How India is a rising Global Superpower- 2023 guide
india

26-Feb-2023

How India is a rising Global Superpower- 2023 guide

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An early section of India's glimmering future path can be seen as the mist slowly lifts at dawn in 2023. India's place as a superpower and overall prosperity for her people is guaranteed if there is steady, determined leadership in the coming years and the citizenship continues to be energized by resurgent nationalism.

It's pointless to speculate that this will be China and India's century. However, Deng Xiaoping told China exactly 30 years ago saying open up to the world. At the time, it ranked tenth in terms of global GDP. In a few years, it is expected to surpass the United States and become the largest.

But India seamlessly leaves no stone unturned and appears to be on its way down that road right now.

Here are a few things about how India will be a rising global superpower

Nationalism rewakening

India's nationalism is mocked by the global liberal order of the last three decades, which has created a power elite that serves its own interests. However, only through the impetus of nationalism had the leading Western nations, which make up this global order, progressed from being filthy shantytowns and swamps of poverty to developed and wealthy nations. 

After nation states emerged in Europe and pride in one's land, language, and people became the primary driver of change, nations from Germany to France, the United Kingdom to the United States, Italy to Scandinavia all rose from their shabby existence.

Even Russia, China, and Japan were sparked out of their slumber by nationalism to regain their status as major global powers. This mutation was made up of military might, technology, and industry. The soul carried on with a nationalistic spirit.

Strong GDP

India continues to be the major economy with the fastest rate of growth and the brightest hope for investors, despite the three crippling waves of the pandemic and the teething issues brought on by the establishment of structures such as the GST, the Insolvency and Bankruptcy Code, real estate regulation, and the digital economy.

One of the most influential businesses in the world, Morgan Stanley, stated last year that global offshoring, digitalization, and the energy transition are three megatrends that are preparing India for unprecedented economic growth.

By 2031, India's GDP, according to Morgan and Stanley, could more than double from the current $3.5 trillion to more than $7.5 trillion. It is anticipated that by then, India's per capita income will rise from $2,000 to approximately $5,000.

The company projects that during that time, its share of global exports could double, and the Bombay Stock Exchange could experience annual growth of 11% and reach a market capitalization of $10 trillion.

Independent and self-interest nation

No prime minister of India before PM Modi has pursued the nation's self-interest on the international stage with greater assertiveness. India has retaliated strongly against a rampaging China at our borders. It has reacted to lectures about its trade and relations with Putin, the villain of the West, from Europe and the United States.

At the September summit of the Shanghai Cooperation Organization (SCO) in Samarkand, Uzbekistan, Modi even ignored Putin. He said that "today's era is not of war" and that Putin should "move on to a path of peace." India supported a resolution that allowed Zelenskyy to virtually address the United Nations General Assembly in New York shortly thereafter.

In 2022, India's policy of tempered global vision and self-interest came to the fore. It refused to be coerced into sacrificing its energy needs when far more developed nations used dirty energy to get rich while still leaving a much larger carbon footprint, even though it led the world by sending Covid vaccines to over 70 countries. Zelenskyy recently requested PM Narendra Modi to devise a "peace formula" in light of India's year as G20 leader.

Make in India initiative

In the past, India imported the most arms. However, it has increased its defense exports by eightfold in the past eight years.

India's defense exports hit a record high of Rs 13,000 crore in 2021 and 2022. 50 private Indian companies produced approximately 70% of the nation's defense products.

In 2022, India carried out 38 missile tests. Some were brand-new missiles, such as a helicopter-launched anti-ship missile, a very short-range air defense system, a man-portable air defense system, and a naval anti-ship short-range missile.

Italy, Sri Lanka, Russia, the Maldives, Nepal, France, Sri Lanka, Egypt, Israel, Bhutan, the United Arab Emirates, Saudi Arabia, Ethiopia, the Philippines, Poland, Spain, and Chile are among the nations to which the nation has supplied technology and arms.

The government has started building 64 strategic roads with a total length of 3,508 kilometers and 103 bridges along the border, spending Rs 31,000 crore. Construction is underway along more than 6,000 kilometers of the border.

In 2022, the Border Roads Organization launched 28 projects and dedicated 103 infrastructure projects with a total cost of Rs 2,897 crore to the nation.

Solid scientific research

In the past, scientific research was India's weak point. A corrupt, politburo-controlled bureaucracy was in charge of state-run laboratories.

That is beginning to change. The nation has made significant progress, including budget rocket launches, research in the Deep Ocean, and green energy. However, India's reach out to the world during Covid 19 with its own indigenously developed vaccine is the most impressive accomplishment of recent times.

No nation can even contemplate becoming the superpower of the future without innovation and research. India's gross expenditure on research and development per capita is the lowest in the world, at $43, despite the incremental increase in the allocation, which now stands at Rs 14,217 crore. A significant adjustment may be made to the forthcoming budget.

With all these factors, as soon as the years passed India will be the superpower country globally.

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