Demographic dividend or damp squib?

Abstract

India can address the needs of the greying economies of the West, provided its workforce develops the requisite skills The global economy is passing through a demographic crisis, with its growing ageing population. India, has an obvious advantage here, and could provide the world with skills and manpower.

India has the world’s youngest workforce with a median age way below that of China and the OECD countries. The rest of the world, especially western countries, are ageing rapidly because of low fertility rates and increased longevity. Consequently, according to the Union government , the global economy is expected to witness a skilled manpower shortage of around 56 million by 2020. Thus, the ‘demographic dividend’ in India needs to be exploited to meet the skilled manpower requirements in India and abroad. Read more at: https://www.thehindubusinessline.com/opinion/demographic-dividend-or-damp-squib/article7834126.ece