India Rises To Third Spot, Surpasses Japan In Asia Power Index Amid Economic Growth, Young Population

9/25/2024 5:00:13 AM

(MENAFN- Live Mint) India has now surpassed Japan to become the third-largest power on the continent, according to the Asia Power index .

This shift in dynamics reflects India's “increasing geopolitical stature, dynamic growth, youthful population, and expanding economy”, the Ministry of Information and Broadcasting said in a release.

“One of the most significant findings in the 2024 Asia Power Index is India's steady rise in the regional power rankings. Witnessing a gradual rise, India is looking to achieve its full potential and exercise its influence in the region,” the Ministry stated.

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Economic Growth: India has shown post-pandemic economic recovery, contributing to a 4.2-point rise in its Economic Capability. India's massive population and strong GDP growth reinforced its standing as the world's third-largest economy in PPP terms.
Future Potential: India's Future Resources score increased by 8.2 points, signalling a potential demographic dividend. Unlike its regional competitors, particularly China and Japan , India“benefits from a youthful population that will continue to drive economic growth and labour force expansion in the coming decades,” the ministry noted.

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Diplomatic Influence: India's non-aligned strategic posture has allowed New Delhi to navigate complex international waters effectively, the release added. It noted that in 2023, India ranked sixth in terms of diplomatic dialogues, reflecting its active engagement in multilateral forums.
Cultural Influence: India's large population and economic capabilities offer substantial promise. India's score in cultural influence has also remained relatively strong, underpinned by its global diaspora and cultural exports.

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Multilateral Diplomacy: India's role in multilateral diplomacy and security cooperation has been emphasized. India's participation in dialogues and leadership in the Quad has allowed it to play a significant role in regional security dynamics, albeit outside of formal military alliances.
Economic Outreach: India's economic outreach, though limited, has seen incremental improvements, particularly in defence sales, such as the BrahMos missile deal with the Philippines, the ministry said. It added that these small developments suggest that“India is beginning to flex its geopolitical muscles beyond its immediate neighbourhood”.

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