India's youthful demographics yielding dividends, says envoy

Last Updated: Sat, Mar 09, 2013 16:50 hrs

Mexico City, March 9 (IANS) Interacting with students of a business school here, Indian Ambassador Sujan R. Chinoy pointed out India's rich demographic dividend of a youthful population at a time when many parts of the world, including the US and Europe, were facing shortage of human resources.

Chinoy, in his talk to business school students of Mexican Institute of Higher Studies of Monterrey (ITESM), said that in view of the youthful population in India "this is perhaps why Goldman Sachs has predicted that India is the only country in the world which can maintain a growth rate of 5 percent up to the year 2050", said a statement.

He also cited the growing middle-class as a positive vector that would continue to spur economic growth in India. The strong and stable fundamentals of the Indian economy had recently been strengthened by many far-reaching reforms carried out by the government, he said.

"The outlook remained very optimistic and India was expected to regain its trajectory of high growth rates of more than seven per cent in the near future," he said.

On India-Mexico bilateral economic relations, he said it was important for both to jointly address constraints hampering bilateral trade like the regulatory regimes in place (especially in sectors like pharmaceutical products and agricultural produce), non-tariff barriers, visa and work permits, shipping links and air connectivity.

During a separate interaction with students of the Institute of Economic Research in the National Autonomous University of Mexico (UNAM), during which the ambassador was present, proposals were put forward seeking tie-ups for student and faculty exchanges with counterpart institutions in India and the setting up of a Chair to be named after Mahatma Gandhi.

The proposals included collaboration in a range of academic activities.

UNAM, which already has tie-ups with some universities and institutions of higher learning in India for student and faculty exchange, as also for scientific and technical cooperation, evinced interest in further tie-ups with the St. Stephens' College in the University of Delhi, Banaras Hindu University and the Rashtriya Sanskrit Sansthan, a deemed university, the statement said.

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