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Indian Century

Topic: Social

 From HandWiki - Reading time: 17 min

Short description: Idea that the 21st century may be dominated by India
Republic of India

The Indian Century[1][2] is a neologism suggesting that the 21st century may be dominated by India, as the 20th century is often called the American Century,[3] and the 19th century British Century.[4][5] The phrase is particularly used in the assertion that India's economy could overtake[6][7] the economies of the United States and the economy of China as the largest national economy in the world,[8] a position it historically held[9] from the 1st to the 18th century CE.[10]

Debates and factors

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.[11][12][13]

As per a report released by Federation of Indian Chambers of Commerce & Industry (FICCI) and McKinsey & Company titled "India’s Century – Achieving sustainable, inclusive growth", India has the potential to become an "economic superpower" before its 100th year of Independence (2047).[14][15]

India is a member of Build Back Better World and has also created North–South Transport Corridor as an alternative to the Belt and Road Initiative policy initiative of China (PRC),[16][17][18] to link in with Iran, Russia, the Caucasus, and Central Asia. In 2017, India and Japan[19][20] joined together to form the Asia-Africa Growth Corridor in order to better integrate the economies of South, Southeast, and East Asia with Oceania and Africa.[19][20] India also engages in the Quadrilateral Security Dialogue and in Malabar (naval exercise) as part of a China containment policy.

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Top five countries by military expenditure in 2023[21]

One of the key factors includes its populous democracy.[22][23] According to a United Nations report, India overtook China to become the world's most populous nation in 2023.[24] Its size and location in Asia and the Indian Ocean poises it to play a significant role in matters around the world, as demonstrated during its time in the British Empire, though this history is also a factor in China's opposition to India's rise.[25]

Economists and researchers at Harvard University have projected India's 7% projected annual growth rate through 2024 will continue to put it ahead of China, making India the fastest growing major economy in the world.[26][27] In 2017, the Center for International Development at Harvard University published a research study[28] projecting that India has emerged[28] as the economic pole of global growth by surpassing China and is expected to maintain its lead over the coming decade.[28]

India has very recently been considered either a major great power or to be emerging as such (well beyond middle powers) and is generally considered an emerging superpower due to its large and stable population and its rapidly growing economic and military sectors.[29]

Data

GDP (nominal) past and forecasts

  1. REDIRECT Template:Row hover highlight
The top 15 largest economies in the world (GDP nominal from 1990-2030 in billions USD)[30][31]
Country 1990 Country 2000 Country 2010 Country 2020 Country 2030
 United States 5,963  United States 10,250  United States 15,048  United States 21,354  United States 37,153
 Japan 3,185  Japan 4,968  China 6,138  China 15,103  China 25,827
 Germany 1,604  Germany 1,967  Japan 5,759  Japan 5,054  India 6,769
 France 1,260  United Kingdom 1,668  Germany 3,470  Germany 3,936  Germany 5,575
 United Kingdom 1,197  France 1,361  France 2,648  United Kingdom 2,698  Japan 4,994
 Italy 1,164  China 1,220  United Kingdom 2,487  India 2,674  United Kingdom 4,955
 Canada 596  Italy 1,150  Brazil 2,208  France 2,645  France 3,754
 Iran 581  Canada 744  Italy 2,146  Italy 1,905  Canada 2,792
 Spain 536  Mexico 742  India 1,675  South Korea 1,744  Italy 2,779
 Brazil 455  Brazil 655  South Africa 1,633  Canada 1,655  Brazil 2,679
 China 397  Spain 598  Canada 1,617  South Africa 1,488  South Africa 2,384
 Australia 324  South Korea 597  Spain 1,429  Brazil 1,476  Spain 2,201
 Netherlands 321  India 468  Australia 1,254  Australia 1,362  Australia 2,181
 India 320  Netherlands 417  South Korea 1,192  Spain 1,288  Mexico 2,151
 Mexico 307  Australia 400  Mexico 1,105  Mexico 1,121  South Korea 2,149

See also

  • Angus Maddison statistics of the ten largest economies by GDP (PPP)
  • Asian Century
  • Chinese Century
  • Pax Britannica
  • American Century
  • Greater India
  • History of Indian influence on Southeast Asia
  • Indianisation
  • Indianization of Southeast Asia
  • India as a potential superpower
  • New world order
  • Potential superpowers
  • The Next 100 Years: A Forecast for the 21st Century

