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

India has created North–South Transport Corridor as an alternative to the Belt and Road Initiative policy initiative of China (PRC),[11][12][13] to link in with Iran, Russia, the Caucasus, and Central Asia. In 2017, India and Japan[14][15] joined together to form Asia-Africa Growth Corridor, to better integrate the economies of South, Southeast, and East Asia with Oceania and Africa.[14][15] India also engages in Quadrilateral Security Dialogue and Malabar (naval exercise) for China containment policy.

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.[16][17][18]

Factors

Top five countries by military expenditure in 2016.
According to the Stockholm International Peace Research Institute.[19]

One of the key factors includes its populous democracy.[20][21] As per United Nations report, India will overtake China to become the world's most populous nation by 2022.[22][23]

Economists and researchers at Harvard University have projected India's 7% projected annual growth rate through 2024 will continue to put it ahead of China, making India the fastest growing major economy in the world.[24][25] In 2017, the Center for International Development at Harvard University published a research study[26] projecting that India has emerged[26] as the economic pole of global growth by surpassing China and is expected to maintain its lead over the coming decade.[26]

India is generally considered an emerging great power due to its large and stable population and its rapidly growing economic and military sectors.[27]

See also

References

  1. ^ Nayan Chanda; Clyde Prestowitz (3 December 2012). A World Connected. Yale University Press. ISBN 978-0977992201.
  2. ^ Martin Halliwell; Catherine Morley (2008). American Thought and Culture in the 21st Century. Oxford University Press. p. 10. ISBN 9780748626021.
  3. ^ "21st century is going to be Indian century: Alagappan." December 1, 2007. OneIndia News/(UNI).
  4. ^ Halliwell, Martin; Catherine Morley (2008). American Thought and Culture in the 21st Century. Edinburgh University Press. pp. 9–10. ISBN 978-0748626021.
  5. ^ "The West and the Rest in the International Economic Order". Organisation for Economic Co-operation and Development. Retrieved 2 July 2017.
  6. ^ "China, India to Overtake U.S. Economy by 2050". U.S. News & World Report. Retrieved 2 July 2017.
  7. ^ "Of Oxford, economics, empire, and freedom". The Hindu. Chennai. 2 October 2005. Retrieved 6 December 2010.
  8. ^ An Era of Darkness: The British Empire in India. Aleph Book Company. 2016. ISBN 978-9383064656.
  9. ^ http://glavkonstruktor.ru/upload/img/ADFQtcg.png
  10. ^ 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.
  11. ^ "India ratifies TIR Convention to access transnational multi-modal connectivity". Mint. Retrieved 30 June 2017.
  12. ^ "Watch Out, China: India Is Building A 'New Silk Road' Of Its Own". Forbes. Retrieved 30 June 2017.
  13. ^ "PM Modi in Russia: How fastracking North-South corridor will help India counter Chinese OBOR". The Financial Express (India). Retrieved 30 June 2017.
  14. ^ a b "India And Japan Join Forces To Counter China And Build Their Own New Silk Road". Forbes. Retrieved 1 August 2017.
  15. ^ a b "Ignoring OBOR, India and Japan forge ahead with joint connectivity project". The Economic Times. Retrieved 1 August 2017.
  16. ^ Banda, Madhuri; Patrao, Clifford; Marshall, Anthony. "Indian Century - Defining India's place in a rapidly changing global economy". Institute for Business Value. Retrieved 29 August 2020.
  17. ^ "India to be world's highest growth nation in 21st century: IBM study". Business Standard. Retrieved 11 February 2016.
  18. ^ "21st century is India's century: IBM chief Virginia Rometty". Moneycontrol.com. Retrieved 11 February 2016.
  19. ^ "Trends in World Military Expenditure, 2019" (PDF). Stockholm International Peace Research Institute. Retrieved 27 April 2020.
  20. ^ "'India’s decade could pave way for an Indian century'." Archived 2013-05-08 at the Wayback Machine Hindustan Times.
  21. ^ "Next century will be India's, says WSJ". Oman Tribune. Archived from the original on 19 January 2015.
  22. ^ "India 'to overtake China's population by 2022' - UN". BBC. Retrieved 30 June 2017.
  23. ^ "World Population Prospects 2017 - UN". United Nations. Retrieved 30 June 2017.
  24. ^ "New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies". 7 May 2015. Retrieved 12 April 2016.
  25. ^ "India Will Be Fastest-Growing Economy for Coming Decade, Harvard Researchers Predict". The Wall Street Journal. 1 January 2016. Retrieved 12 April 2016.
  26. ^ a b c "New 2025 Global Growth Projections Predict China's Further Slowdown and the Continued Rise of India". Harvard University. Retrieved 10 July 2017.
  27. ^ Lydon, Christopher (6 August 2010). "Real India: A Historian's Cautions on "The Indian Century" (AUDIO)". Huffington Post.

Further reading

  • "Is this the Indian century?" The Guardian.
  • China's Century — or India's? Time
  • India, China to become superpowers in two decades The Economic Times.
  • China and India: The Power of Two Harvard Business Review
  • "Lesson From Old India" The New York Times
  • Dirks, Nicholas (2008) The Scandal of Empire: India and the Creation of Imperial Britain. Belknap Press ISBN 978-0-674-02724-4.
  • Durant, Will (1930) The Case for India. New York: Simon and Schuster.
  • Gupte, Pranay (29 December 2013). "The Indian Century, great war to 2014". Deccan Chronicle.
  • Kennedy, Paul (1989) The Rise and Fall of the Great Powers. Vintage. ISBN 978-0-679-72019-5.
  • Lak, Daniel (2009) India Express: The Future of the New Superpower. Palgrave Macmillan ISBN 0-230-61759-X.
  • Luce, Edward (2008) In Spite of the Gods: The Rise of Modern India. Anchor ISBN 978-1-4000-7977-3.
  • Marks, Robert (2007) The Origins of the Modern World: A Global and Ecological Narrative from the Fifteenth to the Twenty-first Century. Rowman & Littlefield Publishers ISBN 978-0-7425-5419-1.
  • McKinsey & Company Inc. (2013) Reimagining India: Unlocking the Potential of Asia's Next Superpower. Simon & Schuster ISBN 978-1-4767-3530-6.
  • Meredith, Robyn (2008) The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us. W. W. Norton & Company ISBN 978-0-393-33193-6.
  • Parthasarathi, Prasannan (2011) Why Europe Grew Rich and Asia Did Not : Global Economic Divergence, 1600–1850. Cambridge University Press ISBN 978-0-521-16824-3.
  • Rothermund, Dietmar (2008) India: The Rise of an Asian Giant. Yale University Press ISBN 978-0-300-11309-9
  • Sieff, Martin (2010) Shifting Superpowers: The New and Emerging Relationships between the United States, China and India. Cato Institute ISBN 978-1-935308-21-8.
  • Smith, Jeff (2013) Cold Peace: China-India Rivalry in the Twenty-First Century. Lexington Books ISBN 978-0-7391-8278-9.
  • Tharoor, Shashi (2012) Pax Indica: India and the World of the Twenty-First Century. Penguin Global ISBN 978-0-670-08574-3.

External links