Why India will become a superpower
The nation can play a big part in shaping the world’s future, but its internal challenges are formidable
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“I HAVE an unwavering belief that in 2047, when the country celebrates 100 years of independence, my country will be a developed India.”
Thus did Narendra Modi, India’s prime minister, address his country on Independence Day 2023. Is his aspiration a feasible one? Yes. Is it a plausible one? No. But it is still likely that India will be a superpower by that time, with an economy, on one measure, as large as that of the United States. So, how might India get there? What challenges will it face? What might it mean for the world?
I addressed the topic of India’s economic future in lectures last week at the National Council of Applied Economic Research and the Consumer Unity and Trust Society in New Delhi. I illustrated the challenge of becoming a high-income country by comparing India with the poorest country ranked as “advanced” by the International Monetary Fund (IMF) – Greece.
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