The Sydney-based think tank Lowy Institute has released the the annual Asia Power Index 2024.
Key findings of the index
- India ranks third in the annual Asia Power Index, surpassing Japan on the back of strong post-COVID 19 economic growth, while China’s power appeared to plateau just below the United States.
- The index put the U.S. at the top of its Asia Power Index with a score of 81.7, followed by China with a score of 72.7, India (39.1), Japan (38.9), Australia (31.9) and Russia (31.1).
- The Index ranks 27 countries and territories in terms of their capacity to shape their external environment. Its scope reaching as far west as Pakistan, as far north as Russia, and as far into the Pacific as Australia, New Zealand, and the U.S.
- India has shown remarkable post-pandemic economic recovery, contributing to a 4.2-point rise in its economic capability.
- India’s massive population and strong GDP growth reinforce its standing as the world’s third-largest economy in PPP terms.
- However, it has pointed out that India’s clout remains below the potential promised by its resources.
- It has been noted that Prime Minister Narendra Modi’s leadership has garnered greater international recognition.
- The index says that India’s participation in dialogues as well as its leadership in the Quad has allowed New Delhi to play a significant role in regional security dynamics, albeit outside of formal military alliances.
