NEW DELHI: For long Indian population was considered a curse to the nation. But no longer. Experts say that the Indian population which is supposed to overtake China very soon, is asset rather than a liability.
Government is stepping towards thinking India's population to be used to illustrate the country's huge potential, both economic and political, experts say.
With just 2.4 percent of the global landmass housing 16 percent of the global population, successive Indian governments have been faced with the problem of how to reduce ever-increasing pressure on ever-dwindling resources.
Now its massive workforce is being seen as the country's greatest resource.
"This change has been aided by the revolution in Indias information technology sector," says demographer A.R. Nanda, who helped formulate the National Population Policy five years ago.
"The corporates and some economists have been highlighting how India's working population can make up for deficient or sometimes expensive labor elsewhere for the past five to seven years. This has fuelled the rethink," he says.
India has in the past decade emerged as a major back office to the world with global firms outsourcing work ranging from credit card processing to air ticketing to take advantage of the country's less expensive, educated, English-speaking workforce.
India produces 2.5 million IT, engineering and life sciences graduates a year, besides about 650,000 post graduates in science and IT related subjects.
The IT sector alone employs about 850,000 graduates and professionals while the pharmaceutical and biotechnology sectors are snapping up others.
The government says 402 million Indians are aged between 15 and 59 - the working age - and that this number will grow to 820 million by 2020.
N.R. Narayana Murthy, head of premier software export company Infosys, said that by 2020 the United States would be short of 17 million people of working age, China of 10 million, Japan of nine...
Please join StudyMode to read the full document