The Demographic Dividend and India’s Economic Future

In the Past few years the phenomenon called ‘Demographic Dividend’ has become a catchphrase and is being widely used by statesman and policy thinkers. Indian Economy which entered into the take-off stage in 1991 is ready to get metamorphosed into what is being described as the most spectacular economic transition of the twenty first century. The changing demographic structure of Indian population due to smaller families and declining fertility rates has generated a ‘bulge’ of a large workforce. This ‘Demographic Dividend’ if optimally channelized will place the country into the higher growth trajectory. With 356 million 10-24 year olds, India has the world’s largest youth population despite having a smaller population than China. By 2022, the average Indian’s age would be 29, compared to 37 for China and the US, and 45 for Western Europe. India has the potential not only to meet its own manpower needs but it can also cater to the manpower demand of other nations. Young people are the innovators, creators, builders and leaders of the future. But they can transform the future only if they have skills, health, decision-making, and real choices in life. The present book is a compendium of selected research papers on the theme of ‘Demographic Dividend’ and hopefully will generate an intellectual contemplation on the very idea whose time has come.