Vikrant Shekhawat : Sep 16, 2024, 06:00 AM
Indian Economy: India is once again moving towards becoming a 'golden bird', and an important reason behind this is the country's growing working population. According to a recent report, the number of working people in India is expected to increase by 17.9 crores by 2045. With this developing demographic trend, the dominance of the Indian economy will increase globally. Currently, India's working population is 96.1 crores, and the unemployment rate remains at a five-year low. Global investment firm Jefferies has said in this report that the number of working people in India is continuously increasing and it will play an important role in the country's economic growth.Increase in working population by 2030According to the report, the number of working people aged 25 to 64 years in India continues to increase, and around 2030, a slight slowdown in the pace of this growth can be seen. According to data released by the Ministry of Statistics in August, India's labor force participation rate (LFPR) has increased to 50.1 percent in April-June 2024, from 48.8 percent in April-June 2023. This increase shows that employment opportunities are improving.Increasing role of womenThe working population of women is also seeing a significant increase. The LFPR rate among women aged 15 years and above has reached 25.2 percent in the period April to June 2024, from 23.2 percent in the same period of 2023. According to data from the Reserve Bank of India (RBI), about 17 crore people have got employment in the country in the last ten years. A total of 64.33 crore people were working in 2023-24, while this number was 47.15 crore in 2014-15.India's path to becoming a shining starEconomists say that India is currently one of the fastest developing countries in the world. The country's young population and the increasing share of the working population make it an attractive market for global investment. India's large population makes it a huge market, due to which companies from all over the world are increasing investment. This will give India an important place in the global economy.India's growing working population, increasing participation of women, and rapidly developing economy are presenting it as a shining star. The country's demography and pace of development can make it a major global power in the future. In the coming years, the success story of the Indian economy will be heard all over the world and India will once again emerge as the 'Sone ki Chidiya'.