– Currently, there are over 9.14 million elderly workers, one out of every seven workers being aged over 65.
– By 2040, seniors may compose 34.8% of the population, potentially resulting in a worker shortage exceeding 11 million people.
Japan’s demographics offer vital lessons for India as it steers through significant economic and societal shifts shaped by its own demographic trends-a younger population but with gradually increasing elderly cohorts due to better healthcare.
The sharp decline in Japan’s working-age citizens highlights how aging populations can strain economies through rising social expenditures coupled with dwindling income tax bases-a warning sign for governments worldwide prioritizing enduring workforce policies.
For India specifically:
1) The emphasis lies on tapping its young labor market while preparing long-term measures against future aging challenges such pensions reforms caregiving infra balancing productivity+loss gaps!
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