India will officially surpass China as the world’s most populous nation on 1 July, with a population of 1.428 billion compared with China’s 1.425 billion, a United Nations Population Fund (UNFPA) report released on Wednesday said. But assuming constant population growth in the year to 1 July, India’s population would have crossed China’s around mid-April. That’s because India’s population grew 0.7% in 2022, while China’s peaked—and shrank-- that year. India’s population won’t peak until 2065, according to the UN projections, which exclude China’s special administrative regions of Macau and Hong Kong.
India’s emergence as the world’s most populous nation gives it a demographic advantage that could drive economic growth for years to come. With over 254 million youth and a median age of 28.4, India boasts a large pool of workers, consumers, and innovators that can contribute significantly to economic expansion, experts said. However, this advantage requires the creation of jobs, which remains the country’s most pressing challenge.
“The country will not just enjoy an abundant supply of labour from this working-age cohort, but the rising domestic consumption should help the nation tide over any external shocks, a fact well demonstrated during the covid-19 pandemic," said Andrea Wojnar, representative of the United Nations Population Fund India. “As the country with the largest youth cohort, its 254 million youth (15-24 years) can be a source of innovation, new thinking and lasting solutions."
Denne historien er fra April 20, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra April 20, 2023-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Quick Edit: The market's green role
The world needs to bend its rising curve of carbon emissions, a goal that's proving elusive. Adding to the challenge, US climate policy is likely to flip back into neglect mode next year.
Growth shouldn't suffer for want of a market fix
Packaged food companies should drive a food-processing revolution and run a campaign for substitution of fresh-veggie demand. It'll crush price volatility and open up space for rate cuts
We should reform import tariffs to boost Make in India!
Tariff reforms to resolve duty inversions can arrest the 'cost competitiveness leak' of Indian manufacturing
Trying to quantify everything may worsen human decisions
'Quantification fixation' is real—and we should learn to resist it
Hope has sprung anew amid the thick haze hovering over COP-29
The climate summit has seen rules being ratified for a carbon market, progress on finance and high corporate participation
Trump's return is set to send the world scouting for fresh options
His confrontational stand on issues will ruffle feathers and make nations review their alignments
Why national pride has not helped clean up Delhi's air
A sense of shame was expected to get it done. That hasn't worked. Do we lack the will and talent?
SEBI CAN DO MORE TO DISSUADE RETAIL F&O SPECULATION
A recent Securities and Exchange Board of India (Sebi) report highlighted the significant losses individual traders have incurred in the equity futures and options (F&O) segment between FY22 and FY24.
Is filing ITR in old regime still valid?
I am with the Indian Army. Until last year, we received Form 16 under the old tax regime, including allowances such as HRA, travel and uniform.
Avoid common mistakes in NRO, NRE accounts: A guide for NRIs
Tips on using NRE and NRO accounts to effectively manage funds, repatriate money and remain tax-compliant