It is for the first time that India has surpassed Japan to reach the third position on the list of nations with the most power and influence in Asia. According to an Australian think tank, Lowy Institute, India's influence is increasing across the continent. This increase in power can be seen in the increment in the ranks in the Asia Power Index Report 2024.
This change in rank represents a dramatic change in the Asia-Pacific region's geopolitical environment.
Top 5 Factors Responsible for India’s Growth
The Central Government credited India's climb in the ranks to its rapid economic expansion, youthful population, and dynamic growth, all of which have strengthened the nation's position as a major player in the region.
1. Rapid Economic Expansion:
The government pointed out that India’s rise in the 2024 index shows its strong recovery after the pandemic and its growing economy. India saw a 4.2-point increase in Economic Capability, mainly due to its strong GDP growth and being the third-largest economy in the world by Purchasing Power Parity (PPP).
2. Youthful Population:
India’s Future Resources score went up by 8.2 points. This rise in points indicates a potential advantage from its young population. Unlike other countries in Asia, like China and Japan, India’s younger population gives the country an edge. The youth of India is expected to boost economic growth and expand the workforce in the years to come.
3. Foreign Policy:
India's non-aligned geopolitical stance helped India to successfully negotiate challenging international waters. India's extensive participation in global forums is reflected in its ranking of sixth in terms of diplomatic dialogues in 2023.
4. Cultural Diversity
In a country like India where one can find so much cultural diversity, the nation has a lot of potential because of its large population and strong economy. The widespread diaspora of the nation has helped India maintain a comparatively high score in terms of cultural influence.
5. Increasing Economic Reach
According to the report, India's economic reach has gradually increased, especially in defense sales like the BrahMos missile agreement with the Philippines. Additionally, it stated that these little changes imply that "India is starting to flex its geopolitical muscles beyond its immediate neighborhood."
However, as per the report, India has not yet realized its full potential. Its impact on the continent is still far below what its resources would indicate. According to the Lowy Institute, India still has room to develop into a significant global force.
Comments
All Comments (0)
Join the conversation