The demographic dividend, which has begun in India and is
expected to last another few decades, is a great window of opportunity.
The demographic dividend is basically' a swelling in the working age
population, which conversely means that the relative ratio of very young
and very old will, for a while, be on the decline, From -the. experience
of Ireland and China, we know that this can be a source of energy and an
engine of economic growth. The demographic dividend tends to raise a
nation's savings rate since in any nation, it is the working age
population that is the main saver, and since the savings rate is an
important driver of growth, this should help elevate our growth rate,
However, the benefits of demographic dividend depend on the quality of
the working age population. And this implies bringing back the
importance of education, acquisition of skills and human capital.