Human capital  India is the second most populous country in the world and will become the most populous in a couple of decades. It is also one of the youngest and will remain so for some decades to come. At one level, this “demographic dividend” provides an enormous opportunity.
To sum up, an untimely exit by the countries that are ahead in the cyclical upturn creates distortions and encourages other countries to delay their exit, thus further adding to the imbalances and making the exit more difficult for everybody. Why is this happening? There might be three reasons. The first reason is philosophical.