References

  1. ↑ Nayan Chanda; Clyde Prestowitz (3 December 2012). A World Connected. Yale University Press. ISBN 978-0977992201. https://books.google.com/books?id=a_Xhxv5YDjkC&pg=PA19. 
  2. ↑ Martin Halliwell; Catherine Morley (2008). American Thought and Culture in the 21st Century. Oxford University Press. p. 10. ISBN 9780748626021. https://books.google.com/books?id=l2k5zrO23aAC&pg=PA10. 
  3. ↑ "21st century is going to be Indian century: Alagappan". 1 December 2007. http://news.oneindia.in/2007/12/01/21st-century-is-going-to-be-indian-century-alagappan-1196517764.html. 
  4. ↑ Halliwell, Martin; Catherine Morley (2008). American Thought and Culture in the 21st Century. Edinburgh University Press. pp. 9–10. ISBN 978-0748626021. 
  5. ↑ admin (2014-06-04). "Empires and Colonialism in the 19th Century" (in en-US). https://numismatics.org/empires-and-colonialism-in-the-19th-century/.  Alt URL
  6. ↑ "The West and the Rest in the International Economic Order". Organisation for Economic Co-operation and Development. http://oecdobserver.org/news/archivestory.php/aid/884/The_West_and_the_Rest_in_the_International_Economic_Order.html. 
  7. ↑ "China, India to Overtake U.S. Economy by 2050". U.S. News & World Report. https://www.usnews.com/news/articles/2017-02-07/china-india-to-overtake-us-economy-by-2050. 
  8. ↑ "Of Oxford, economics, empire, and freedom". The Hindu (Chennai). 2 October 2005. http://www.hindu.com/2005/07/10/stories/2005071002301000.htm. 
  9. ↑ An Era of Darkness: The British Empire in India. Aleph Book Company. 2016. ISBN 978-9383064656. 
  10. ↑ Schmidt, Karl J. (2015-05-20) (in en). An Atlas and Survey of South Asian History. Routledge. ISBN 978-1-317-47681-8. https://books.google.com/books?id=BqdzCQAAQBAJ&pg=PA100. Retrieved 21 October 2024.  Alt URL
  11. ↑ Banda, Madhuri; Patrao, Clifford; Marshall, Anthony. "Indian Century - Defining India's place in a rapidly changing global economy". Institute for Business Value. https://www.ibm.com/thought-leadership/institute-business-value/report/indiancentury. 
  12. ↑ Team, BS Web (10 December 2015). "India to be world's highest growth nation in 21st century: IBM study". Business Standard. http://www.business-standard.com/article/economy-policy/india-to-be-world-s-highest-growth-nation-in-21st-century-ibm-study-115121000918_1.html. 
  13. ↑ "21st century is India's century: IBM chief Virginia Rometty". Moneycontrol.com. 14 July 2015. http://www.moneycontrol.com/news/economy/21st-century-is-indias-century-ibm-chief-virginia-rometty_1963021.html. 
  14. ↑ Anand, Saurav (2022-12-16). "FICCI, McKinsey lays down roadmap to achieve ₹10 L per capita income by 2047" (in en). https://www.livemint.com/economy/ficci-mckinsey-lays-down-roadmap-to-achieve-rs-10-lakh-per-capita-income-by-2047-11671201066920.html. 
  15. ↑ "India's Century – Achieving sustainable, inclusive growth". FICCI; McKinsey & Company. December 2022. https://india-century.com/reports/report.pdf. 
  16. ↑ "India ratifies TIR Convention to access transnational multi-modal connectivity". Mint. 19 June 2017. http://www.livemint.com/Politics/dqvNmMJGbqQAC8pYZPAYdI/India-ratifies-TIR-Convention-to-access-transnational-multi.html. 
  17. ↑ "Watch Out, China: India Is Building A 'New Silk Road' Of Its Own". Forbes. https://www.forbes.com/sites/wadeshepard/2017/06/28/watch-out-china-india-is-building-a-new-silk-road-of-its-own/#515c8a5a90ec. 
  18. ↑ "PM Modi in Russia: How fastracking North-South corridor will help India counter Chinese OBOR". The Financial Express (India). June 2017. http://www.financialexpress.com/india-news/pm-modi-in-russia-how-fastracking-north-south-corridor-will-help-india-counter-chinese-obor/696639/. 
  19. ↑ 19.0 19.1 "India And Japan Join Forces To Counter China And Build Their Own New Silk Road". Forbes. https://www.forbes.com/sites/wadeshepard/2017/07/31/india-and-japan-join-forces-to-counter-china-and-build-their-own-new-silk-road/#2fb1ae0b4982. 
  20. ↑ 20.0 20.1 "Ignoring OBOR, India and Japan forge ahead with joint connectivity project". The Economic Times. http://economictimes.indiatimes.com/news/politics-and-nation/ignoring-obor-india-and-japan-forge-ahead-with-joint-connectivity-project/articleshow/59830218.cms. 
  21. ↑ "Trends in World Military Expenditure, 2023". Stockholm International Peace Research Institute. April 2024. https://www.sipri.org/sites/default/files/2024-04/2404_fs_milex_2023.pdf. 
  22. ↑ "'India’s decade could pave way for an Indian century'." Hindustan Times.
  23. ↑ "Next century will be India's, says WSJ". Oman Tribune. http://www.omantribune.com/index.php?page=news&id=61484&heading=India. 
  24. ↑ "UN DESA Policy Brief No. 153: India overtakes China as the world's most populous country". https://www.un.org/development/desa/dpad/publication/un-desa-policy-brief-no-153-india-overtakes-china-as-the-worlds-most-populous-country/. 
  25. ↑ "GMF – The New Great Game: Why the Bush administration has embraced India". 2008-12-16. http://www.gmfus.org/publications/article.cfm?parent_type=P&id=254. 
  26. ↑ "New Growth Projections Predict the Rise of India, East Africa and Fall of Oil Economies". 7 May 2015. http://www.hks.harvard.edu/news-events/news/articles/new-growth-projections. 
  27. ↑ "India Will Be Fastest-Growing Economy for Coming Decade, Harvard Researchers Predict". 1 January 2016. https://blogs.wsj.com/indiarealtime/2016/01/01/india-will-be-fastest-growing-economy-for-coming-decade-harvard-researchers-predict/. 
  28. ↑ 28.0 28.1 28.2 "New 2025 Global Growth Projections Predict China's Further Slowdown and the Continued Rise of India". Harvard University. http://atlas.cid.harvard.edu/rankings/growth-predictions/. 
  29. ↑ Lydon, Christopher (6 August 2010). "Real India: A Historian's Cautions on "The Indian Century" (AUDIO)". Huffington Post. https://www.huffingtonpost.com/christopher-lydon/real-india-a-historians-c_b_673262.html. 
  30. ↑ "World Economic Outlook Database April 2025". https://www.imf.org/en/Publications/WEO/weo-database/2025/April. 
  31. ↑ "UN data 'Downloads'". https://unstats.un.org/unsd/snaama/Downloads. 

