India, South Asia ‘squandering demographic dividend’, World Bank says
- The World Bank, in a report on Tuesday, said South Asian nations needed to address several policy weaknesses to accelerate job creation
- The region created an average of 10 million jobs a year from 2000-2023 when the working-age population was growing by an average of 19 million a year
“The danger is the demographic dividend is missed. It’s squandered,” said Franziska Ohnsorge, the World Bank’s chief economist for South Asia.
“If only they can be employed. It’s a fantastic opportunity to grow but until recently employment ratios have been falling.”
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During the period between 2000-2023, employment grew 1.7 per cent a year while the working-age population expanded 1.9 per cent a year, data included in the report showed.
In absolute terms, the region created an average of 10 million jobs a year when the working-age population was growing by an average of 19 million a year.
India’s central bank forecasts stronger growth of 7 per cent during this period.
