Raghuram Rajan urges India to harness demographic dividends and prioritize job creation

Former RBI governor Raghuram Rajan has underscored India’s failure to fully leverage its demographic dividends, emphasizing the critical need to enhance human capital and skill sets.

- 

Speaking at a conference titled Charting India’s Path to an Advanced Economy by 2047” held at George Washington University, Rajan highlighted India’s current growth rate of approximately 6 percent, which he deemed insufficient given the country’s demographic advantage.

Despite being in the midst of a demographic dividend, Rajan noted that India’s growth rate falls short of the levels achieved by countries like China and Korea during their respective demographic dividend periods. He cautioned against complacency, suggesting that the 6 percent growth rate, when stripped of GDP number inflation, reveals aless impressive performance.