New Delhi— NITI Aayog CEO B.V.R. Subrahmanyam sees India emerging as a global hub for education and a reliable supplier of skilled, working-age talent as advanced economies face shrinking populations.
Speaking at an event in New Delhi, Subrahmanyam emphasized the unique demographic moment the world is facing. “For the first time, we are witnessing population decline in several advanced countries,” he said, citing examples like Japan and Germany, which are hiring thousands of Indian healthcare workers due to labor shortages and weakening family systems.
He underscored that India’s greatest asset isn’t just its scale or economy—but its democratic values. “India can become the world’s education hub, and its democracy gives it an edge,” he noted, adding that Indian law and accounting firms should aim to compete globally.
“India will be the most stable supplier of working-age people to the world—this will be our biggest strength,” he stated.
Subrahmanyam also projected that India, currently the world’s fifth-largest economy, will surpass Germany and Japan within the next three years to become the third-largest. By 2047, he expects India to reach $30 trillion in GDP, making it the world’s second-largest economy.
With a median age of 28.4, India’s demographic advantage is clear. Roughly 67% of the population falls within the working-age bracket (15-64), while only 7% is over 65—compared to 17% in the U.S. and more than 21% in Europe.
An EY report supports this outlook, estimating that India will have 1.04 billion working-age individuals by 2030. It also predicts India’s dependency ratio will drop to a historic low of 31.2% by then.
Significantly, India is expected to contribute 24.3% of the incremental global workforce over the next decade—positioning it as a key player in addressing global labor shortages, especially as developed nations face an aging population and declining birth rates. (Source: IANS)
