India's population has overtaken China – what does this mean for the world?

India is expected to surpass China as the world's most populous nation in 2023. Both countries have more than 1.4 billion people, but where India's population is relatively young, compared to the rest of the world, China's birth rate is in decline and its population is getting older.

What does this mean for India?

By 2047, 1 in 5 people working in the world will be from India, according to India's Century, a report charting a roadmap for India's future, by McKinsey & Company and the Federation of Indian Chambers of Commerce & Industry.

Alok Khirsagar, India's Century co-author, highlights the importance of leveraging on India's digital infrastructure to generate jobs for India's young population.

"It's very important that we're able to use technology to distribute manufacturing services into smaller towns and smaller cities, and not as dependent on the large cities to drive growth," he said to CNBC.

He predicts that agriculture, education, logistics, transport, food and small consumer goods are industries that India will provide services for on a global scale.

How will India's economy benefit?

Manufacturing remains a key industry for India, with companies looking to diversify production away from China due to worker disruptions in Chinese supply chains.

The supply chains of global brands such as Samsung, Apple, Oppo, Vivo, Xiaomi and Lenovo are also moving to India, Antara Ghosal Singh, an analyst from Indian think tank Observer Research Foundation told CNBC.

"Manufacturing, as a whole, is going to see a boost from the policies that have been taken by the government," she said.

According to the country's commerce and industry minister, Piyush Gopal, Apple hopes to manufacture 25% of all its iPhones in India, up from around 5% currently.

As of 2022, the country has inked 13 regional free trade agreements, which will ensure greater market access for its domestic goods while promoting exports.

Watch the video above to find out more about how India could use its booming population to drive growth.

#CNBC #India #China #Population
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[AverageGuy]

China is glad to hand over the most populous title to India. China is going through and transitioning to modern high tech society, hard to fill 1.4 billion population with jobs and keep them well fed is another issue. With modern society heading towards 4th industrialization and A.I implementation... less is more.

[pratik]

As an Indian, I am excited for India's future and working towards making it wonderful.

[bluesteel]

As an Indian I think not everything is that simple. Factoring into account AI, global economy, trends against globalisation. It is frankly hard to predict, anyone saying otherwise is making shots in the air. All we can do is keep our head down and continue to grind.

[vivekmohanta]

India's map is shown wrong. Parts of jammu kashmir are not shown. Also, Sri Lanka should be shown alongside India's map as per UN Ocean laws.

[KarthikSoun]

Falling population in China is NOT a bad thing. 1 generation has worked and built everything for the next. It doesn't matter if economy shrinks a bit it will only mean better standard of living in future.

[haykkarapetyan]

As an Armenian, it's inspiring to see the remarkable economic growth that India has achieved in recent years. With a population of over 1.4 billion people, India's economy has become one of the fastest-growing in the world. It's truly remarkable to see how India has leveraged its strengths in sectors like technology, agriculture, and manufacturing to drive growth and create new opportunities for its citizens. Congratulations to India on this impressive achievement!

[erikdi]

Large young population is meaningless when it comes to ChatGPT.

[vasukinagabhushan]

India should rise by its strength, not China's weakness.

[shankysays]

4:13 correction. It's already 750 billion dollars export

[Hemant]

Indian Map shown in thumbnail doesn't match according to Indian Standard.

[johnf]

The economic development model has silently shifted from "quantity" to "quality" starting 2020 as AI emerged to rewrite the concept of "Productivity" in human history. Unfortunately India has just caught the tail of "mass human manufacturing" that lifted China up during the past 2 decades, cheap labor no longer equals to large scale of job creation as many of these jobs will be replaced by robots in next decade, India's population could actually become a burden for its development going forward...

[stephenlau]

Holy crap! We finally got rid of the title of the world's most populous country, congratulations to India!

[Mega_DP]

As an American, please stop sending me emails saying my computer has a virus and I owe Geek Squad $472.

[shapethefuturetech]

It means if India can't leap forward fast enough, in 20-30 years later, India will face the biggest aging issue also.

[sujathaviswanathan]

I think i🇮🇳 will miss the bus again. Too many unskilled people, rickety infrastructure, religious and social tensions will never allow 🇮🇳 to grow to its true potential.

[kavishhurbungs]

As an Indian, I am proud to see my country flourishing.

[SomeOne-yvjf]

In the next 30 years the population of India will double (3 billion people). I can't wait to see that. India will celebrate 🎉🎉.

[ngtengpuay]

Productivity don't need an increase in population, most productivity will be replace by robots and high tech machinery, increase in population will be a threat to famines, India is situated geography in low water catchment area, an increase to 1.7 billion population, I will be a worried Prime Minister.

[BSnicks]

Most people see population increase = more profit. So, they love the idea of having an increased population. However, they don't see that far ahead. Increasing the population only helps the rich. The rest will just be slaves, especially with the caste system in India. There is not enough land, food and energy for all those people. CO2 in the atmosphere will increase, because we breathe out CO2. This is just 1 out of many problems that comes with increasing population.

[lordlee]

Large population is not a blessing, it’s a curse. Especially now we are entering the AI age, where jobs will be hard to come by. China’s birth rate is lower than that of almost all countries and China’s population is declining at the right time. I do wish the Indians have more prosperous lives. I hope their economy will grow at the expenses of all the colonial powers.