India on Track to Host the World’s Largest Workforce by 2047, NSA Ajit Doval Predicts

In a powerful address at the 62nd convocation of IIT Madras, National Security Adviser Ajit Doval painted a compelling vision for India’s economic future. He forecasted that by the year 2047—marking 100 years of independence—India will emerge as the nation with the largest workforce in the world and one of the globe’s leading economic powers.

While addressing the 62nd convention of IIT Madras in Chennai, the NSA said that the per capita income of Indians will also see a massive boost | Business Today

A Vision of Economic Growth and Workforce Expansion

Ajit Doval projected that India’s Gross Domestic Product (GDP) could grow eightfold over the next two decades, potentially reaching a staggering USD 32 trillion by 2047. Such growth would see per capita income rising dramatically, from around USD 2,500 today to nearly USD 22,000. Central to this vision is a workforce expanding to approximately 1.1 billion people, characterized by highly skilled, diverse talent integrated across a variety of sectors.

This demographic surge positions India to harness its youth advantage at a time when other major economies are grappling with aging populations. In stark contrast, China’s working-age population is expected to shrink significantly, falling to only about 23% of its current size by 2047. This shift underscores the strategic opportunity India holds on the world stage.

The Driving Forces Behind India’s Growth

Doval emphasized the role of rapid technological advancement as a cornerstone of this transformation. India’s indigenous development of 5G technology in roughly two and a half years stands as a testament to the nation’s growing prowess. This achievement is particularly notable when compared to China’s prolonged and heavily capital-intensive efforts to build its 5G infrastructure over 12 years with an investment exceeding USD 300 billion.

Alongside telecommunications, artificial intelligence and other advanced technologies are expected to be key enablers of India’s economic ambitions. The National Security Adviser also highlighted the importance of equipping the workforce with future-ready skills. Government initiatives like the National Skill Development Policy and programs such as the Pradhan Mantri Kaushal Vikas Yojana aim to bolster the nation’s human capital, ensuring the growing population is well-prepared to meet the demands of a rapidly evolving economy.

Opportunities and Challenges on the Horizon

While the prospects are promising, experts caution that realizing this vision requires sustained high economic growth rates, likely averaging close to 8% annually over the next two decades. Such performance is essential for India to reach high-income status and maintain global competitiveness.

Furthermore, the challenge of creating adequate employment opportunities looms large. India must generate millions of jobs every year to absorb its expanding workforce and ensure that labor force participation rises from current levels of around 56% to above 65%. Productivity gains will also be crucial, as India’s workforce currently logs some of the longest working hours globally but still experiences relatively low output per hour compared to developed nations.

Urbanization adds another layer of complexity. As more Indians migrate to cities in search of better opportunities, infrastructure development and sustainable urban planning become urgent priorities to accommodate this demographic transition.

India’s Geopolitical Position and Global Integration

The demographic and economic shifts unfolding in India have profound geopolitical implications. With China’s workforce shrinking, India is poised to become a central player in global supply chains and international markets. Efforts to attract foreign direct investment are intensifying, with multinational corporations looking at India as a viable alternative to China under “China-plus-One” strategies.

India’s growing integration with global technology and trade networks will further accelerate its economic momentum, but it will also require the country to remain vigilant about national security in an increasingly interconnected world. Doval called on the younger generation, especially the IIT graduates, to rise as leaders who can safeguard India’s interests while steering the nation toward a prosperous future.

Conclusion

India’s journey toward becoming the world’s largest workforce and an economic powerhouse by 2047 is both ambitious and achievable. The convergence of demographic advantages, technological innovation, and policy reforms sets the stage for a transformative era. However, sustained growth, enhanced skill development, productivity improvements, and strategic global engagement will be critical to turning this vision into reality.

As India stands on the cusp of this historic milestone, the responsibility lies with today’s youth to carry forward the torch of progress, innovation, and security, shaping a vibrant future for the nation in the century ahead.

(Sources: NDTV, Business Today, Economic Times)