Not long ago, India wasn’t projected to surpass China as the world’s most populous country until later this decade. But the timing has been sped up by a drop in China’s fertility rate, with families having fewer children.
by mid-2023 as the world’s most populous nation, United Nations data said Wednesday, raising questions about whether a booming, young Indian population will fuel economic growth for years to come.
Tech giant Apple, among other companies, hopes to turn India into a potential manufacturing hub as it moves some production out of China, where wages are rising as the working-age population shrinks. Not long ago, India wasn’t expected to become the most populous until later this decade. But the timing has been sped up by a drop in China’s fertility rate, with families having fewer children.
In a survey of 1,007 Indians conducted by the U.N. in conjuction with the report, 63% of respondents said economic issues were their top concern when thinking about population change, followed by worries about the environment, health and human rights. “So far, we have not been able to tap into our demographic dividend adequately. While the working age population has grown quite substantially, employment has not grown,” said Mahesh Vyas, director of the Center for Monitoring the Indian Economy. He added that the country has struggled to create additional employment in the last six years, with the number of jobs stagnant at 405 million
Poonam Muttreja, head of the Population Foundation of India, agreed, saying the country must plan better for its young people.
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