Demographic dividend in India

Abstract

The potential of India’s huge demographic pool cannot be undermined. In the light of the above discussions, we have evaluated the population trends across the major Indian states to understand the distribution of the young talent pool in this report. An analysis of the population dynamics across major countries has enabled us to understand and estimate the global demand for our talent pool. Recognising the need to skill and develop our labour resources for improving their productivity and economic efficiency, GOI has launched a comprehensive Skill India programme. Through our field visits to different industrial training institutes & through a thorough analysis of the skill development models of Maharashtra and Uttar Pradesh, we have been able to identify the strengths and the improvement areas in the skill development programs. Corporates are major stakeholders in the growth of the nation. Their participation in the nation building process can be increased by allowing them to incorporate the skill development expenditure in their compulsory CSR spending target. Maintenance of a labour market information system and strategic international labour agreements with major nations of the world can help us in reaping our demographic dividend. Capturing the second phase of the dividend requires a well-developed, robust financial market with adequate depth and liquidity. This necessitates the development of a corporate bond market to mobilise the savings from the investors to the corporates.