INDIA WILL BE THE NEXT SUPERPOWER IN THE WORLD

 

This month, India reached a notable milestone. The country’s population surpassed that of China, which had held the No. 1 position for at least three centuries.

Alex Travelli, who covers South Asia and business for The Times, examines whether India can use its immense size to become an economic superpower.

First, India has surpassed China to become the world’s most populous nation. India’s population is expected to increase for at least the next 70 years, according to the UN. By 2090, its decrease might recur. But the statements are valid only if one makes the assumption that awful occurrences like wars, pestilences, famines, etc. do not take place. But China’s situation is unique in that a reduction in its population is anticipated.

Additionally, that will also last until 2090. Thus, there will be a growing population gap between these two nations. Second, Krishna Srinivasan predicted that the Asia-Pacific area will become a bright star on the world economic map in the near future during the most recent IMF meeting.

Growth of between 3.8 and 4.6 per cent has already been confirmed. It is also predicted that the Asia-Pacific region will control roughly 70 per cent of world growth. Just two nations – China and India – will be responsible for close to half of this growth. India (in FY23, India’s GDP grew by 7.2 per cent, above both market estimates and the RBI’s estimate of 7 per cent) will earn 15.4 per cent, and China 34.9 per cent.