India is estimated to become the most populous country in 2023, and its population is projected to increase by around 240 million over the next 25 years. The implications of this growth in population on the economy are multifaceted.
On one side, as the population grows, there will be increased demand for goods and services. Over the last decade, the size of India’s consumer market nearly doubled to US$2.1 trillion, and it has progressed from being the tenth-largest consumer market to the fourth-largest one in the world today. By 2047, India’s consumer market has the potential to be nine times its current size, at US$18.5 trillion, behind only the U.S. and China.
https://economictimes.indiatimes.com/news/economy/policy/the-three-elements-that-india-needs-to-fix-in-the-next-25-years-to-reap-demographic-benefits/articleshow/98423790.cms?from=mdr