Japan’s Labour Shortage and India’s Unemployment: Developing a Complementary Relationship
摘要
Most developed nations face ageing and labour shortages, significantly hurting their economies. Ageing and labour shortage are interrelated and ambivalent, with the former’s ability to create a void in the labour market significantly hurting the economy. While Japan is facing a severe population crisis that affects the nation’s economy, India prevails over population growth and job deprivations. The average age in India is deficient, and the working age group is the highest among the developing nations. The skyrocketing cost of living in most countries contributes to higher life expectancy, ageing, and decreasing birth rates. Governments and citizens must take collective steps to address these issues, such as increasing women’s participation in the workforce. However, with a high unemployment ratio and jobless youth, creating enough employment opportunities for its economic sustainability becomes a difficult task for India. Despite concerns about the skill sets and education of India’s labour force, this examines how the country can leverage opportunities by developing skilled labour markets to boost its economy. The paper studies the cordial relationship between India and Japan as a significant opportunity for the fruitful utilisation of India’s growing workforce and the advancement of employment opportunities for India’s economic growth.