A shadow on India's Growth : Rise of Inequality
India has become the fifth largest economy this year surpassing its former colonizer, with a gross domestic product of roughly 3.5 trillion USD. Further, it ranks third in the world following China and USA in PPP. India is estimated to surpass Japan and Germany to become the third largest economy by 2027 with the 5 trillion milestones. The upcoming trade agreements with the UK, UAE, Australia, and Middle East; engaging G7 nations in Indo - Pacific (with Canada being the latest addition); being the intersection of BRICS, SCO, QUAD, and I2U2; exhibiting military drills with China, Russia (Vostok) and with USA (YudhAbhyas); presidency of G20 in 2023, exhibits India's growing soft power and economic - military hard power. This all looks gloomy when India is one of the worst performers on the global inequality index. In fact, the overall inequality index is improved when India is excluded*. The following heat maps indicate the severity of the problem when India aligns with African, and ...