Former NITI Aayog vice chairman, Arvind Panagryia, emphasised the need for India to overhaul its higher education system in order to capitalise on the declining working-age population in developed countries such as the United States and European nations. Panagryia highlighted that the populations of many countries are ageing, resulting in a decline in the working-age population (15 to 64) in major nations like China, the United States, and European countries.
India, along with Africa, is projected to be one of the few large countries that will contribute positively to the global working-age group. According to data from the United Nations Population Division, India is expected to add approximately 150 million individuals to the working-age population category by 2040. Consequently, the Indian population will comprise a significant portion of the global workforce.
Middle-class transition
Panagryia stressed the importance of the ongoing transition to a middle-class society in India, as this segment of the population will likely provide a significant proportion of the migrant workforce. Therefore, it is crucial for India to revamp its higher education system to meet the growing global demand for a highly educated workforce.
The urgency to reform the higher education system and enhance the quality of education in India is further heightened by the fact that India will play a defining role in shaping the global workforce. Panagryia also noted that the Indian diaspora is generally more readily accepted in host countries due to India’s cultural ability to assimilate into local populations.
Despite potential challenges posed by anti-immigration policies, Panagryia remained confident that the demand for skilled labour will outweigh any barriers. He emphasised that the workforce flow will persist due to the strong demand for skilled workers. Consequently, it is imperative for India to prioritise educational reforms to ensure its workforce remains competitive in the global market.
(With agency inputs)