India’s growth due to younger population

INDIA: Indian billionaire Mukesh Ambani Sunday expressed confidence over India’s continuing growth in the 21st century, as the Indian population is comparatively younger, a report by the semi-official Press Trust of India said Sunday.

Reliance Industries Ltd Chairman and Managing Director Mukesh Ambani told the International Bar Association Business Law Conference on India in Mumbai that “fundamentally, the world is becoming older and India is becoming younger and that is our strength,” according to the report. He cited official statistics that out of India’s 1 billion people, 44 percent are less than 19 years of age, which he said is a democraphic advantage in economic competition.

“In the next 20 years, we will have more than 400 million under the age of 35 and in a decade from now, only 10 per cent of Indians will be above 60 years of age,” he was quoted as saying. Ambani was elected as one of the top 10 most powerful billionaires in the world by the US money magazine Forbes for a second consecutive year last month.

New Delhi,Monday, Xinhua