INDIA- THE NEXT SUPERPOWER?

India has made its mark globally in various decades, over many centuries, and is still talked about. Not just for its richness in religions or for being one of the biggest democracies worldwide but for its splendid beauty, cultural heritage, compassionate people, striking architecture, and a lot more. No person who has traveled to India has left uninspired.  India will get you acquainted with your dreams, your aspirations and also help in spiritual awakening if that’s what you are looking for. 

A few years ago, India’s future was miserable. An absence of a dependable government, pale economic growth, and ever-increasing poverty had fostered uncertainty and instability. But the tables turned theatrically when Narendra Modi became the Prime Minister of India. With him, India swore a promise of revolutionizing its government and kicking its stumbling economy.

Modi government winning 2019 Lok Sabha elections has established a rock-solid political platform advancing India’s development and minimizing the danger of imbalance in the economy.

“Incredible India” has successfully made its mark on the globe. India is the largest democracy and the second largest English-speaking nation in the world. Developing countries are comparing India and China on their rapid economic growth model. China superpower vs. India superpower has become a topic of debate worldwide. There have been innumerable speculations about India fighting a bull’s race to become the next world superpower.

So, can India become a superpower?

Let’s explore:

9. The Entertainment Industry

“Don’t under-estimate the power of Indian Cinema!”

 Making high growth advances, the Indian Media and Entertainment industry is a prominent sector for the Indian economy. Bollywood has been one of the premium attractions of India.

Showing its flexibility to the world, the Indian Entertainment Commerce is on the cusp of a resilient phase of progress. Escalating consumer demands and upgrading advertising revenues backs this growth. Over the last decade, growing digitization and greater internet usage are largely driving the roots of this industry. The internet has become a mainstream media for most of the population’s entertainment needs.

India’s love for movies is so mammoth that it is the largest producer of movies in the world. It produces over 900 movies per year in 52 varied languages. Moreover, India has given the world legends like Shahrukh Khan, Priyanka Chopra, and A.R. Rahman.

8. A Cultural Assortment 

India is a nurturing setting of a variety of cultures and religious beliefs. Cultural diversity is a major positive factor in initiating and welcoming growth and economic development in India.

According to a new study, diversity spurs economic development and homogeneity slows it down. Geographical openness and cultural tolerance along with technological innovation are key drivers of economic progress. They deliver the motive force for intellectual, artistic, and technological evolution. Countries with great heights of diversity adjust to modern technologies and ideas in a much better fashion. Thus, we can say that cultural diversity has positively affected the growth of rising India.

Do you think only Indians believe that?

Here is what Mark Twain used to think about India –“India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grandmother of tradition. Our most valuable and most instructive materials in the history of man are treasured up in India only.”

7. An Upsurge In Medicinal Developments

India is the home of Ayurveda. Ayurveda studies and remedies have made great advancements in the field of science and medicine. Indian herbs have created an unparalleled vision in the natural nutritional supplements market. Also, India is the world’s largest manufacturer of generic drugs.

Indian surgeons and scientists are continuously setting striking standards through their innovations and knowledge. One of India’s most pioneering neurosurgeons developed a technique for the treatment of basilar invagination (when the second cervical vertebrae migrate upwards, potentially compressing the brain stem). This practice is becoming a global standard, replacing the standard procedure of surgery through the mouth.

Excellent medical service and care along with the upsurge of Ayurveda have led to the development of tourism in India. In addition, the cost of healthcare surgeries in India is 1/10^th compared to other developed and superpower countries around the globe. That too with the same or better quality and success rate.

Don’t believe it? Cancer drug Gleevec cannot be patented in India, so costs US$ 2500 in India as opposed to US$ 70,000.

6. A Global Vision

India has received globalization very well. Many Indian companies have taken over international scenes by clinching deals with various international businesses. These companies have emerged as multinationals like Tata Motors, Steel czar Lakshmi Mittal and Reliance Industries chairman Mukesh Ambani have made it to the Forbes list of “World’s most powerful billionaires.” These Indians wield staggering authority and influence far beyond their riches!

Moreover, due to globalization, many MNC has increased their investments in the country, accelerating economic development in India. Top companies have benefitted from increased competition. They have invested in newer production methods and technologies which have increased their standard of work. Consumers now enjoy lower prices along with improved quality.

We believe the industrial and economic growth due to globalization will be a major factor in making India the next superpower.

5. The Geopolitical Benefits

India has always made a resolute effort to strengthen ties with Russia, Japan, and the U.S. India serves as a respected trading partner with a huge consumer base and a labor pool.

