Political Economy of India

• Politics of India takes place in a framework of a federal parliamentary representative democratic republic, whereby the Prime Minister of India is the head of government.
• According to its constitution, India is a "sovereign socialist secular democratic republic;" the largest state with a democratically-elected government.
• For most of its democratic history, the federal Government of India has been led by the Indian National Congress (INC)
• India is the world's largest democracy, a nuclear power, with the 3rd largest military services in the world and a population exceeding 1 billion.
• It is one of the few nations that have been considered by media as possible future superpower. It currently meets many of the characteristics of a superpower to the extent that it is labeled an emerging superpower and great power.
• India has conducted a major diplomatic campaign to obtain a permanent seat on the United Nations Security Council with veto powers. In recent years India and the United States have increased their influence. Some believe that the United States would prefer India over China as a new global power.