According to the report named ''"Indian Century: Defining India's Place in a Rapidly Changing Global Economy"'' by
IBM Institute for Business Value, India is predicted to be among the world's highest-growth nations over the coming years. As per a report released by
Federation of Indian Chambers of Commerce & Industry (FICCI) and
McKinsey & Company titled
"India’s Century – Achieving sustainable, inclusive growth", India has the potential to become an "
economic superpower" before its 100th year of
Independence (2047). India is a member of
Build Back Better World and has also created
North–South Transport Corridor as an alternative to the
Belt and Road Initiative policy initiative of China (PRC), to link in with Iran, Russia, the Caucasus, and Central Asia. In 2017, India and Japan joined together to form the
Asia-Africa Growth Corridor in order to better integrate the economies of South, Southeast, and East Asia with
Oceania and Africa. According to a
United Nations report, India overtook China to become the world's most populous nation in 2023. Its size and location in Asia and the Indian Ocean poises it to play a significant role in matters around the world, as demonstrated during its time in the British Empire, though this history is also a factor in China's opposition to India's rise. Economists and researchers at
Harvard University have projected India's 7% projected annual growth rate through 2024 will continue to put it ahead of China, making India the fastest growing major economy in the world. In 2017, the Center for International Development at Harvard University published a research study India has very recently been considered either a major
great power or to be emerging as such (well beyond middle powers) and is generally considered an
emerging superpower due to its large and stable population and its rapidly growing economic and military sectors. ==Data==