A report by Deloitte has this graphic which captures the essence of India's most worrying economic-demographic imbalance.
An oversized 58% of the workforce involved in agriculture contributes just 15% to the GDP. India's biggest challenge in the coming years will be to manage the transition of a large share of this 58% into manufacturing and services. Given the already large share of services sector, manufacturing may have to absorb the major share of those moving out of agriculture.
An oversized 58% of the workforce involved in agriculture contributes just 15% to the GDP. India's biggest challenge in the coming years will be to manage the transition of a large share of this 58% into manufacturing and services. Given the already large share of services sector, manufacturing may have to absorb the major share of those moving out of agriculture.
1 comment:
I did a brief post about urbanization in India:
http://potemkinreview.blogspot.com/2012/04/india-should-really-start-paying.html
The government has to start thinking about policies that will spur urbanization without causing agglomerated poverty. China and India are in similar positions - except China is actually doing something about it.
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