India recently welcomed key global leaders to the 18th G20 Summit in New Delhi, articulating the theme ‘One Earth, One Family, One Future.’ Following this significant event, the socio-economic standing of India in comparison to other G20 countries has come under comparison. The need to evaluate such a position is crucial as it directly impacts India’s global standing and decision-making capabilities within these influential forums.
India’s GDP per Capita Growth versus G20 Nations
Gross Domestic Product (GDP) per capita signifies the economic output per person and is calculated by dividing the gross value added by all resident producers in the economy by the mid-year population. In 1970, India was ranked 18 out of the 19 regions analysed, with a GDP per capita of USD 111.97. Fast forward to 2022, and India’s GDP per capita had increased to USD 2,388.62. However, when compared to the other regions, India remained at the bottom.
Human Development Index: Scale of Progress
The Human Development Index (HDI) is a composite statistical index assessing key dimensions of human development. These include life expectancy, expected years of schooling, mean years of schooling, and Gross National Income (GNI).
Comparing the HDI of 19 countries (excluding the European Union) from 1990 to 2021, India’s HDI improved from 0.43 in 1990 to 0.63 in 2021. This improvement reflects progress in life expectancy, education, and living standards. Despite this advancement, India still ranked at the bottom of the list.
Health Metrics: Life Expectancy and Infant Mortality
India’s average life expectancy increased from 45.22 years in 1990 to 67.24 years in 2021, surpassing South Africa but still trailing behind China. However, the country is still grappling with high infant mortality rates – while it improved from 88.8 in 1990 to 25.5 in 2021, India ranked 19th out of the 20 regions studied.
Labor Force Participation Rate and Women’s Representation in Parliament
In terms of Labor Force Participation Rate (LFPR), India’s ranking slipped from 18th in 1990 to 19th in 2021-22, only ahead of Italy, indicating a decrease in active participation in the workforce.
The percentage of women in the Indian Parliament has, however, increased from 8.1% in 1998 to 14.9% in 2022. Yet, compared to other G20 countries, India’s rank declined from 15th in 1998 to 18th in 2022, only outpacing Japan.
Environmental Performance: Emissions and Renewable Energy Sources
Despite being the lowest carbon emitter among the 20 regions, India’s progress towards adopting renewable energy sources has been slow. In 2015, just 5.36% of electricity generated in India was from renewables, ranking the country 13th among the 20 regions.
Way Forward for India
Given these indicators, India needs to focus on inclusive growth policies that ensure economic prosperity reaches all segments of society. Efforts should include targeted interventions for marginalized communities, rural development, and skill enhancement programs to bridge income disparities.
Healthcare initiatives focusing on reducing infant mortality by improving maternal and child healthcare services, immunisation, and sanitation infrastructure are needed.
Promoting gender equality through programs and policies to encourage women’s participation in the workforce and leadership roles is also vital. Moreover, concerted efforts to increase the adoption of eco-friendly energy sources and renewable energy generation are imperative for achieving sustainable development.
Finally, strengthening anti-corruption measures and promoting ethical governance at all levels is also important to ensure fair and balanced growth for all sections of society.
G-20 and India’s Priorities
The G-20 group was originally established to discuss international economic and financial issues and has since expanded its agenda to include trade, sustainable development, health, agriculture, energy, environment, climate change, and anti-corruption. Digital public infrastructure is one of India’s G-20 priorities as it can help countries achieve their national priorities and accelerate the Sustainable Development Goals. This reflects India’s commitment to leveraging technology for inclusive development.
While India has made strides in certain areas, there is still much work to do in order to improve the country’s socio-economic indicators and achieve balanced and inclusive development.