India’s set to become too big to ignore (Moneyweb)

In the past week India marked the 75th anniversary of independence from Britain. Today it is the world’s second largest country by population, only behind China, and home to a staggering 1.38 billion people. India is set to overtake its northern neighbour within a few years, as China’s population growth has stalled and its demographic profile been distorted by the 1980 to 2016 one-child policy. India’s economic growth rate has also overtaken China’s, and it is set to be the fastest growing large economy in the medium term, with the exception of oil-rich Saudi Arabia. The IMF projects that India will grow by 7.4% this year and 6.1% in 2023, while the comparable numbers for China are 3.3% and 4.6%. Its young population – with a median age of 28, ten years younger than China’s – means it can sustain high rates of growth under the right conditions, benefiting from a so-called demographic dividend. Click here to read full article