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E-book India's global challenge : Growth and leadership in the 21st century
dia stands tall as a space power!” tweeted Prime Minister Narendra Modi just weeks before securing a second, spectac-ular landslide win in India’s general election in Spring 2019 by an even bigger margin than many had expected. Minutes earlier, he had announced in a rare televised speech that India had just succeeded in shooting down one of its own satellites in low-Earth orbit with a ballistic ground-to-space rocket. Modi also added that the effort had been a fully “indigenous” one, accomplished entirely by Indians. Blasting apart a satellite that orbits the globe at 17,000 mph, analysts say, represents a technological breakthrough, one that puts India in the small club of nations with such a capability, along with the United States, China, and Russia. The event es-tablished the country as a military space power and confirmed a significant military advance in an area where China want to be a dominant power. “Now, it’s India’s turn”, Prime Minister Modi assured the country in a speech arguing for a bigger role for it on the world stage, delivered in Kuala Lumpur back in 2015, one year after his Bharatiya Janata Party stormed to vic-tory in a landslide general election.India’s explosive economic growth over the last three decades has rapidly made it one of the world’s major emerging powers. Today, the country is at a tipping point both in terms of eco-nomic growth and in terms of the opportunities available to its people, who now number far more than one billion. India is the world’s sixth largest economy, with a GDP that has soared from US$270 billion in 1991 to US$2.6 trillion in 2017, and has a projected 2019 GDP growth rate of almost 7.5%, as the country continues – and will continue – to be a leading en-gine of world economic growth. India is also the world’s largest democracy – which China is not – and will soon become the world’s most populous nation, with almost 1.35 billion Indians in thousands of large (and growing) cities, as well as small towns and villages. Looking ahead to 2030, according to World Economic Forum estimates, India will still be a relatively young nation with an average age of 31 years (compared to 40 in the US and 42 in China), and will add more working-age citizens to the world’s workforce than any other country.
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