Untapped Potential or Ticking Time Bomb? A Nation's Fate Hinges on Educating its Youth

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Untapped Potential or Ticking Time Bomb? A Nation's Fate Hinges on Educating its Youth

A Ticking Time Bomb or Untapped Potential?

India boasts a massive and youthful population, a resource often touted as its most valuable asset. However, Akshat Shrivastava, founder of Wisdom Hatch, warns that failing to educate and properly channel this demographic could spell disaster for the nation's economic aspirations.

every country has something valuable. We have a huge young population. If you keep them ill-educated and turn them into reel-making freeloaders, of course, we will never become rich."

His words highlight India's critical juncture in its economic journey. Comparisons with China paint a sobering picture. In 1980, India's per capita GDP was nearly double China's. Today, the tables have turned, with China's per capita GDP standing at $25,015, a staggering 2.5 times higher than India's $10,123. Similarly, China's exports dwarf India's, with a value of $3.5 trillion compared to India's $0.78 trillion.

While India has made progress, particularly in the last decade, it lags significantly in leveraging its human capital. Shrivastava's concerns echo broader fears about the misuse of resources. "Consumption and economic growth hinge on how we educate and mobilize this generation. Right now, we're not doing enough," he warns.

His concerns resonate with those of Raghuram Rajan, former RBI governor and professor at the University of Chicago. Rajan criticizes India's economic policy priorities, arguing that the focus on high-profile projects like semiconductor manufacturing overshadows critical investments in education. He points out that India spends more on subsidies for chip manufacturing than its annual budget for higher education, a strategy he deems detrimental to India's aspirations of becoming a developed nation.

will India capitalize on its demographic dividend or let it become a ticking time bomb? The answer lies in prioritizing education, mobilizing its youth, and investing in their potential. Only then can India truly unlock its economic potential and achieve its ambitions.