MOSL: Morning India (7/November/17): 1. Economy (FoE)- 2. Transport Corporation (CO)- 3. Indian Bank- 4. Gujarat Gas- 5. L & T Infotech- 6. GE T&D India- 7. K E C Intl- 8. Zensar Tech.

​MOrning India (7/November/17): 1. Economy (FoE); 2. Transport Corporation (CO); 3. Indian Bank; 4. Gujarat Gas; 5. L & T Infotech; 6. GE T&D India; 7. K E C Intl; 8. Zensar Tech.

Today’s top research theme

• Economy (FoE): How can India reap its demographic dividends? Labor force participation ratio holds the key

• At a time when other major economies are experiencing an aging population, the opportunity for India to increase its foothold in the global economy is immense, if it is able to exploit its demographic dividends. India's total dependency ratio - a measure to gauge demographic dividends - has fallen from ~68% in mid-1990s to ~52% in 2015 and is expected to bottom at ~46% by 2040.

• While a larger working-age population might be necessary, it is not sufficient to reap demographic dividends. The share of working-age population looking for work holds the key. During the past decade, while India's working-age population has grown at 1.9% per year, its labor force has grown at just 0.9%.

• Over the next two decades, larger working-age population must be complemented by a recovery in the labor force participation ratio (LFPR). Nevertheless, higher LFPR will bring with it the challenge of providing sufficient good-quality employment opportunities, without which India will not be able to reap demographic dividends.