India Races To Get Rich Before It Gets Old As Population Set

India’s recent demographic milestone of surpassing China’s population and the need for India to focus on urbanization, infrastructure, up-skilling and broadening its labor force, and boosting manufacturing to become the world’s biggest growth driver. The article highlights the importance of India’s shift towards urbanization, and the challenges it faces in creating enough quality jobs and improving public services. It also draws a comparison between India and China’s paths towards economic growth and emphasizes the need for India to follow in the footsteps of China and South Korea in making its cities modern and efficient. The article ends with a positive outlook on India’s potential for growth and its ability to reshape the global economy. Yukon Huang, senior fellow at Carnegie Endowment for International Peace, said India will need to follow the path of China and South Korea in making its cities modern and efficient. Over the past four decades, a four-fold increase in urbanization neatly “correlated with the increase in productivity of labor in both countries,” he said.Yukon Huang’s statement highlights the importance of urbanization in driving economic growth in countries like India. He suggests that India can learn from the experiences of China and South Korea, who have successfully transformed their cities into modern and efficient hubs of economic activity. Huang notes that over the past four decades, the increase in urbanization in both countries has been strongly correlated with increased labor productivity, which has helped to drive their economic growth.Therefore, if India wants to fully capitalize on its demographic dividend and become the world’s biggest growth driver, it needs to prioritize urbanization as a key driver of economic development. This will require significant investments in infrastructure and public services, as well as policies that encourage private sector participation in the development of urban areas.