Page 62 - TRI Annual Report
P. 62
Transform Rural India
Annual Report 2022-23
Chapter 4 This year India has become prosperity. To harness these penetration and accessible
opportunities, a whole-of-society
social media platforms have
world’s most populous country,
Trends Impacting Rural surpassing China. There is a approach is necessary, where contributed significantly to this.
the Samaaj, Sarkaar, and Bazaar
significant opportunity for India
Aware rural youth often
to become global growth
accelerated development
engine by 2047. With over 50% converge and synergise for migrate in search of better
education or stable jobs. To
of its population below the age outcomes. meet their needs, a robust
of 25, and almost half of the entrepreneurial ecosystem is
population with access to cell There are 5 mega trends that required to support young
phones and the internet, there hold great potential for aspirations.
is an unparalleled opportunity transforming rural India.
for widespread prosperity. On the other side we are having
Demographic Shifts one of the largest ageing
Megatrends India will have over 1 billion population, over 10% of the
population is above 60 years.
working-age individuals in a
Shaping decade, approximately 67% this As life expectancy increases,
the consumption needs of the
Economic will come from rural youth, with ageing population will also
48% female. Large proportion
grow, providing an emerging
Opportunities of this young population will be business opportunity. The set
educated and unemployed
in Rural India posing threat to social and of products and services that
the ageing population will
political stability. Improvements
in skilling, employment, and consume will pave the way for
The National Commission on education for rural youth will a “silver economy”. This will
Population (NCP) estimates that play a crucial role in driving create opportunities for both
even by 2050, 50% of India's Sustainable Development older and younger generations
population will continue to Goals (SDG), particularly in the in healthcare, housing, Internet
remain rural, indicating the fulfilment of SDG 1 (Poverty), of Things, e-commerce,
importance of rural areas in the SDG 5 (Gender Equality), SDG 8 transport, and other sectors.
country's aspirations. (Decent Work and Economic
Growth), and SDG 9 (Industry,
Rural India contributes to 50% Innovation and Infrastructure). Flexible career models with
of the national income and is The future of work is changing lifelong re-skilling will be
responsible for 70% of the rapidly, with industries necessary to adapt to
country's labour supply. requiring a skilled workforce changing market needs and
According to Nielsen, the FMCG over an educated one. This a robust social protection
market is expected to reach means that avenues for skilling, system. Social
100 billion USD by 2025. Major re-skilling, and upskilling will entrepreneurship will play a
disruptors are already bringing become increasingly important key role in achieving the
about a paradigm shift in rural to bring demographic dividend. silver economy, and public
India through technological and It is essential not only to create policy needs to build
digital interventions, changing employment opportunities but enabling frameworks to
consumption patterns, and also to train young people as help these efforts flourish.
blurring between rural and per industry needs so that they
urban areas. These changes can access dignified
will expand opportunities for employment. Meanwhile, the
aspirations of rural youth are
not much different from their
urban peers, despite cultural
Scan to watch
diversity. Mobile and internet
62 63
