Oxford dictionary describes optimism as `hopefulness and confidence about future'. That's precisely what we feel when we think of India in 2020. It is poised to be a significant player in the global arena and by the end of this decade, life in the world's second populous country would also change for the better.

Yes, the change is possible, though the ongoing journey from a developing nation to a developed nation isn't free of challenges. There is no ambiguity on India's 1.21 billion population overtaking China's 1.34 billion. However, it's not just the population that would see an upward swing.

The economy is set to total $5.6 trillion by 2020 from the present $1.7 trillion, achieving a real GDP growth rate of 9.2 per cent. If the Dun & Bradstreet prediction comes true, India's global economy ranking would be 7th from the present 10th. That may sound a bit irrational with the current economic growth rate of 6.9% . But if finance minister Pranab Mukherjee is to be believed, the economic growth will be 7.5 per cent in 2012. And we haven't forgotten how India dealt during the recession and emerged as the least affected economy.

That was possible with many existing challenges-- rising population, poverty (one child dies every 15 seconds) and corruption. So, when we look at the big picture of development in the past 60 years, change is very much evident, though at a slower pace. But that is not the only reason for our surging optimism.

India is among the most attractive destinations globally for investments and business. There has been a steady increase in the foreign direct investment (FDI). Over the next two years, India could attract FDI worth $ 80 billion, according to Morgan Stanley.

And that dynamism is not just restricted to the business sector. India can as well aim at the Sun with the kind of expertise it has in space technology. Vast pool of talent makes it a possibility. Very few countries have the ability to launch their own satellites. And India, the country with high rate of illiteracy, figures among them.

On the military front, India maintains the world's third largest active armed forces and is a nuclear weapon state too.
According to Stockholm International Peace Research Institute, India is the world's largest arms importer, much ahead of China. For any nation, increased military power is a tool to play a positive role in the international arena. India's bid to the United Nations (UN) Security Council seat and the support it has got from US, UK and Germany is an indication to the fact that India will overcome all regional issues and be ready for a bigger global role.

That includes the power to tackle nagging neighbors Pakistan and China with rapid modernization of the armed forces. However, the growing military power also means the emergence of new challenges. Terrorism may bruise India, but will not halt growth. Well, we are optimistic, cautiously optimistic about the world hearing the roar of the Asian Tiger. And that's not just a hope.

Source: ciol.com, Dec 7, 2011