The world today views India as a substance; a substance essential to fuel the global economy.
India’s key strength has always been its human resources, whether they’re utilized towards stimulating the global BPO industry, or to run global giants like Microsoft and Google. The country possesses a mindset that has been prickly enough to conquer the intellectual world.
Being an economy of brawny manpower, led by a powerfully backed campaign, “Make in India”; the economy is now poised to lure and foster global manufacturing strongholds into the country.
Speaking about substance, the output is invariably a factor of the quality of input; input being the superiority of manpower that the country now possesses.
India, as a country truly believes that China's days as the globe's most exciting economy are numbered. That's because while China's workforce has already begun to shrink, in part as a result of the country's one-child policy, its neighbor to the West, India, is growing its workforce at a breakneck pace.
According to an Ernst and Young report, the Indian workforce is expected to be 900 million strong by 2020. To put that in perspective, the American workforce, which is the third largest in the world, comes in at just under 160 million people.
As the recipe of economic development is a blend of capital goods, like factories and systems, with labor, a growing labor force can be a huge boon for an economy. However, at the same time, the Indian Government must also train its workforce effectively and build the necessary infrastructure to help its economy thrive.