India is a growing world power, coming out of the pandemic, there is a world that is looking for more reliability in drug/vaccine manufacturing and less reliance on China. India has a strong democracy, is a nuclear power and is more than able to stand up to China. Many businesses are fleeing China and moving to India. Maybe in 20 years, most goods will have, “Made in India” stamped on them.
India’s Economy
- Worlds largest producer of generic drugs
- Supplies 50% of global demand for vaccines
- Very diversified chemical industry
- Known for its textile industry
- 5th largest producer of automobiles
- 2nd largest producer of steel
- 3rd largest producer of electricity
- 60% of GDP is domestic
- 6th largest GDP at $2.8 trillion
- 6th largest consumer market
- 2nd largest food producer
- 4th largest foreign reserves at $600 billion
- Strong IT sector generating $200 billion
- Population of 1,390 billion (China’s is 1,443 billion and USA’s population is 332 billion)
India is a growing regional power both politically and militarily. Its military budget is $71 billion, which is the third largest in the world. India has good relations with the west and not so good relations with Pakistan and China. India has a special relationship with Russia. It buys and manufactures (under license) Russian military hardware. Gets raw diamonds now from Russia, bypassing Dubai and Belgium. India is likely to get 10 new nuclear reactors built by Russia. However, Russia is also playing nice with Pakistan, which makes India nervous. Lately, India is looking at building stronger ties to the west.
image sources
- India_population: M Tracy Hunter | CC BY-SA 3.0