India, which has reached the first rank in population, has to achieve economic growth at the rate of eight percent in 30 years

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Mumbai: India has become the largest nation in the world with a population of 1.42 billion, surpassing China in terms of population. With such a huge population, India's rapid economic development has also become essential.

According to a report, India will have to achieve economic growth at the rate of eight percent annually for the next three decades to provide employment to eligible youth.

To become a global reservoir of human resources, India will need to invest huge amounts of money in training its workforce. India's population is estimated to increase to 1.66 billion by 2050. While the population of China is expected to decrease to 1.31 billion.

With the increase in population, many challenges have also arisen for India, said an economist. There is a big challenge to provide employment especially to young men and women of working age.

He added that India will have to achieve economic growth at the rate of 8 to 9 percent for a long time, i.e. two and a half to three decades, to create employment.

India's average annual economic growth rate in the current decade has been seven percent. Out of the total population of India, 25.40 crore people are in the age group of 15 to 24 years. Thus India has the largest youth population in the world.

Current levels of savings and investments in India are too low to achieve an economic growth rate of eight percent. A report by India Ratings said earlier that if the economic growth rate is to achieve an annual growth of eight percent, the rate of savings and investments must be at least 35 percent.


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