① Huge population and market: Become the world’s most populous country by 2023
As you know, India is a huge country with a population of approximately 1.4 billion. Although the population growth rate has been on a downward trend in recent years, it is still projected to overtake China in 2023 and become the world’s largest. This is about twice the size of ASEAN, which is a huge economic region in Asia. In addition, it forms a population pyramid structure with many young people, and has an abundant working population.
In addition, as the economy develops, a thick middle class and wealthy class are forming, and it can be seen not only as a source of labor, but also as a very attractive market for the future.
② Rapid economic growth: becoming the third largest economy in the world
India has achieved high economic growth over the medium to long term. In recent years, there have been fluctuations in the GDP growth rate from year to year, partly due to the impact of the new coronavirus. is expected. On the whole, economic growth continues to be consistently high. Within a few years, it is expected to surpass Japan’s GDP to become the world’s third largest economy, and by 2050, it is expected to surpass the United States’ GDP.
③ The world’s largest democratic nation: Stable domestic administration and freedom of speech
India gained independence from British colonial rule after World War II. Despite having a large population, it has consistently maintained an elected parliamentary system, and currently reigns as the world’s largest democracy. Among emerging countries, there are many countries with political instability factors, but it can be said that India maintains a characteristic stability. For this reason, it is expected to maintain a favorable environment as a destination for capital investment from overseas and continue to develop in the future.
④ Increased international presence: Vast land area and geopolitical importance
India is the 7th largest country in the world and has a vast land area that is more than 8 times the size of Japan. In addition, the Indo-Pacific region is said to be a region of particular increasing importance in the trend of globalization in the 21st century. While there are many countries including major powers, the presence of expectations and envy for India, which is rapidly increasing its national power, is becoming more and more significant. The tug-of-war between powers over India is also expected to intensify.
⑤ Taking the world by storm network: A huge and expanding Indian network
The Indian government estimates that there are more than 30 million Indian immigrants living outside India. These people, known as Indian Abroad, are one of the world’s three largest immigration networks, along with Chinese and Jewish immigrants. In recent years, many IT engineers, entrepreneurs, and elite groups engaged in business development of multinational companies have been produced.