why people of the country are considered to be asset
Answers
Explanation:
Rising population is an asset, provided, the skills of the workforce is used to the maximum extent. If not channelized properly, it can be a liability for a nation. A skilled and hardworking population can emerge as a foundation for a country’s development. The population acts as a strength only when there is a potential to provide food, clothing, shelter, education, healthcare and jobs.
For instance, India’s population is 1.33 billion (About 51 births per minute!!) which is larger than that of the United States, Brazil, Japan, Pakistan, Indonesia and Bangladesh combined. More than 50% of its population is below the age of 25 and more than 65% is below the age of 35 that can result in growth of the nation since the young workforce has more innovative ideas. It is expected that, in 2020, the average age of an Indian will be 29 years, compared to 37 for China and 48 for Japan. Except for China, no other country in the world has such a big workforce which is certainly a blessing. Huge population provides a bigger pool of human capital; as well as consumer base as a huge population will create demands. “India produces 2.5 million IT, engineering and life sciences graduates a year, besides about 650,000 post graduates in science and IT related subjects. The IT sector alone employs about 850,000 graduates and professionals while the pharmaceutical and biotechnology sectors are snapping up others.”
For big firms, scarcity of less expensive labour is one of the major problems. If a country has more workforces, it can be taken in to use by providing various training programmes. This will make people skilled and productive as well as will also help them earn a good standard of living. In past few years, many global firms have outsourced work to take advantage of India's low-cost and skilled workforce. Similarly, China has trained its manpower by utilising it and made it available for firms as low-cost, productive workforce. The giant multinationals have their plants and manufacturing industries in China.
Therefore, a large population can make a country more developed only if the potential of country’s youth pop. !!!!!Hope it help you. pls follow me
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