India’s Rise as a Global Economic Power
India’s Rise as a Global Economic Power Introduction India, the world’s most populous country as of 2023, is experiencing an economic transformation that positions it as a formidable global player. With a demographic dividend, a rapidly expanding digital economy, and increasing geopolitical influence, India is on track to become the third-largest economy in the world by the end of this decade. This article explores the multidimensional aspects of India’s economic ascent, its key growth drivers, challenges, and the path ahead. Demographic Dividend and Human Capital India boasts a young population, with a median age of around 28 years. This youth bulge translates into a large working-age population, offering the potential for increased productivity and consumption. Government initiatives like Skill India and Digital India aim to harness this potential by improving employability and digital literacy. Additionally, the proliferation of higher education institutions and growing focu...