NEW DELHI: India edged out Japan to claim the third spot in Asia Power Index, which has strengthened its claims to importance for the world at large.
The interesting reason behind this is rapid development in India along with a young population and high booming economy, therefore making it a key player in the region.
2024 Asia Power Index India's steadily growing rank in the Asian regional power rankings and the increasing potential for it to fully realize its influence in Asia.
Key reasons why India is rising:
1. Economic Growth: India's economy has fully recovered from the pandemic, with an increase of 4.2 points in its economic capabilities. The large population along with strong GDP growth gives India a position in ranking as the world's third-largest economy, when measured by purchasing power.
2. Future Resources: The scores of India's future resources improved by 8.2, with a promise of dynamic demographic edge. Not like China and Japan, infested by age, it is India whose working-age population will fuel the economy and expand its workforce in the days ahead.
3. Diplomatic Influence: With PM Narendra Modi at the helm, India has just got more international. Its very complicated 'non-alignment' concept, however, remains an internal instance that it helps navigate diplomatic engagement with the world. It ranks 6th in diplomatic engagement in 2023 and so takes active participation in all the global forums
Besides its population and economic influence, soft power emanates from the Indian culture, seen in the worldwide diaspora and cultural products.
India has focused on its multilateral diplomacy role and regional security. In terms of taking active participation in international discussions and leading initiatives, such as the Quad, India is involving itself more in regional security matters though does not belong to any formal military alliances. India's economic efforts are modestly improving with significant acquisitions like the BrahMos missile deal with the Philippines. These steps are miniscule, yet they lead to India putting itself on the world map in a dimension beyond its very immediate neighbors.
India in Asia
India has been classified as a rising power in the 2024 Asia Power Index. It has made remarkable progress in growing and prospering from a resource base that was already extremely powerful. The country's future will be pretty bright since it continues to enjoy economic growth plus an ever-increasing workforce. India is on the rise both diplomatically and on foreign policy, mainly because it does not follow other powers' orders but instead has its own foreign policy.
Asia Power Index Overview
The Lowy Institute introduced the Asia Power Index in 2018. It measures the exercise of power across 27 countries in the Asia-Pacific region across the ability to influence and response to change in the external environment. This 2024 edition is the most extensive so far, with Timor-Leste included for obvious reasons: its increase in influence in Southeast Asia would not be left out. In addition to its material strength, the Index also considers the influence of each country on the international level.
How Power is Measured
The Index assesses power in terms of two main indicators: resources and influence.
1. Resource-Based Factors:
- Economic Capability: This refers to the economic power of a country, taking factors such as Gross Domestic Product, technological prowess, and international trade as measures.
- Military Capability: Evaluating defensive spending, military might, and power projection.
- Resilience: Quantifies the ability of a country to sustain shocks, by relying on its political stability and security.
- Future Resources: Is predictive in nature; hence anticipates the outlook of a country's economy, military and demography up to 2035.
2. Influence-based factors:
- Economic Relations: Spelunks at which aspects of a country may use trade and investments to become an influence.
- Defence Networks: Measures the strength of the country's military connections and interactions.
A. Diplomatic Influence : is the measurement of participation of a country in international forums to its foreign policy ambitions.
B. Cultural Influence: it is a measurement of a country's influence in world public opinion through its culture, media, and international relations.
In calculating the overall power score of each country, these factors are averaged for a detailed picture of how countries convert their resources into influence in the Asia-Pacific region.
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