Summary:

According to a McKinsey Global Institute analysis, India is projected to account for 16% of global consumption by 2050, up from 4% in 1997 and 9% in 2023. By 2050, only North America will surpass India, with a predicted 17% share. This increase is driven by India’s young, growing population and rising incomes, with emerging markets, including India, expected to account for more than half of global consumption over the next 25 years.

The study highlights a major demographic shift as fertility rates fall in first-wave regions, leading to an aging population. By 2050, only 26% of the global population will live in these regions, down from 42% in 1997. This change will shift labor to emerging countries, with India contributing twothirds of global working hours. Despite challenges, India’s demographic dividend has fueled GDP growth, and greater female workforce participation could further boost it by 4-5%.

Source: IBEF

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