With a staggering population of over 1.4 billion, India emerges as a veritable powerhouse, representing approximately 18 per cent of the world's total population.
Positioned favourably within the Demographic Transition Model, India finds itself in a highly advantageous stage, with a significant portion of its populace comprising the youth demographic.
Remarkably, over 1 billion individuals in India belong to the working-age population, showcasing the country's immense potential and human capital. Projections indicate that by 2030, India will achieve its lowest dependency ratio in history, standing at a mere 31.2 per cent.
Moreover, a significant turning point is anticipated by 2056, as the young dependency ratio, encompassing individuals below the age of 15, will surpass the old dependency ratio, comprising those aged 65 and above.
This pivotal development heralds the dawn of a prosperous era, characterized by a burgeoning young populace ready to contribute to society.
This flourishing young population is not only a valuable asset for India but also holds immense significance for the global community.
Through strategic investments in education, skill development, and healthcare, this burgeoning human resource will evolve into a vital human capital, not only benefiting India but also catering to the diverse needs of the world.
Projections reveal that India is set to supply approximately 24.3 per cent of the global workforce over the next decade, solidifying its position as the foremost provider of human resources worldwide.
With nearly 26 per cent of the population below the age of 14 years and nearly 67 per cent in the age group 15 to 64 years, India has a median age of 28.4 years which is relatively very young compared to most other major economies.
For instance, the median age in Japan is 48.6 years, in the USA is 38.5 years, and in China, it is 38.4 years.
Diese Geschichte stammt aus der June 04, 2023-Ausgabe von The Business Guardian.
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Diese Geschichte stammt aus der June 04, 2023-Ausgabe von The Business Guardian.
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