India is poised to become the world's most populous country in mid-April 2023, with a projected population of 1.41 billion in 2022. With 27.3% of its population aged between 15 and 29 years old, India is one of the youngest countries in the world. However, India's declining female labour force participation rate could challenge its economic development.
Population Structure
A large youth population, a growing middle-aged population, and a small elderly population characterize India's population. According to the United Nations, the youth population (15–24 years old) in India is estimated to be 356 million in 2021, the largest in the world. This youthful demographic structure could provide a demographic dividend for India if the country can effectively harness their potential through education, skills training, and employment opportunities.
Economic Implications of a Growing Youth Population
A growing youth population could be a source of economic growth and development for India if it can effectively harness its potential through education, skills training, and employment opportunities. However, a rapidly growing youth population poses challenges for India, mainly if it needs to provide its young people with adequate education, employment, and social services.
In India, the unemployment rate among young people is higher than the national average, and there are concerns about the quality and relevance of education and skills training programs. Furthermore, there are persistent gender disparities in education and employment opportunities, with the female labour force participation rate declining in recent years.
Demographic Dividend and Population Policy
A demographic dividend refers to the economic benefits of changes in a country's age structure, particularly a shift towards a larger working-age population and a declining dependency ratio. India can reap a demographic dividend if it can effectively harness the potential of its youthful population and address challenges such as education, skills training, and employment opportunities.
The government of India has implemented several population policies aimed at reducing population growth and improving the health and well-being of its citizens. These policies include promoting family planning, reproductive health services, and programs to improve maternal and child health. However, the effectiveness of these policies in reducing population growth and improving health and well-being remains a challenge, particularly in rural and low-income populations.
Conclusion
As India becomes the world's most populous country, it is essential to consider the implications of its demographic structure and population policies for its economic development and well-being. While a large youth population could provide a demographic dividend for India, the country must also address challenges such as education, skills training, and employment opportunities to harness their potential fully. Addressing these challenges will be critical for India to realize its potential as a significant player in the global economy.
Citations
United Nations. (2021). World Population Prospects 2019: Highlights. Retrieved from https://population.un.org/wpp/Publications/Files/WPP2019_Highlights.pdf
Government of India. (2021). Ministry of Health and Family Welfare. Retrieved from https://www.mohfw.gov.in/
World Bank. (2021). India — Youth Unemployment Rate. Retrieved from https://data.worldbank.org/indicator/SL.UEM.1524.ZS?locations=IN
International Labour Organization. (2021). Women and Men in the Informal Economy: A Statistical Picture. Retrieved from https://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm