The ascendency of India as an economic world power

Birth rate is falling in most of the developed countries. Falling birth rate is already a major worry in Japan, Korea and Russia. Soon, it is going to make the Chinese decision makers worried too. Falling birth rate means that a country will have less young population and more old people. This means that the country would have less people in the work force. However, India does not have to worry about it in the next few years. In fact, for India, increase in the population is a major headache for the economy.

It seems that India’s population problem may become a blessing for the country soon. While most of the developed countries will struggle to get adequate number of people in their labor force, India would have plenty of them. However, there is a catch. Most people in India are uneducated and unskilled. They do not know anything except farming. So, if India really wants to take advantage from this matter, it has to focus on educating and training more people.

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Financial Express