Along with its status as one of the world’s up-and-coming economies, India also faces a challenge in developing sufficient jobs for its expected population growth.
The Regional Human Development Report of the United Nations Development Program notes that China and India comprise 62 percent of the region’s workforce, with 1 billion and 0.86 billion workers’ respectively. “But China’s share of working-age people is now falling, while India’s continues to rise, expected to touch a maximum of about 1.1 billion in 2050.”
This will mean that over 280 million more people will enter the job market in India by 2050. But the market itself hasn’t exactly been able to cope. … Meanwhile, in 2015, the Modi government delivered the lowest jobs growth in six years: only 135,000 new ones in eight labour-intensive sectors between January and December 2015.
It’s problem that will take a bit of innovation, determination and perhaps luck to solve.