That’s an incentive for large consumer goods makers, which have been looking to leverage India’s young demographic as the key to consumption. The Survey noted that India’s population aged 0-19 has already peaked due to sharp declines in total fertility rates (TFR) across the country. By 2041, this population age group is set to drop from as high as 41% in 2011 to 25%. “At the other end of the age scale, policy makers need to prepare for ageing," the Economic Survey said eroding India’ young demographic myth going forward. It will also push companies to address this consumer segment and develop more products and services aimed at the ageing population.

Source: Mint July 04, 2019 14:26 UTC