The median age in India was 27 years old in 2020, meaning half the population was older than that, half younger. This figure was lowest in 1970, at 18.1 years, and was projected to increase to 47.8 years old by 2100. Aging in India India has the second largest population in the world, after China. Because of the significant population growth of the past years, the age distribution remains skewed in favor of the younger age bracket. This tells a story of rapid population growth, but also of a lower life expectancy. Economic effects of a young population Many young people means that the Indian economy must support a large number of students, who demand education from the economy but cannot yet work. Educating the future workforce will be important, because the economy is growing as well and is one of the largest in the world. Failing to do this could lead to high youth unemployment and political consequences. However, a productive and young workforce could provide huge economic returns for India.
In the financial year 2021, the number of super-rich households earning more than ** million Indian rupees went up to **** million from **** million in the financial year 2016. This was an annual growth of **** percent. The number is expected to grow to over **** million in the financial year 2031 and ** million households in the financial year 2047. This will be the fastest growth across all income categories. On the other hand, destitute classified Indian households with earnings of less than *** thousand annually decreased only marginally to ***** million in financial year 2021 from **** million in 2016. However, it is estimated that the number of destitute households will fall to just *** million by the financial year 2047.
The market size of the real estate industry in India was valued at around *** billion U.S. dollars in 2022 and is estimated to reach ************ dollars by 2030. Real estate industry is forecasted to grow exponentially until 2047. What is included in the real estate sector? The real estate sector includes a variety of segments dealing with land and the buildings on it as well as with related resources if necessary. During the development phase of real estate projects, the construction industry is responsible for the realization. The real estate market includes all the sales and investment processes within the sector. Depending on the purpose of the building, the market is made up of the segments residential, office, commercial, or retail real estate. Sometimes housing is even used synonymously for real estate. Importance of the real estate sector in India Due to a stable growth in recent years and the variety of segments contributing to it, the real estate sector is perceived to be one of the main drivers for India’s economic development in upcoming years. As the Indian population is comparatively young and urbanization is continuing, the demand for housing is strong. Additionally, the office segment benefits from a strong IT-sector, while the construction-industry is one of the leading industries in India for attracting foreign direct investments. Besides its importance for the Indian market in general, the real estate sector comes second in generating employment after agriculture.
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The median age in India was 27 years old in 2020, meaning half the population was older than that, half younger. This figure was lowest in 1970, at 18.1 years, and was projected to increase to 47.8 years old by 2100. Aging in India India has the second largest population in the world, after China. Because of the significant population growth of the past years, the age distribution remains skewed in favor of the younger age bracket. This tells a story of rapid population growth, but also of a lower life expectancy. Economic effects of a young population Many young people means that the Indian economy must support a large number of students, who demand education from the economy but cannot yet work. Educating the future workforce will be important, because the economy is growing as well and is one of the largest in the world. Failing to do this could lead to high youth unemployment and political consequences. However, a productive and young workforce could provide huge economic returns for India.