Indian Century

Republic of India

The Indian Century[1][2] (or India's Century[3]) is the possibility that the 21st century will be dominated by India, similarly to how the 20th century is often called the American Century,[4] and the 19th century as Pax Britannica (British Peace).[5] The phrase is used particularly in the assertion[6] that the economy of India could overtake[6][7][8] the economy of the United States and economy of China as the largest national economy in the world,[9] a position it held[10] from 1 to 1500 A.D. and in 1700 A.D.[11][12]

India has created North–South Transport Corridor as an alternative to One Belt, One Road policy initiative of China (PRC),[13][14][15] to link in with Iran, Russia, the Caucasus, and Central Asia. In 2017, India and Japan[16][17] joined together to form Asia-Africa Growth Corridor, to better integrate the economies of South, Southeast, and East Asia with Oceania and Africa.[16][17]

According to the report named "Indian Century: Defining India's Place in a Rapidly Changing Global Economy" by IBM Institute for Business Value, India is predicted to be among the world’s highest-growth nations over the coming years.[18][19][20]

Factors

One of the key factors includes its populous democracy.[21][22] As per United Nations report, India will overtake China to become the world's most populous nation by 2022.[23][24]

Economists and Researchers at Harvard University have projected India’s 7% projected annual growth rate through 2024 would continue to put it ahead of China, making India the fastest growing economy in the world.[25][26] In 2017, Center for International Development at Harvard University, published a research study,[27] projecting that India has emerged[27] as the economic pole of global growth by surpassing China and is expected to maintain its lead over the coming decade.[27]

India is generally considered an emerging power due to its large and stable population, and its rapidly growing economic and military sectors[28]

See also

References

  1. Nayan Chanda; Clyde Prestowitz. A World Connected. Yale University Press.
  2. Martin Halliwell; Catherine Morley. American Thought and Culture in the 21st Century. Oxford University Press. p. 10.
  3. D. Arora, N. Political Science for Civil Services Main Examination. Tata McGraw-Hill Education. pp. 35–7.
  4. "21st century is going to be Indian century: Alagappan." December 1, 2007. OneIndia News/(UNI).
  5. Halliwell, Martin; Catherine Morley (2008). American Thought and Culture in the 21st Century. Edinburgh University Press. pp. 9–10. ISBN 978-0748626021.
  6. 1 2 "India will overtake the US to become the world's second biggest economy by 2050, with Russia becoming Europe's most powerful financial nation, economists predict". Daily Mail, UK. Retrieved 2 July 2017.
  7. "The West and the Rest in the International Economic Order". Organisation for Economic Co-operation and Development. Retrieved 2 July 2017.
  8. "China, India to Overtake U.S. Economy by 2050". U.S. News & World Report. Retrieved 2 July 2017.
  9. "Of Oxford, economics, empire, and freedom". The Hindu. Chennai. 2 October 2005. Retrieved 2010-12-06.
  10. An Era of Darkness: The British Empire in India. Aleph Book Company. ISBN 978-9383064656.
  11. http://glavkonstruktor.ru/upload/img/ADFQtcg.png
  12. Data Source: Tables of Prof. Angus Maddison (2010). The per capita GDP over various years and population data can be downloaded in a spreadsheet from here.
  13. "India ratifies TIR Convention to access transnational multi-modal connectivity". Mint. Retrieved 30 June 2017.
  14. "Watch Out, China: India Is Building A 'New Silk Road' Of Its Own". Forbes. Retrieved 30 June 2017.
  15. "PM Modi in Russia: How fastracking North-South corridor will help India counter Chinese OBOR". The Financial Express (India). Retrieved 30 June 2017.
  16. 1 2 "India And Japan Join Forces To Counter China And Build Their Own New Silk Road". Forbes. Retrieved 1 August 2017.
  17. 1 2 "Ignoring OBOR, India and Japan forge ahead with joint connectivity project". The Economic Times. Retrieved 1 August 2017.
  18. "Indian Century - Defining India's place in a rapidly changing global economy" (PDF). IBM. Retrieved 11 February 2016.
  19. "India to be world's highest growth nation in 21st century: IBM study". Business Standard. Retrieved 11 February 2016.
  20. "21st century is India's century: IBM chief Virginia Rometty". Moneycontrol.com. Retrieved 11 February 2016.
  21. "‘India’s decade could pave way for an Indian century’." Archived 2013-05-08 at the Wayback Machine. Hindustan Times.
  22. "Next century will be India's, says WSJ - Oman Tribune". omantribune. Archived from the original on 2015-01-19.
  23. "India 'to overtake China's population by 2022' - UN". BBC. Retrieved 30 June 2017.
  24. "World Population Prospects 2017 - UN". United Nations. Retrieved 30 June 2017.
  25. "New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies". 7 May 2015. Retrieved 12 April 2016.
  26. "India Will Be Fastest-Growing Economy for Coming Decade, Harvard Researchers Predict". 1 January 2016. Retrieved 12 April 2016.
  27. 1 2 3 "New 2025 Global Growth Projections Predict China's Further Slowdown and the Continued Rise of India". Harvard University. Retrieved 10 July 2017.
  28. Lydon, Christopher (6 August 2010). "Real India: A Historian's Cautions on "The Indian Century" (AUDIO)". Huffington Post.

Further reading

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