The consumption story in India is predicated upon the millennial and post-millennial demographic performing productive, paying jobs. A revised forecast of India’s labour market by 2022 (estimated) is sobering—half-a-billion people are expected to be dependent on agriculture, contributing to only a ninth of the gross domestic product (GDP). The pace of transition is not encouraging. A report by Kotak Institutional Equities, Game changer perspectives: forecasts of fewer jobs dull demographic sheen, examines the implications of this on urbanisation and inequality, among other factors.
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