4min chapter

HSBC Global Viewpoint: Banking and Markets cover image

Under the Banyan Tree – New India: What does tech growth mean for jobs?

HSBC Global Viewpoint: Banking and Markets

CHAPTER

The Future of India

Chief India Economist Pranjal Bandari says tech focus sectors could push up growth to at least 6.5%. 2023 is the year when according to the UN, India will overtake China to become the world's most populous nation and rapidly growing population means of course, a lot of jobs are needed. "New India makes up 15% of GDP, but it only hires 5% of India's labor force," he says.

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