The Indian Century (or India's Century) is the possibility that the 21st century will be dominated by India, similarly to how the 20th century is often called the American Century, and the 19th century as Pax Britannica (British Peace). The phrase is used particularly in the assertion that the economy of India could overtake the economy of the United States and economy of China as the largest national economy in the world, a position it held from 1 to 1500 A.D. and in 1700 A.D.
India has created North–South Transport Corridor as an alternative to One Belt, One Road policy initiative of China (PRC), to link in with Iran, Russia, the Caucasus, and Central Asia. In 2017, India and Japan joined together to form Asia-Africa Growth Corridor, to better integrate the economies of South, Southeast, and East Asia with Oceania and Africa.
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.
|Top five countries by military expenditure in 2016.|
According to the Stockholm International Peace Research Institute.
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 major economy in the world. In 2017, Center for International Development at Harvard University, published a research study, projecting that India has emerged as the economic pole of global growth by surpassing China and is expected to maintain its lead over the coming decade.
India is generally considered an emerging power due to its large and stable population, and its rapidly growing economic and military sectors.
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