Further reading

  • "Is this the Indian century?" The Guardian.
  • China's Century — or India's? Time
  • India, China to become superpowers in two decades The Economic Times.
  • China and India: The Power of Two Harvard Business Review
  • "Lesson From Old India" The New York Times
  • Dirks, Nicholas (2008) The Scandal of Empire: India and the Creation of Imperial Britain. Belknap Press ISBN 978-0-674-02724-4.
  • Durant, Will (1930) The Case for India. New York: Simon and Schuster.
  • Gupte, Pranay (29 December 2013). "The Indian Century, great war to 2014". Deccan Chronicle. https://www.deccanchronicle.com/131229/commentary-sunday-chronicle/article/indian-century-great-war-2014. 
  • Kennedy, Paul (1989) The Rise and Fall of the Great Powers. Vintage. ISBN 978-0-679-72019-5.
  • Lak, Daniel (2009) India Express: The Future of the New Superpower. Palgrave Macmillan ISBN 0-230-61759-X.
  • Luce, Edward (2008) In Spite of the Gods: The Rise of Modern India. Anchor ISBN 978-1-4000-7977-3.
  • Marks, Robert (2007) The Origins of the Modern World: A Global and Ecological Narrative from the Fifteenth to the Twenty-first Century. Rowman & Littlefield Publishers ISBN 978-0-7425-5419-1.
  • McKinsey & Company Inc. (2013) Reimagining India: Unlocking the Potential of Asia's Next Superpower. Simon & Schuster ISBN 978-1-4767-3530-6.
  • Meredith, Robyn (2008) The Elephant and the Dragon: The Rise of India and China and What It Means for All of Us. W. W. Norton & Company ISBN 978-0-393-33193-6.
  • Parthasarathi, Prasannan (2011) Why Europe Grew Rich and Asia Did Not : Global Economic Divergence, 1600–1850. Cambridge University Press ISBN 978-0-521-16824-3.
  • Rothermund, Dietmar (2008) India: The Rise of an Asian Giant. Yale University Press ISBN 978-0-300-11309-9
  • Sieff, Martin (2010) Shifting Superpowers: The New and Emerging Relationships between the United States, China and India. Cato Institute ISBN 978-1-935308-21-8.
  • Smith, Jeff (2013) Cold Peace: China-India Rivalry in the Twenty-First Century. Lexington Books ISBN 978-0-7391-8278-9.
  • Tharoor, Shashi (2012) Pax Indica: India and the World of the Twenty-First Century. Penguin Global ISBN 978-0-670-08574-3.



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