India: The Emerging Superpower of the World

Abstract

At present, India is counted among the emerging superpowers of the world. Mainly two stages can be seen in the journey of India’s economic development. The first can be considered as the period from the country’s attainment of independence on August 15, 1947 till the dissolution of the Soviet Union (1991) and the second from 1991 till the present time. The beginning of liberalization initiated in India was a bold decision which was taken in view of the then circumstances. In the National Democratic Alliance government, the then Prime Minister Shri Atal Bihari Vajpayee government once again made the entire world aware of India’s military capabilities by conducting nuclear tests (Pokhran-2) for the second time in the year 1998. During the United Progressive Alliance government, Prime Minister Dr. Manmohan Singh with great wisdom and tact gave a new direction to India’s relations with America, Russia, China, European Union, ASEAN etc. India’s civil nuclear agreement with America (123) can be considered a historic decision. In the year 2014, the (BJP-NDA) government was formed at the Center under the leadership of Shri Narendra Modi with a clear majority. After the Lok Sabha elections in the year 2019, Shri Narendra Modi again became the Prime Minister of the country. In the last decade, India has made unprecedented progress in many fields. At present India is the fifth largest economy in the world. The economies of all countries of the world were negatively affected by the Covid-19 pandemic. From the perspective of India as an emerging superpower, its large size, economic strength, military power, human capital and strategic advantages can be considered as its strengths. India is the largest democratic country in the world. India can become a bridge of peace in the present world divided into two opposing camps. India has won the trust of the countries of the world by presenting an example of human service through vaccine diplomacy in the Covid-19 pandemic. India has moved towards continuous progress and self-reliance in the fields of economic, military, food dependence, space, tourism, education, health etc. Positive results of Make-in-India and Bharat Self-reliant campaign are visible. There has been a continuous increase in foreign exchange reserves.