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India has a population of 1.3 billion and is the second largest country in the world, but its average age is 29 years old and is one of the youngest countries in the world.Jaipur Stock
As a large number of young people enter the labor market, they may create "demographic dividends".
The UN Population Fund defines the economic growth brought about by the demographic dividend to the changes in the population age structure, mainly when the labor age population is greater than the number of supporters.
India has one -fifth of the world's population, and this population advantage may play a key role in achieving the country's grand goal of becoming a $ 5 trillion economy.
Five reasons for the young people in India to become precious assets of economic growth
India's unique population advantage provides a lot of opportunities in today's vibrant world.Kolkata Wealth Management
With India's experience changes and changing social dynamics and technological progress, the young population will make significant contributions to the country's economic potential.
Digital Aboriginal and New Age Skill Library
Over the past ten years, the steady growth of the middle class in India has led to an increase in literacy, which is due to the desire for the financial security and quality of life in the next generation.
Even today, India still provides the largest number of qualified engineers and technicians for global labor.It is at the forefront of new technologies such as data science, machine learning and artificial intelligence.
In addition, the overall literacy rate of young Indian young people has increased, and about 90%of people can read and write.
Coupled with the prevalence of social media and the popularity of the Internet, this has created a number of people who are proficient in numbers.Indore Stock
With the help of the Internet and affordable smartphones, these young people can access online resources that encourage learning and acquiring skills.
In addition, some public and private measures aims to teach skills to the country.
An example is the government's skill India mission. The purpose is to provide sufficient skills for young people, enabling them to work across related departments and improve productivity.
The continuous expansion of the country's Internet coverage provides many opportunities for providing education, learning and skills development online.
In order to meet the level of people's expectations, this has created the best environment for emerging industries such as electronic learning and education technology.
Opportunities for employment and entrepreneurship are constantly increasing
Subversion technology, manufacturing automation, and Internet -based services and sales have affected the entrepreneurial culture and created more opportunities for young and qualified Indians.
The huge population of India is also the market for these young entrepreneurs. They are creating government measures such as STARTUP India and Pradhan Mantri MUDRA YOJANA (PMMY) and other government measures to further promote entrepreneurship and increase employment opportunities.
The huge emerging consumer class
The demographic dividend obtains the greatest benefit through rising consumer classes.
Young high -income people without family members often have more disposable income, which creates a new buyer category.The company is using pricing models for this generation of consumers to create products and services.
The emergence of new banks, online wallets, and interest -free or low -interest before paying credit facilities have further satisfied the wishes of young people who are proficient in digital technology.
With the increase of consumption power, the Indian consumer market will expand the scale to improve economic activities.Jaipur Wealth Management
Attract investment opportunities
About 62.5% of India's labor age population is between 15 and 59 years old, which ensures that India will have a population advantage by 2055.
This is an attractive proposition for local investment and foreign direct investment.
According to CII and EY data, by 2025, India has the potential to attract US $ 12-160 billion in foreign direct investment (FDI) each year.
Investors have regarded India as their skilled and young labor population.Indian manufacturing plans and other measures encourage investment in India's manufacturing, because labor is a key differentiation factor in India.
Some global brands have seen the advantages of labor resources and key markets in the same country, and have set up factories in India.As a result, electric vehicle pioneer manufacturer Tesla is likely to set up an electric vehicle manufacturing plant in Karnatak.
Although India has the advantages of a large number of educated youths, due to the low birth rate and the aging of the labor population, most countries lack the labor age population.
In this case, India can provide a large number of labor -intensive industries such as IT, medical, pharmaceuticals and other countries.
Continuously enhanced tolerance and cultural diversity
In recent years, people have made rapid progress in diversity and inclusiveness, and people have also understood the benefits of inclusive labor for enterprises and economy.
The migration of a large number of youth population towards employment cities will increase the country's cultural diversity.In view of the rapid urbanization and employment opportunities, young people from rural areas often pour into urban groups.
These diversified population will bring different language skills, sharing language, new thinking methods, innovative ideas and creative solutions, thereby creating a more productive labor force.
India's population bonus opportunities are the longest in the world, from 2005 to 2055 for 5 years.Due to changes in models and population structure, India is expected to become one of the largest consumer economies in the world.
The surge in the young labor population has brought a variety of unique and interesting possibilities to the future of India, including economic growth, social liquidity, and even more inclusive and diversified cultural structures.
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