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The Indian Century or India as an emerging superpower is a neologism referring to the possibility that the 21st century will be dominated by India, similarly to how the 20th century is often called the American Century, and the 19th century the British Century.[disputed ] It is used particularly in the assertion that the Indian economy shall grow and overtake the economy of the United States as the largest economy in the world, although the PRC is often labelled as the worlds future largest economy as well.
According to economic historian Angus Maddison in his book The World Economy: A Millennial Perspective, India was the richest country in the world and had the world's largest economy during 0 BCE and 1000 BCE. Also for most of the period when China was the dominant economy in the world, India held the second position of the largest economy. India's share of the world income (economic output) was 27% in 1700 (compared to Europe's share of 23%) to 3% in 1950.
Many industries are established in the country due to investments in technology and in the professionalisation of manpower, in addition to its tradition of Exact Sciences.[clarification needed] However, several problems such as economic, political, and social problems need to be overcome to be considered a superpower. It also[dubious ] have much global influence as compared to other countries like the United States[dubious ].
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