Power index: India ranks fourth out of 25 nations
India has ranked fourth out of 25 nations in the Asia-Pacific region on an index that measures their overall power, with the country being pegged as a "giant of the future" but trails behind in indicators of defense networks and economic relationships. India is ranked fourth overall on the inaugural index by The Lowy Institute, an Australian think tank.
A country's power is weighted across eight measures of power
The Lowy Institute Asia Power Index measures power across 25 countries and territories in the Asia-Pacific region, reaching Pakistan, Russia, and into the Pacific as Australia, New Zealand, and the US. A country's overall power is its weighted average across eight measures of power - economic resources, military capability, resilience, future trends, diplomatic influence, economic relationships, defense networks, and cultural influence.
Major power status is shared by India and Japan
Japan and India share major power status. Tokyo is a smart power, while New Delhi is a giant of the future, the report said.
By 2025, two-thirds of world's population will live in Asia
Among the key findings from the inaugural 2018 index are that the US remains the pre-eminent power, while China, the emerging superpower, is rapidly closing in on the United States. "Three of the world's four largest economies are in Asia, and the fourth, the United States, is a Pacific power. By 2025, two-thirds of the world's population will live in Asia, the Institute said.
Economic relationships measured in terms of various capacities
Lowy said economic relationships are measured in terms of the capacity of states or territories to exercise influence through economic interdependencies measured in terms of trade relations, investment ties, and economic diplomacy.
India has been ranked fifth on resilience
Asia's economic transformation is reshaping the global distribution of power, changing the way the region and indeed the world works politically and strategically. Just as significantly, tensions between Asian powers will define war and peace in the twenty-first century, the report added. India is ranked fourth on the parameters economic resources, military capability, diplomatic influence and fifth on resilience.
India ranks third for its aggregate resources score
The report said India ranks third for its aggregate resources score and is set to become Asia's fastest-growing economy, predicted to grow 169% between 2016 and 2030. It also stands to gain an additional 169 million people to its working-age population by 2030.
