MONEY SHARMA
ASIA

Modi 3.0 : India and the world.

Anjali

Some time back, India reached the status of a middle power, a nation with a significant global presence and strategic importance, yet not potent enough to reach the top tier of global powers. The reelection of Prime Minister Narendra Modi positions India to transition from a middle to a major power. However, this shift will pose challenges. Modi will commence his third term on June 8 with a reduced mandate, necessitating reliance on coalition partners who pledged their support on Wednesday.

Despite having less political leeway, foreign policy is unlikely to be significantly affected as there is broad multipartisan backing for Modi's enduring goal of enhancing India's global role and influence. India has emerged as a prominent international player, being the world's most populous country with the fifth-largest economy that is growing at a rapid pace.

It also boasts a swiftly expanding tech industry and, following its lunar landing last year, is now recognized as a formal space power. Modi has numerous incentives to capitalize on these accomplishments and expedite India's ascent in the global power structure. His focus has long been on bolstering India's international standing. The election manifesto of his Bharatiya Janata Party (BJP) in 2014, the year he assumed office, pledged to establish "a strong, self-reliant, self-confident India, regaining its rightful place in the comity of nations.

"Modi's guiding principle, Hindu nationalism, aims at enhancing India's strength on the global stage, not just domestically. He perceives Hindu nationalism as a soft power tool, intending to promote Lord Ram's legacy internationally. Modi has made significant strides in advancing India's global influence, securing its membership in various global forums and consolidating its status as a net security provider by boosting arms sales to Indo-Pacific partners and projecting naval power in the Middle East.

The expansion of Indian global power in Modi's third term presents both opportunities and challenges. While Washington and allied nations may gain a stronger partner to counterbalance China, India's support for multipolarity could potentially weaken U.S. dominance. India's growing influence also showcases a dilemma for the West in reconciling strategic partnerships with India's increasing illiberalism.

India's journey to becoming a major power under Modi's leadership is not guaranteed and requires significant adjustments, such as strengthening the economy for long-term stability, addressing youth unemployment, managing the China challenge, implementing defense reforms, and navigating a world marked by intense geopolitical competition.