
India’s population stood at 1.417 billion at the end of 2022, according to estimates from the World Population Review. As of January 23, the population stands at 1.423 billion, and it’s expected to reach the milestone in the latter part of the year. While China’s population is aging quickly and shrank in 2022 for the first time since the final year of the Great Famine in the 1960s, half of India’s population is under the age of 30. India is expected to have a large working population by the year 2100.
Though the population of India is growing, inequality in terms of income and gender also widens. Five percent of Indians own more than 60 percent of the country’s wealth, while the bottom 50 percent of India’s population possess only three percent of the wealth, according to Oxfam India’s latest report.
India ranks 123 and 135 globally according to the world inequality report and the gender gap index, respectively. Along with that, there has been a rise in unemployment over the years.

A few articles say that some younger Indians, aspiring to white-collar work, are deferring employment rather than laboring in a factory. About half of the potential workers under the age of 30 aren’t even looking for jobs. When asked about the differences between the Bay Area and India, Julie Zhuo stated that young people in India prefer a sense of stability and the prospect of working in a prestigious company over working in a startup.
The Indian business elite is optimistic despite the changes. Startups and unicorns are becoming more common, and both groups are flourishing. According to the report, India is fundamentally doing very well despite the disruption in supply chains, the rise in oil prices, the inflation crisis, and the war crisis. Here is the ranking of the top 25 economies and the reference scenario in 2030, 2050, and 2100.

Leaving that behind, there was an interesting podcast on the behavior of Indian consumers. The major highlights discussed are
- Collective spending over individualistic spending
- Different Marshall hierarchy of needs (social status)
- The majority of annual income is spent on weddings, education, and health
- Less female labor participation compared to other countries like China, the US, South Korea, etc. (the percentage has even dropped after the pandemic).
- Trust is hyperlocal or hypernational
- Most of the financial products are held by men
- Best years for building a tech startup
Cheers!
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