Younger people to drive faster growth: FM Nirmala Sitharaman | The Financial Express

Younger people to drive faster growth: FM Nirmala Sitharaman

Speaking at a convocation event at IIITDM, Kancheepuram, she said the government has taken several steps toward achieving the status of a technologically savvy advanced country by 2047.

Younger people to drive faster growth: FM Nirmala Sitharaman
FM Nirmala Sitharaman (IE)

Union finance minister Nirmala Sitharaman on Saturday said the country’s working-age population will overtake China in 2028, reaching 65% by 2036, where it is expected to stay until 2047 when the country celebrates 100 years of independence. The FM, quoting UN population statistics, said, “With 65% of the entire population of a working age, the productivity and contribution to GDP are going to be much higher than what the world can see today.”

Speaking at a convocation event at IIITDM, Kancheepuram, she said the government has taken several steps toward achieving the status of a technologically savvy advanced country by 2047, including setting up of a number of centres of excellence, centres for smart manufacturing and centres for artficial intelligence, among others. “It is not just building one or two IITs, or IITDMs, its also building centres of excellence around them. You create an ecosystem that can help science and technology and which can also train people to be inclined toward innovation,” she said.

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Speaking about country’s higher education, the FM said India’s higher education has created some of the best company executives, pointing out that globally, 58 top-notch company CEOs are Indian in origin, and that around 25% of all startups in Silicon Valley are managed by people of Indian origin.

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