Here are 5 ways India’s growing population would actually contribute to the strength of the country
- As India surpasses China’s population, and becomes the world’s most populous nation with a population count of 1.43 Billion. This is most often seen as a negative fact, due to various unavoidable reasons like the economic and per capita burden of the country. But to be noted there are also positive outcomes of this overwhelming population. A Mumbai based Wealth management director, Ragavendra Nath has recently commented that “The country will enjoy an abundant supply of labor and, consequently, should invite even more investments from foreign firms looking to cash in on India’s growing manufacturing capabilities”
- The Gross Domestic Product growth of India is expected to surpass well-developed countries like Germany and become the largest economy by the year 2030, with an average 6.3 per cent annual growth.
- According to the demographic dividend of India, the youth population of the country will contribute abundantly to the economic growth of the country, in the years to come. This is seen as a major advantage of India, in the eyes of other countries, as the working population becomes older with the lowering population in developed countries
- The median age of the Indian population is 28.4. Whereas 38.3 in the US and 38.4 in China according to reports by Worlometer. The abundance of the youth population in the country will bring about massive changes in the working domains, as the younger generation tends to be more flexible to work hours and are capable of generating new gen ideas when compared to employees in their late 30s.
- Prime Ministers' scheme such as Make in India, has been significantly contributing to suffice the job needs of the growing youth population. At this pace, India will be the biggest economy if the resources of this humongous population are properly cultivated. It could turn out to become the other way round if the resources are not harnessed in the correct way.
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