From the Economist's "Together at last," Jul 19th 2005
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The change in America’s attitude reflects both India’s emergence as an economic force to be reckoned with, and the rise of neighbouring China. India’s economy is only about 40% the size of China’s, but its fast growth and young population mean that its global role is increasing, not least because of its thriving information-technology and outsourcing industries.
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http://www.iht.com/articles/2005/07/20/news/singh.php
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News Analysis: India portrays itself as new type of superpower
By Anand Giridharadas International Herald Tribune
THURSDAY, JULY 21, 2005
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With sluggish GDP growth rates that have recently averaged some ~4% and a record of economic growth starting in the early 90's, I'm a little pessimistic of a lot of the India 'new world power' and 'India rising rhetoric.' Does anyone think that India is a big player or a major player, economically? I'm just not feelin' it.