By 2020, median age in India will be 28.1 years

Planned skill development would help India make productive use of its young population, says parliamentary committee

GN Bureau | January 5, 2017


#PRS Legislative Research   #Japan   #China   #India   #Parliamentary Committee   #GDP   #Economy  
Representational image
Representational image

In the next three years, the median age in India is projected to be 28.1 years, as compared to China (38.1 years), Japan (48.2 years) and USA (37.3 years), said a report of the standing committee on the industrial policy in the changing global scenario.

The report said that presently, a majority of the working population in the country is in the unorganised sector, making it difficult to gauge the skill requirement in the sector.

The committee recommended that planned skill development would help India make productive use of its young population. The low cost of production in India will also help in giving it a competitive global advantage in manufacturing and production, said a summary of the report prepared by PRS legislative research.

On industrial reforms, the committee noted that reforms must be taken up regarding a number of aspects in the industrial sector. To ensure transparency in the allocation of natural resources, an open, competitive mechanism must be undertaken, along with greater disclosure of the approval process for industries.

Other reforms suggested include industry-friendly land acquisition frameworks by state governments, anti-corruption reforms, better inter-ministerial coordination, and judicial, financial and efficient public procurement reforms. The National Manufacturing Policy must be reoriented to promote smart manufacturing, which includes zero emission, zero-incident, and zero-defect manufacturing.

On research and development, the committee noted that the manufacturing sector is mainly composed of low value addition industries, and thus cannot create technological capabilities. India’s manufacturing value addition is $226 billion, compared to China’s $1,923 billion and USA’s $1,856 billion. In addition, India spends 0.8% of its GDP on research and development, compared to 1.2% by China and 2.6% by USA.

The committee recommended that the government needs to provide an enabling environment for private enterprises to invest in technology creation in order to achieve high value addition. Special focus must be placed on machine tools, heavy electrical equipment, transport and mining equipment.

Regarding foreign direct investment in small enterprises, the committee noted that the recent measures taken to promote foreign direct investment (FDI) mainly benefit large industries. It recommended that the government may take measures to promote FDI in the small and medium enterprises sector. In addition, for FDI in any industry, the ownership may be allowed to be transferred to the Indian partner after a specified period (15-20 years), including the transfer of technology. Foreign investors may be encouraged to source their inputs other than technology, from within India.

Read: Labour laws are not a problem to industrial development

 

Comments

 

Other News

Talking to Trump, Modi hits out at Imran’s anti-India rhetoric

Prime minister Narendra Modi has told US president Donald Trump that Pakistan prime minister Imran Khan’s “incitement to anti-India violence” was not good for peace in south Asia. Modi and Trump had a telephonic conversation – their first since the Aug 5 move to chang

Paediatricians call for junking unhealthy food

As children are consuming more and more fast foods and sweetened beverages are becoming, leading to obesity and related non-communicable diseases (NCDs), the Indian Academy of Pediatrics (IAP) has come out with guidelines on such substances. The dietary guidelines under its nutrition chapter

Modi’s forward-looking I-Day speech lays down 5-year agenda

Contrast prime minister Narendra Modi’s first Independence Day speech in 2014 with his latest, the first in the second term, and you know the difference. His first speech was less about future and much about the basic needs like Swachch Bharat (clean India). His speech on Thursday, on the other hand,

Better cities require active citizen engagement

With Mumbai city battling myriad civic issues and annual flooding year after year, stakeholders and experts came together to discuss ways of dealing with these issues as community work. The discussion was held at the TEDxVersova Salon- Vibrant Civic Participation, an independent TED event organized by the

Independence Day: PM underlines new beginnings

Addressing the nation from the ramparts of the Red Fort for the first in his second term, prime minister Narendra Modi highlighted the new beginnings his government has made in recent days, and underlined the hopes of a new India in the making. “Things that could not happen in the past

Kashmir decision “sole prerogative of the country”

India has told China that the legislation changing the status of Jammu and Kashmir was “an internal matter. External affairs minister S Jaishankar, visiting China Monday, told foreign minister Wang Yi that the legislative measures were aimed at promoting better governance and socio-ec



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter