Market Overview

India: The New Economic Growth Engine

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In a tweet from Financial Post, Financial Post writes that the new driver of economic growth is none other than India.

With a huge demographic that is just about to enter the workforce, India is poised to benefit for years from this. According to Goldman Sachs, by 2020, India will have added an additional 110 million people in the labor force, more than any other country.

According to Joseph Caron, Canada’s former high commissioner to India, “The potential is huge and it will happen.” “These things will happen, and they will transform us.”

There is a tremendous amount of importance placed on education in India, and the country needs an educated workforce to continue its strong economic expansion. “There’s a very great preoccupation there with education,” said Mr. Caron. “The demographic dividend is one side of the coin; it can be a great disaster if people aren’t educated to meet the needs of the growing economy.”

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Posted-In: Financial Post Goldman Sachs IndiaEmerging Market ETFs Global ETFs

 

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