India may have already overtaken China as the world’s most populous nation
- India’s population stands at an estimated 1.417 billion – a little over 5 million more than the 1.412 billion reported by China on Tuesday
- Although India’s population growth has slowed, demographics experts expect the number of people in the country to continue to rise until at least 2050
The South Asian nation’s population stood at 1.417 billion as of end 2022, according to estimates from the World Population Review, an independent organisation focused on census and demographics.
India, where half the population is under the age of 30, is set to be the world’s fastest-growing major economy in the coming years. To make the most of the demographic dividend, Modi needs to create jobs for the millions of people entering the workforce every year as the nation moves away from farm jobs.
Despite India’s rapid economic growth pre-Covid and its relatively strong recovery from the pandemic, about 800 million people still rely on free food rations from the government, the largest programme of its kind in the world.
China’s population falls for first time in 60 years, deepening crisis
For now, Asia’s third-largest economy is self-sufficient in food production. It is the second-largest producer of rice, wheat and sugar. It is also the biggest consumer of sugar, while being the top importer of edible oils. As a market, India is the second-largest consumer of gold and steel and the third-biggest buyer of crude oil. It is also home to the world’s third-largest domestic aviation market.
Although India’s population growth has slowed, WPR expects the number to continue to rise until at least 2050.
China, on the other hand, is currently seeing a slight contraction, which Bloomberg Economist Eric Zhu described as a “growth crushing headwind for a long time” in his January 18 note.
China’s population shrank by 850,000 in 2022 compared to a year ago, according to data released by the National Statistics Bureau.