Global Soft Power Index 2024 - Current Affairs 2024

Recently, Brand Finance published the 5th edition of the annual Global Soft Power Index (GSPI).

India’s ranking on the Global Soft Power Index 2024 has fallen to 29th position from the 28th position it had secured in 2023.

The 5th annual global survey from Brand Finance ranks all 193 United Nations member states for the first time.

The 1st edition of the Index was released in 2020.
The United States and the United Kingdom are the most influential soft power nations in the world.
China is the fastest-growing nation brand this year, rising in the ranking from 5th to 3rd.

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Top five countries in the index:

Ranking in Index 2024	Counties	Overall Index Score 2024 (scores out of 100)	Overall Index Score 2023(scores out of 100)
1^st	USA	78.8	74.8
2^nd	UK	71.8	67.3
3^rd	China	71.2(fastest increase from previous year’s score)	65.0
4^th	Japan	70.6	65.2
5^th	Germany (1st in 2021 Index)	69.8	65.8

India’s Position

India struggles to fulfil its soft power potential, as it has relatively high Familiarity and Influence, especially in its home regions, but ranks lower for Reputation.
While India’s score improved marginally from last year’s Index, its ranking fell by one point.

India’s ranking in the Index

Familiarity: nation brands which people know and have mental availability of, and have greater Soft Power.
Influence: the degree to which a nation is seen to have influence in the respondent’s country and on the world stage.
Reputation: country deemed to have a strong and positive reputation globally

It is a nation’s ability to influence the preferences and behaviours of various actors in the international arena (states, corporations, communities, public etc.) through attraction or persuasion rather than coercion.
The concept of Soft Power was first introduced by Joseph Nye (American political scientist) in 1990.
Joseph Nye argued that there is an alternative method of foreign policy for states to win the support of others rather than the traditional Hard Power method, which involves using military and economic means as the primary method of achieving its goals.