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India has officially surpassed Japan to emerge as the third most powerful nation in Asia, according to the 2024 edition of the Asia Power Index (API), launched by Australia’s Lowy Institute. In this latest ranking, India now stands just behind the United States and China, marking a significant milestone in the country’s geopolitical landscape. The Asia Power Index evaluates 27 countries across the Asia-Pacific region based on eight key parameters, including military capability, economic strength, and diplomatic influence. This comprehensive assessment provides crucial insights into the shifting power dynamics in the region. Notably, this year’s report includes Timor-Leste for the first time, underscoring its growing importance in Southeast Asia.
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Despite its ascendance, the report highlights that India’s influence remains below the potential suggested by its vast resources. The API indicates that while India has made notable strides, particularly in economic capability—growing by 4.2 points post-COVID—the gap between the narrative of "India rising" and its actual power projection in Asia remains pronounced. India's strengths lie in its substantial population, landmass, and burgeoning economy. With a youthful demographic poised to deliver a potential demographic dividend, India contrasts sharply with other aging nations in Asia, including its rival, China. However, the report notes that India's economic relationships are still a weak point. The country has lost ground in this area, recently overtaken by Indonesia in rankings.
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Moreover, India’s score in defence networks has declined for three consecutive years, now placing it ninth. This trend reflects its cautious approach to deepening security ties with the US alliance, despite efforts like the sale of BrahMos missiles to the Philippines. As India continues to navigate these challenges, its journey toward becoming a major power in Asia remains a work in progress, with ample room for growth and influence in the years to come.
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