India has officially overtaken Japan to become the third-largest power in the Asia Power Index, as announced by the Ministry of Information and Broadcasting on Wednesday. This significant milestone reflects India's growing influence and geopolitical stature in the Asia-Pacific region.
The ministry attributes India's rise in the Asia Power Index to its robust economic growth and youthful demographics. These elements have enhanced India’s capability to influence regional security dynamics and solidify its position as a leading force in Asia.
A Comprehensive Measure of Power
The Asia Power Index, introduced by the Lowy Institute in 2018, assesses the power dynamics among 27 countries in the Asia-Pacific region. It evaluates their ability to shape and respond to external challenges, making it a critical tool for understanding regional influence.
According to the ministry, the 2024 Asia Power Index reveals a gradual but steady rise for India in regional power rankings. The country aims to fully harness its potential and extend its influence across the region.
One of the key highlights of India's rise is its remarkable post-pandemic economic recovery, which contributed to a notable 4.2-point increase in its Economic Capability. The ministry emphasized that India's large population and strong GDP growth reinforce its position as the world’s third-largest economy in terms of purchasing power parity (PPP).
Demographic Advantages and Future Prospects
India's Future Resources score increased by 8.2 points, indicating a demographic dividend that is expected to drive economic growth and labor force expansion in the coming decades. Unlike regional competitors such as China and Japan, India benefits from a youthful population.
The index also underscores India’s expanding role in multilateral diplomacy and regional security. India’s leadership in initiatives like the Quad, along with active participation in various dialogues, has allowed it to exert influence in security matters, even without formal military alliances.
While India's economic outreach remains limited, its defense initiatives, such as the BrahMos missile deal with the Philippines, illustrate its growing geopolitical ambitions. The Asia Power Index evaluates countries based on eight core measures, including Economic Capability, Military Capability, and Diplomatic Influence, highlighting India's emerging role as a major power in the region.
With inputs from agencies
Image Source: Multiple agencies
© Copyright 2024. All Rights Reserved Powered by Vygr Media.
