{"id":126699,"date":"2021-08-17T19:18:26","date_gmt":"2021-08-17T13:48:26","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=126699"},"modified":"2021-08-17T19:19:08","modified_gmt":"2021-08-17T13:49:08","slug":"the-big-opportunity","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-big-opportunity\/","title":{"rendered":"The big opportunity"},"content":{"rendered":"

Source<\/strong>: The Hindu<\/a><\/p>\n

Relevance<\/strong>: This article explains the advantages of the rising young population.<\/p>\n

Synopsis<\/strong>:<\/h5>\n

A rising youth population in India can provide many benefits to India.<\/p>\n

Introduction:<\/strong><\/h5>\n

According to various international studies, the median age in India would be 28 years by 2022-23<\/strong>, in contrast to 37 in China and 45 in Western Europe. This is an enormous growth opportunity<\/strong> as India will have the highest number of people in the workforce.<\/p>\n

Challenges due to Covid-19:<\/strong><\/p>\n

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  1. As per an Organisation for Economic Co-operation and Development (OECD) study, the equivalent of five years or more of per capita income is likely to be lost<\/strong> by the end of 2021 due to Covid-19<\/strong>.<\/li>\n
  2. The World Bank mentioned that the world would witness deep global recessions<\/strong> fuelled by lowered investments, displacement of human capital, and disintegration of global trade and supply chains.<\/li>\n
  3. The effects of increased use of plastics and the generation of bio-medical wastes during the pandemic will cost, fisheries, tourism, and maritime transport industries,<\/strong> an additional $40 billion, according to a UN Environment Program report.<\/li>\n<\/ol>\n\n\n\n
    Read more<\/strong>: IPCC\u2019s Sixth Assessment Report: Findings and Suggestions \u2013 Explained, pointwise<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
    Advantages of rising young population:<\/strong><\/h5>\n
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    1. India\u2019s non-working population would be outnumbered<\/strong> by the working population, leading to a favourable demographic dividend<\/strong>. This will accelerate urbanisation and the growth of industries.<\/li>\n
    2. The purchasing power<\/strong> of the populace will increase.<\/strong> It will open up a bigger domestic market<\/strong>, thus attracting more investment<\/strong> and increasing opportunities.<\/li>\n
    3. The younger population will be more climate-conscious<\/strong>. This can simply be explained by younger generations seeing the real-time impact of climate change<\/strong>. Further, they will be more inclined to act towards a greener tomorrow.\n