India on the Global Stage
India has progressed from a rule taker to a rule shaper and from being a spectator to a major player in the global arena. India appears to be crafting a comprehensive strategy on multiple fronts. In foreign policy, India provided free COVID-19 vaccines to 101 countries, showcasing its commitment to global health. Balancing self-interest with multipolarity, India skilfully engages with the West, China, and Russia on its own terms. On the narrative front, India has pushed back against Canada on Khalistan terrorism and Europe on purchasing Russian oil. In defence, India maintains a zero-tolerance stance against Pakistan's use of terrorism as state policy and firmly stands up to China's territorial and technological incursions. Economically, India's high and sustained growth has led to free trade agreement negotiations with numerous countries. Additionally, the government is focusing on clean energy and securing critical minerals to ensure sustainable resource management.
The global economic arena is witnessing a change, with China's slowdown and Western nations viewing it as a rival rather than a partner. India, on the other hand, is emerging as a major growth driver. India's stock market is soaring, foreign investments are surging, and businesses are expanding, reflecting confidence in India's economic potential. Despite these positive trends, India's $3.94 trillion economy remains much paler than China's $18.5 trillion and the US $28.78 trillion economy in 2024.
Challenges of Low Per Capita Income
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