India: The Rising Tiger and Shifting Tectonics of Global Power

As an Australian observer of international affairs, studying the evolving dynamics of global geopolitics is always captivating. One such evolution that has gripped my attention is India's economic transformation, for all the biased reasons.

In a noteworthy development, India has achieved a lunar milestone. Venturing into an uncharted area of the moon not previously explored stands as a testament to the capabilities of Indian scientists. What makes this even more striking is their relative budgetary constraints. It demonstrates that innovation isn’t always correlated with high expenditures. Their humility amidst this success offers a valuable lesson for many.

India has historically exhibited a stark contrast between abundant human talent and limited infrastructure. This imbalance has led to innovations that lean heavily on intellectual prowess rather than capital investments. Examples abound in the profundity of Indian classical music with modest instruments, computational brilliance in the absence of technological infrastructure, and the rich complexity of Indian cuisine relying on accessible ingredients. As India's economy grows, its improving infrastructure will diversify its global contributions. This shift, visible in the emergence of Indian fusion cuisine, means that as Indian influence expands, the nature of its cultural exports may become less nuanced, catering to a broader global audience. While this evolution ensures wider reach, the rich depth that typified Indian contributions might be missed at home and abroad.

Thirty years ago, our Australian economy was approximately 9% larger than India's. Today, however, we find ourselves in a different paradigm - India's economy is now more than double the size of Australia's—a sobering reminder of the volatile dynamics of international economics. India's phenomenal growth trajectory positions it as the world's fastest-growing major economy. Current projections suggest that this South Asian behemoth will surpass Japan and Germany within the next five years, solidifying its position as the world's third-largest economy. This shift is not merely a story of GDP numbers and economic indices; it's a tale of human potential, resilience, and societal transformation. In 2005, a majority of Indians, about 55%, were living below the poverty line, according to the UN Development Project. Fast-forward to 2021, and this figure has plunged to a remarkable 16%. This dramatic reduction underlines the immense scale of socio-economic progress that India has achieved.

Interestingly, as we observe India's spectacular ascent, there's another shift unfolding in the East - the gradual slowdown of China. The Chinese economic juggernaut, which has dominated global growth charts for decades, appears to be decelerating. These developments have profound implications for global geopolitics and Australia's foreign policy. With India's rise and China's relative slowdown, the centre of economic gravity is subtly but surely shifting. This emerging reality will influence Australia's diplomatic engagements, economic partnerships, and strategic alliances in the Indo-Pacific region.

Australia and other nations must acknowledge and adapt to this new geo-economic landscape as India continues to rise. We must recognise India's growth opportunities, from enhanced trade partnerships to cultural exchange and geopolitical collaboration. In essence, we're witnessing a new chapter in global power dynamics. As we grapple with these changes, let's remember that the key to navigating this new world order lies in understanding, adaptability, and foresight.

The tiger is on the prowl, and the world must be ready to engage.