India’s Paradox of Plenty
Paradox of plenty or the resource curse (Richard Auty used this term for the first time I 1993) refers to a paradox that countries having abundant natural resources tend to grow slower than other countries having relatively fewer resources. This paradox generally refers to natural resources like oil etc., but in India we can attribute the same to Demographic mileage also. Countries like Japan, Canada etc. despite have successfully brought themselves up even without having demographic dividend. Despite having the largest chunk of young population, around 35% in the age group of 22-38, we are unable to take advantage of this demographic dividend. Last year, Aspiring minds did a study on the employability on the young engineers and concluded that around 94% of the engineers are not employable, or we can rather say they are not industry ready. NASSCOM-McKinsey report said that not more than 26% of Indian engineering graduates are employable. This is not about engineering only, the sa