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Recent analyses have positioned India as a significant player on the global stage, particularly in the context of emerging superpowers. According to the 2024 Asia Power Index by the Lowy Institute, India ranks as the third-most powerful nation in Asia, scoring 39.1 out of 100, surpassing Japan. This ranking places India behind only the United States and China, with the latter maintaining its military dominance despite facing economic hurdles [b7ab1b85]. However, the report notes that India's rise has been slower than expected, especially in exerting influence beyond the Malacca Strait [b7ab1b85].
In a broader context, Ray Dalio's 'Great Powers Index 2024' ranks India as the 7th global superpower, with projections indicating a robust annual GDP growth rate of 6.3% over the next decade. This growth is expected to double India's nominal GDP to over $7 trillion by the fiscal year 2030-31 [72a0ee81]. The United States remains the dominant superpower with a strength score of 0.89, while China follows closely with a score of 0.80 [72a0ee81].
The Asia Power Index also highlights Singapore's position at 8th, ahead of Indonesia at 9th, despite Indonesia's larger population and economy [b7ab1b85]. South Korea's cultural influence is acknowledged with its 8th place ranking, reflecting the global impact of K-pop and other cultural exports [b7ab1b85]. Meanwhile, North Korea ranks 9th in resilience due to its nuclear capabilities [b7ab1b85].
The global economic landscape is also shifting, with the UN projecting the world population to reach 8.5 billion by 2030. Global defense spending has increased by 6.8% to $2,443 billion, indicating a transition from a unipolar to a multipolar power structure [72a0ee81]. The Asia Power Index and Dalio's analysis together provide a comprehensive view of the evolving power dynamics in Asia and globally, emphasizing that traditional metrics such as population and economic size do not always equate to influence and resilience.