World of Work: India Case Study
In less than five years, India will be the most populous nation in the world; in addition, while many Asian countries are aging, India is projected to be the youngest country in the world by 2020. There is concern that the Indian economy is not creating enough “good jobs” to satisfy the appetites of its aspiring youth. The largest part of the labor force in India is informal, young, and underemployed, with low wages and unmet aspirations.
Many institutions in the country are already thinking about how to address the current challenges and disruptions in the labor market, namely informality, automation, globalization, and the youth bulge. In India, tackling informality and youth unemployment are likely the most essential elements to address if continued economic growth, improvements in living conditions, and social cohesion are to be upheld.