- Ahaan Mashruwala, IGCSE 1
This article analyses and highlights the key elements to India’s development and possible emergence as a global superpower. Naturally, there are many more aspects and perspectives to the topic, however, the some of the key ones have been illustrated here.
To start off, one key aspect of India’s development is its international relations; its ability to maintain diplomatic ties and strategic alliances with countries of all sorts – that have worked to its advantage.
To begin with, India is one of the few democracies in southeast Asia. Moreover, the country has been able to keep relations with both the western bloc (USA and EU) as well as Russia, something barely any country does. Most countries are either pro-Russian or pro-US, subtly or extremely. If neither, their foreign policy is to stay neutral. India, on the other hand, rather than choosing one or not supporting either, has decided to support and maintain ties with both sides, which is essential for its role as a rapidly developing economy, while maintaining a peace-seeking stance.
This has worked out for the nation due to the Russo-Ukrainian conflict, which led to sanctions from the western bloc, on Russian oil barrels, capping them at $60 a barrel (original price: $100) and refusal to import the oil from the US and EU. Russia relies highly on oil for its economy, accounting to 40-60% of its exports. The excess inventory of oil had to be sold somewhere. India, being the country’s strategic partner, imported significantly more of the crude oil than before (moreover at a discounted price!). The crude oil gets processed (into petrol & diesel, for example) in Indian refineries, making it Indian oil and no longer Russian crude oil.
India’s ability to keep alliances with the western bloc shines again; US and the EU will still need the oil they refuse to buy. India sells the sells the oil, at its original price of roughly $100 the US, EU, and Australia, making much more profit than before, making oil a commodity that contributes significantly to its economy. The US or EU cannot criticize the country for its strategy, for they are the gainers too.
May 2023 reports that India has become the largest shipper of oil to the EU (India was never really known for its oil exports up until now!). Crude oil contributed to 0.2% of the economy before, but now it’s been increased a 100 times; 20%, hitting a world record. 89,000 barrels of ‘Indian’ oil are imported into NYC every day! This generates an additional 300 rupees per head, a significant increase for the economy.
Now, let’s talk about space. The successful launch of Chandrayaan-3 makes India the 4th country to land on the moon! This matters back on Earth too, as countries that achieve this have a higher standing on the global stage. It’s one of the key steps towards a country’s emergence, especially as a superpower, an epitome being the cold war space race! Russia. USA. China. And now India. Moreover, it’s on the unexplored south pole, ranking India as the first country to explore the south pole of the moon and potentially providing the framework for related scientific research.
India was the 10th largest economy a few years ago. Today, it’s the 5th. And in the next few years (2026), IMF projects it to be the 3rd largest economy in the world! The country’s development rates are on of the fastest – the economy and country will be growing by 6.1% this year. To put into perspective, US will be growing by 1.3%, and Russia – 0.3%.
Despite the inevitable challenges, primarily socio-economic development and the population, the future for India and its long-awaited emergence on the global stage, possibly that of a superpower, looks promising.
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