India is predicted to emerge as an economic superpower amid the impending global economic landscape. The International Monetary Fund (IMF), World Bank, and prominent rating agencies forecast a slowdown in global growth due to Middle East conflicts, financial stress, persistent inflation, and reduced international trade [acbe6230]. However, India is projected to remain the fastest-growing major economy, with a growth rate of 6.6% [acbe6230]. India's central bank and international agencies recognize the country's resilience and potential for economic growth [acbe6230]. India has achieved 100% electrification in the power sector, become the world's fourth-largest producer of renewable energy, and is aggressively pushing research and innovations in green hydrogen energy [acbe6230]. The country has also made significant progress in the digital revolution, with the highest number of digital transactions globally and expanding online market access for small businesses [acbe6230]. India's exports have reached an all-time high of USD 778 billion, and it is anticipated to be among the top 10 economies for foreign direct investment (FDI) momentum in 2024 [acbe6230]. The government's focus on manufacturing, including the Production Linked Incentive (PLI) schemes, is attracting investment in sectors such as electric vehicles and electronics [acbe6230]. India's consumer market is expected to double by 2031, indicating significant growth potential [acbe6230]. Overall, India has become a prominent player in the global landscape, attracting the interest of investors, policymakers, and businesses worldwide [acbe6230] [b9270cc2] [8a0b32ac].
India has the potential to become a modern industrial giant in the next 10-15 years, which will change world history. This transformation will make India a frontline player and have several significant impacts. Firstly, India will play a crucial role in preserving world peace by acting as a buffer between the USA-Europe alliance and the China-Russia alliance. Secondly, India will prioritize the interests of underdeveloped countries and work towards abolishing poverty and helping them become developed and prosperous. Thirdly, India will advocate for the industrialization and prosperity of the whole world, breaking the divide between developed and underdeveloped countries. The author envisions India giving leadership to the world in the 21st century, leading to the creation of a new world order. The article highlights the historical struggle of underdeveloped countries and the potential of India, with its technical talent and natural resources, to become an industrial giant like the US or China [6cfc5216].
India must design a medium-term strategy that accounts for the multiple structural shifts taking place globally without losing focus on its development needs. Geopolitics and geoeconomics are causing fissures among great powers and major economies. Planetary tipping points, AI, widening inequality, and sustainability are other shifts. India should accelerate clean energy generation, catalyze industrialization with low-carbon fuels, secure future fuels, create a jobs-focused green economy, and ensure the quality of life for citizens. The foundations for a future-ready and sustainable India must be laid this decade [c6fd7da0].