Economics

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I wrote an article on Jan 21st, 2005, about India's Goals for 2020. The key points in that article were about the GDP (Gross Domestic Product) and Labor distribution across the sectors (Agriculture, Industry, and Services). 

In 2004 (India's) GDP, Labour distribution for Agriculture was around 60% (282 Million / 28.2 Cr people), and in the last 20 years, we were able to reduce that to only 42%, approximately 213 Million (21.3 Cr) People. At the same time, China decreased that from 50% (389 Million in 2004) to 27% (219 Million people in 2021). 

Another surprising factor is even though we overtook the Chinese in terms of population, the Govt stats show that our workforce is only 507 million (50.7 Cr) people, while the expected workforce is around 800 million (80 Cr) people. 

Our workforce is expected to be around 800-900 million in the next 5-10 years. The worrying question is what will be the distribution of the labor force in 2030 (assuming 800 million people) and what percentage of that workforce will be in Agriculture. 40% of 800 Million will be around 320 Million, or 35% labor force (Agriculture) will be approximately 280 Million people. The Entire US population is approximately 340 Million. 

Now let us look at the table to compare India and China's progress in the last 20 years. The focus is on the GDP distribution to the economy and labor distribution in each sector (Agriculture, Industry & Services).