Greater public investment in youth education and professional skills is the way forward
Published Date – Sat 4/22/23 12:15pm
Greater public investment in youth education and professional skills is the way forward
Hyderabad: India becoming the most populous country in the world is neither a matter of national pride nor should it cause any anxiety or panic. A dispassionate look at demographic trends will lead to the realization that greater public investment in youth education and professional skills is the way to realize the full potential of the demographic dividend. The United Nations Population Fund (UNPF) has predicted that India will overtake China within the next two months, with an estimated population of 1,428.6 million compared with China’s 1,425.7 million. It is no surprise that India surpasses China in terms of population, as this has long been expected. But what has accelerated this process is the fact that China’s economic growth has slowed sharply. Demographers use a variety of indicators—fertility and replacement rates, age and regional data—to gain a more layered understanding of population dynamics than when the country launched its first family planning program. One positive aspect of India’s population growth is the inherent opportunity for a demographic dividend. More than two-thirds of India’s population is between the ages of 15 and 64 and is considered a country’s working population, according to the latest UNFPA report. Education, skills development and creating opportunities, especially for disadvantaged youth and women, will be key for countries to leverage the demographic dividend to their advantage over the next two decades.
A major area of concern, however, is the declining level of women’s participation in the workforce. According to World Bank data, India’s female labor force participation rate has plummeted from 32% in 2005 to 19% in 2021. This is a key reason why the country is underutilizing its large working-age population. India’s fertility rate has been steadily declining. The National Family Health Survey5 (2019-21) found that India’s total fertility rate (TFR) reached 2.0 for the first time, below the replacement level of 2.1. At this rate, the country’s population could begin to decline towards 2050. According to the 2011 census, the youth population in the 10-24 age group was 365 million and is expected to reach 379 million by 2023. For a country with the largest youth population, effective policies that favor a large workforce are key. The label of being the most populous country may not inspire pride, but it would be unwise to simply view it as a burden. India’s growth story is a shared journey of one billion and a half Indians. With basic education and Internet access, rural youth are now more ambitious than ever. The cherished goal is to make it more inclusive and rewarding.
