Benchmark
Superpower India to Replace China as Growth Engine
India's economy has youth on its side.
Photographer: Sam Panthaky/AFP via Getty Images
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India is poised to emerge as an economic superpower, driven in part by its young population, while China and the Asian Tigers age rapidly, according to Deloitte LLP.
The number of people aged 65 and over in Asia will climb from 365 million today to more than half a billion in 2027, accounting for 60 percent of that age group globally by 2030, Deloitte said in a report Monday. In contrast, India will drive the third great wave of Asia’s growth – following Japan and China -- with a potential workforce set to climb from 885 million to 1.08 billion people in the next 20 years and hold above that for half a century.