Ailing from western economic sanctions and low oil prices, Russia needs India’s partnership to reinforce its economic foothold. Similarly, the U.S. would like to expand bilateral trade with India and use the democratic nation to balance the power of China.

By extending a hand of friendship, India is looking for maximizing financial and political welfares. If diplomatic relations are crucial for being a superpower, India should be on top of superpower countries. It’s not that easy to be friends with your competitors!

4. A Promising Military Force

Improving military proficiencies has always been a top priority for India. New Delhi, India’s capital, had not joined 187 other nations in signing the Nuclear Non-proliferation Treaty (NPT) in May 1998. This made India appear on the world’s radar screen as a nuclear-armed nation.

India has always had a long military shopping list. Knowing India’s desires, America has openly discussed the sale of naval vessels, patrol aircraft, combat aircraft, and helicopters with India.

One former U.S. ambassador to India orated, “Of course we should sell advanced weaponry to India. The million-man Indian army actually fights, unlike the post-modern militaries of many of our European allies.”

With 1,300,000 active personnel and 1,800,000 reserve ones, the Indian Army is the world’s second-largest army in terms of military personnel. It is also the 3^rd largest army in terms of active manpower. The military power and strength are definitely an advantage that can make India the next superpower.

3. A Flourishing Tourism Industry

Satisfying every type of traveler from around the globe, India is a medley of traditions, culture, and vibrant geographies. There has been a remarkable development of tourism in India. India is ranked as the second-largest tourism market in Asia after China. It is also ranked 11^th in the “Twenty fastest-growing tourism destinations worldwide” by the World Travel and Tourism Council.

With a fascinating history, India has witnessed the growth of the booming tourism industry. India houses the magnificent Taj Mahal! It attracts around 6 million tourists from around the world. Other tourist places in India include the Red Fort in Delhi, the glorious city of Jaipur with hundreds of palaces and forts, the Himalayas in Uttrakhand, the holy city of Varanasi, The ruins in Hampi, and the beaches of Goa.

The Guinness record for the largest mass gathering in the world was broken in 2011 in India. More than 75 million pilgrims were gathered during the Kumbh Mela, making it the largest mass gathering in the world. The assembly was so huge that it was even visible from space! Must have been one crazy event!

2. A Hub Of Intellectual Individuals and an Entrepreneur’s Paradise 

Young Indians are ambitious, innovative, and tech-savvy. They are becoming the major drivers of the economy of rising India. The specialized talents excel in achieving a greater standing in the world order. India has the second-largest pool of scientists and engineers in the world. More than 100 research and development labs have been set up by information technology companies in India.

Indian scientists have successfully executed space missions to the moon and mars. Water on the moon was discovered by India’s ISRO Chandrayan- 1 through its Moon Mineralogy Mapper. Indian minds like Sundar Pichai (CEO of Google), Satya Nadella (CEO of Microsoft), and Shantanu Narayen (CEO of Adobe) are ruling over the world. A bunch of geniuses!

In the past few years, India has been home to an exceptionally high number of startups. It ranks third amongst global startup ecosystems with more than 4200 startups. European and Asian global accelerators have started to get into the Indian startup scenario to make aggressive investments.

Another reason driving investors towards India is the Indian potential to hunt more unicorns. A unicorn is basically a start-up company valued at more than a billion dollars, typically in the software or technology sector. According to statistics, four unicorns emerged out of India in 2015.

The growth of e-commerce in India has also added to the start-up culture. With the world going online, e-commerce websites are selling everything from groceries to consumer durables and electronics.

1. A Booming Economic Growth and Industrial Rate 

Over the past few years, the Indian economy has grown by an average of 8% annually, among the fastest growth rates in the world. According to the World Bank, India has overtaken Japan as the world’s third-largest economy regarding purchasing price parity. India’s GDP has overtaken China’s in May 2015. India boasts a growing gross domestic product, roaring stock market, exports, and large foreign investments.

Also, India has made leaps and bounds in the industrial sector. India is the world’s largest IT sourcing destination with 67% of the 130 billion USD coming to India. This has triggered growth, outsourcing of projects, adopting newer technologies, and a competitive attitude.

According to the Grant Thornton Global Dynamism Index, India is the fifth-best country in the world for dynamic growing businesses. Also, Deloitte predicts that India will be the second-largest manufacturing country in the upcoming five years.

Clyde V. Prestowitz Jr., the founder, and president of the Economic Strategy Institute has predicted that “It is going to be India’s century. India is going to be the biggest economy in the world. It is going to be the biggest superpower of the 21^st century.”

What do you think does India have the capability to become a superpower?