New Delhi: India surpassed Japan to become the third-largest power in the Asia Power Index, according to an official statement by Ministry of Information and Broadcasting on Wednesday.
The ministry highlighted that this achievement is driven by India's dynamic growth, youthful population, and expanding economy, solidifying its position as a leading force in the region. It also reflects country's increasing geopolitical stature.
"In a major shift, India surpassed Japan to become the third-largest power in the Asia Power Index, reflecting its increasing geopolitical stature" said the ministry.
India's Steady Rise in the 2024 Asia Power Index: Key Factors and Growth
The Asia Power Index, launched by the Lowy Institute in 2018, is an annual measure of power dynamics in the Asia-Pacific region. It evaluates 27 countries across the Asia-Pacific, examining their ability to shape and respond to the external environment.
As per the ministry, one of the most significant findings in the 2024 Asia Power Index is India's steady rise in the regional power rankings. Witnessing a gradual rise, India is looking to achieve its full potential and exercise its influence in the region.
The key factors behind India's rise is the economic growth, ministry says that the country has shown remarkable post-pandemic economic recovery, contributing to a 4.2-point rise in its Economic Capability.
"India has shown remarkable post-pandemic economic recovery, contributing to a 4.2-point rise in its Economic Capability. India's massive population and strong GDP growth reinforce its standing as the world's third-largest economy in PPP terms" the ministry added.
It also noted that India's Future Resources score increased by 8.2 points, signalling a potential demographic dividend. Unlike its regional competitors, particularly China and Japan, India benefits from a youthful population that will continue to drive economic growth and labour force expansion in the coming decades.
The index also highlighted India's increasing role in multilateral diplomacy and regional security. India's leadership in the Quad and participation in various regional dialogues have allowed it to exert influence in security matters without formal military alliances.
Although its economic outreach has been more limited, defense sales like the BrahMos missile deal with the Philippines point to India's growing geopolitical ambitions.
The Asia Power Index evaluates countries based on eight core measures, divided into resource-based and influence-based determinants. These include Economic Capability, Military Capability, Resilience, Future Resources, Economic Relationships, Defense Networks, Diplomatic Influence, and Cultural Influence. India's strong performance across these categories highlights its growing role as a major power in the region.
—ANI