India became the world’s most populous country on Friday, ending China’s reign as No. 1, according to an analysis of United Nations population projections. The analysis shows that India’s population reached 1,425,782,975 on Friday. India has overwhelming economic potential, not only due of its population size, but also because of its demographic makeup. This enormous competitive advantage can be seen in India’s dependency ratio.
The dependency ratio is a metric that compares a nation’s youth and elderly, who do not work, to its working population. The lower the ratio, the fewer non-workers a country needs to support. So for example, a nation with 50 dependents for every 100 workers will have a lower dependency ratio than a nation with 90 dependents for every 100 workers. UN projections published in 2022 show that India’s dependency ratio is 47 dependents for every 100 workers in 2023, falling from where it sat 25 years ago at 68 dependents for every 100 workers. India’s dependency ratio is projected to fall to as low as 45-to-100 within the next 25 years before it starts rising in 2033. But even then, India’s dependency ratio is projected to be ranked No. 23 in the world in 2048, compared to its current rank of 43, based on a MarketWatch analysis of UN data. That’s a huge edge for th …
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