India is a nuclear-weapon state , having conducted its first nuclear test in 1974 , followed by another five tests in 1998 . From the 1950s to the 1980s , India followed socialist-inspired policies . The economy was influenced by extensive regulation , protectionism and public ownership , leading to pervasive corruption and slow economic growth . Beginning in 1991 , neoliberal economic reforms have transformed India into the third largest and one of the fastest-growing economies in the world , though corruption remains a pervasive problem . Today , India is a major world power with a prominent voice in global affairs and is seeking a permanent seat in the United Nations Security Council . Many economists , military analysts and think tanks expect India to become a superpower in the near future
another five tests
Pokhran-II
History of the Republic of India