India's population demography presents a unique advantage for its economic future. With a median age of 28.4 years, India has a young population that is expected to be a driving force for economic growth, commonly referred to as the "demographic dividend."
India's youth population, coupled with a burgeoning middle class, presents a massive consumer market. According to estimates by the Boston Consulting Group, India's middle class is projected to grow from 50 million households in 2015 to a staggering 583 million households by 2025. This presents a significant market for goods and services, driving domestic consumption and fueling economic growth.
Additionally, India's youth population also provides a robust workforce that can contribute to the country's economic development. The World Bank predicts that by 2030, India will have the world's largest working-age population, with over 900 million people of working age. This can boost productivity, innovation, and overall competitiveness, further strengthening India's economic prospects.
India's population demography presents a unique advantage for its economic future. With a median age of 28.4 years, India has a young population that is expected to be a driving force for economic growth, commonly referred to as the "demographic dividend."
India's youth population, coupled with a burgeoning middle class, presents a massive consumer market. According to estimates by the Boston Consulting Group, India's middle class is projected to grow from 50 million households in 2015 to a staggering 583 million households by 2025. This presents a significant market for goods and services, driving domestic consumption and fueling economic growth.
Additionally, India's youth population also provides a robust workforce that can contribute to the country's economic development. The World Bank predicts that by 2030, India will have the world's largest working-age population, with over 900 million people of working age. This can boost productivity, innovation, and overall competitiveness, further strengthening India's economic prospects.
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