Will India become a super power in 21st century?

India has the 7^th biggest economy in the world.

India: a place of vast cultures, traditions, norms, languages, heritage, variety of foods and stunning spots. All around this mighty acreage we witness the beautiful segments of nature and cultures. India is lined as the second most populous country among the ten nations who spend most budgets on their troops. Specially, India is among some certain countries that are nuclear powers.

But, in political aspects, India is quite intruder. Lack of quality leadership was the biggest problem this mighty country faced. India is regarded as the biggest democracy in the world which is dealing with feeble economic growth, uncertain political pressures and incapable leadership over the time. The thing changed perilously when Narendra Modi became the prime minister with the motto to rebuild the country with stable economic growth and to make reforms in government structure.

Narendra Modi PM of India

Of course, there are some problems in political, social and micro economic sector which could affect the process of progress. Likewise, to eradicate the corruption in the Government sectors this easily is harder as other matters for the reason that it is one of the biggest hurdles in country’s prosperity. Comparatively, the gap between rich and poor and the infrastructure backwardness could seize the economic appetites.

Here in this content we are going to discuss the matters that either Indian progress is smooth to achieve or will it still need some certain measures? Additionally what Narendra Modi has planned to achieve in coming years?

Economic initiatives

Modi’s plan is to make India a free market and for now this plan seems to be working. Despite, India’s economic growth is lower than its neighboring country China still it holds on the limit of 6.4% this year. India is enjoying an economy of 1.9 trillion US dollars. According to the IMF, India has already outpaced Japan to grow into the third biggest economy of the world.  Additionally, in terms of purchasing price parity, India’s economy is going towards the right direction.

 

GDP growth of India has been satisfactory in couple of last years

Particularly, the falling prices of oil have reduced the risk of inflation. Therefore, country will be able to cut its pricey fuel subsidies. Eventually, it would decline the budget deficit.

According to the reports, a 10 dollar decrease in oil prices globally could increase the GDP by 0.1% and lower the inflation by 0.5%.

Additionally, Foreign Direct Investment has also increased. Explicitly, Japan alone has landed in India about 33 billion US dollars from public and private sectors at a very low interest rate. Accordingly, it will stabilize the business environment.

Improvement of National Infrastructure

Narendra Modi wants to improve India’s national infrastructure. The steps regarding the aim include an expected increase in infrastructure. Modi has targeted to achieve the economic growth by 7% annually by spending 800 billion US dollars. Additionally, he enables banks to buy infrastructure bonds to motivate the trading activities in debt markets. Significantly, China has invested 20 billion US dollars in infrastructure sector of India.

Japan's foreign direct investment in India

Transport mobility, stable water supply, access to electricity and expansion towards the usage of technology could enable India to make its way towards the global leader.

India has got a huge amount of Human capital as well. This human capital makes India’s population an asset of it. According to the reports 65% of Indian population consists of people less than 35 years of age. Eventually, it will give the country an edge in coming decades. Modi’s Government has taken the steps in improved education, training of rural workers, skilled jobs and providing the bank accounts to all Indians. Additionally, India is modernizing its nation by encouraging the wider use of computers and the internet. These are the sectors in which fast jobs boom is coming in few years. Important to note here is Mr. Sundar Pichai: the CEO of Google is from India.

Sundar Pichai: CEO of Google is an Indian born intellectual

Geographical advantage

The most outstanding fact that could make India positioned itself as the superpower is its demography. Since the elections of 2014, Modi has enhanced the ties with Russia, Japan, Middle East and The US economically, politically and socially. India is a massive economic market for each of them and could prove a valuable trading partner. Additionally, the strategic importance of alliance of India with all these nations is a fact.

 

Modi During his visit to America in June 2017

Russia needs the companionship of India to boost its economy and to further tackle US in the region. The US would also like to bolster the trade growth with India which was 95 billion US dollars last year and also to balance the power of China in the region. Modi has played his cards very deliberately that will be beneficial for India both financially and politically.

Author’s take

Narendra Modi has set a way that will lead India towards the dreams yet there is a lot of work to do on it. All in all, advantages of the deals and political affiliations are quite valuable. By the time, this country may play the leading part in economic and geopolitical terms globally.

To sum up, India must also join hands with China and Pakistan to establish a triangle of economic growth in shape of CPEC project. Indian products will reach throughout the targeted spots in short times. Additionally, the trading partnership will urge the nations to decrease the tensions among themselves created by some extremists. Particularly, this will be a beneficial step for the region and for the 3.128 billion people of China and South Asia.