India has youngest workforce among large economies; Demographics necessary for strong growth but insufficient condition
Dec 2nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Among the large economies in the world, India will continue to have the best demographic trend as measured in terms of age dependency (ratio of old and children: people under 15 or over 65 to working age population - people 15-64). However, while a positive demographic trend may be a necessary condition for strong growth, it is an insufficient one - - in recent times, the Irish have discovered that the sunny horizon painted by a number of economists who bought into the notion of the primacy of a "demographic dividend," was a prospectus for visionless politicians, provided by fools or individuals in search of a "big idea" to grab public attention.