in recent years the country has produced a large number of IT technicians and an elite group of entrepreneurs and multinational business development companies, which have a significant impact on the world, particularly in the industrial and economic sectors.


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