India’s dual advantage of economic growth and youth dividend – India’s economy is growing steadily and slated to be the world’s third largest by 2030. We also have the world’s largest working age population, and an average age of 29 – this youth bulge will continue until 2050. This is an unprecedented, enviable, and challenging milestone full of abundant opportunity – if harnessed well, the potential of our youth can shape the future of India and the world.
The past two decades have seen economic growth outpacing employment growth – due to shifts in population, automation and digitisation, service industry growth, and productivity gains, capital markets, and accounting practices rewarding capital investment rather than labour expenses.
There is an urgent need to focus on absorbing rural youth into the labour force – Two-thirds of India’s ~378 million youth live in rural India, which constitutes only 46 per cent of the national income. Rural youth have high aspirations and potential but face systemic barriers that start from childhood and continue through their life.
