India may have surpassed China by 5 million as far as population is concerned: Report

India may have alrey surpassed China as world's most populous nation which highlights need for nation to create more jobs and avoid an economic fallout.

According to estimates from World Population Review (WPR), an independent body focused on demographics, India's population climbed to 1.417 billion in year ending 2022, refore surpassing China by over five million. For first time in deces, China registered a shrink in its population which stood at 1.412 billion as its birthrate plunged, official figures revealed on Tuesday.

National Bureau of Statistics in China said country h 1.41175 billion people at end of 2022, compared with 1.41260 billion a year earlier. figures registered a fall of 850,000 people in China, first since 1961.

In long term, UN experts see China’s population shrinking by 109 million by 2050, more than triple decline of ir previous forecast in 2019. This will mean a shrinking labour force and a greater burden on healthcare and or social security costs, reported Independent. 

Both India and China now have more than 1.4 billion residents each, something which is bound to have major implications for two largest growing economies on planet. In a press conference on Tuesday, spokesperson of Chinese Embassy in India counsellor Wang Xiaojian said both countries should benefit from a“demographic dividend” when asked about new statistics. “China and India both have a large population and rich labour resources. It is important for both countries to benefit wisely from demographic dividend for development and rejuvenation and make a greater contribution to future of humanity,” he said.

According to Organisation for Economic Cooperation and Development’s 2021 data, India’s working-age population stands at over 900 million highlighting urge for more employment in subcontinent.

China's birth rate drops to record low figures

For first time in six deces, China has experienced a drop in its population with national birth rate plunging to 6.77 births per 1,000 women, according to BBC. country’s birth rate being on a downward trajectory has prompted a string of policies put in place by Chinese government to slow trend.

birth rate also experienced a steep decline from 7.52 in 2021, as per figures released by China's National Bureau of Statistics on Tuesday. “China’s population declined for first time since 1961,” said Zhang Zhiwei, chief economist at Pinpoint Asset Management.

“ population will likely trend down from here in coming years. This is very important, with implications for potential growth and domestic demand,” Zhiwei said, according to South China Morning Post. country has now reached an "era of negative population growth," years after it dismantled its one-child policy. Furrmore, number of deaths surpassed number of births in 2022 for first time.