India as most populous can be more boon than bane
China is projected to hand over the baton of the most populous country to India by mid2023. But for India, there are greater prospects for demographic advantage than serious concerns.
- The population can be considered a valuable resource for a country as long as its carrying capacity remains intact.
- Carrying capacity is not solely determined by the per capita availability of natural resources, but is a dynamic concept that evolves with changing technology, production efficiency, and consumption systems.
- When analyzing India's population composition, there are more opportunities for a demographic dividend rather than potential disasters. India still has a favorable demographic window of 35 years to capitalize on economic benefits.
Mechanisms that translate a demographic bonus to economic dividend
- The realization of a demographic dividend in India depends on the country's ability to create an adequate number of high-quality jobs for its growing working-age population.
- Education, skills development, and the promotion of a healthy lifespan through disease prevention and disability mitigation are essential pathways for converting demographic opportunities into economic gains.
- Effective governance plays a crucial role in harnessing the demographic dividend by creating a conducive environment that enhances the efficiency and productivity of the population.