Page 51 - Nuvama | IC Report 2023
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INDIA: THE 5D ADVANTAGE
Young demography: Legs for growth
India is a young nation. Its median age is 28.4 as of 2022 (UN estimate), which means that half of
the country’s population was born after 1994. So, not only India’s working age population is huge,
its composition is skewed towards the youth—thereby providing long runway for growth in
working age population.
85-89
80-84
75-79 Exhibit 4:
India’s age
70-74 structure is
skewed towards
65-69 young
60-64
55-59
(Age group in years) 50-54
45-49
40-44
35-39
30-34
25-29
20-24
15-19
Nearly 25%
10-14
of Indian
5-9 population was
born after 2007,
0-4 whereas 44% was
0 20 40 60 80 100 120 140 born after 1998
(Population in millions)
Source: UN, Nuvama Research
In ensuing sections, we discuss the benefits and characteristics arising from a young and growing
workforce.
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