AI Summary
5 min readIn Mumbai, a 24-year-old named Deshank Jangid works at his family’s jewelry store, R. Pukraj Jewellers, after his father Anil gave him a “reality check” and asked him to leave his custom t-shirt printing company. Deshank’s friends, he says, “all we talk about is how to save money when we go out.” His father, who prays to the gods before opening each day, describes business as down 50 to 60 percent after the prime minister asked Indians to stop buying gold for a year, a request they follow because “country first.” This generational negotiation—between young ambition and family legacy, between global opportunity and local reality—is playing out across India, the world’s fastest-growing large economy, where the median age is 29 and the workforce is both very young and very crowded.
Chasing youth in the world’s youngest big economy
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What you'll learn
- 1 (00:29) **Episode Introduction & Host Setup** - Kai Ryssdal sets up the show, previews the week's inflation data, and introduces the series "The Age of Work."
- 2 (04:30) **Akil Tapia's Story: Leaving the U.S. for India** - The un-aired interview from May 2023 introduces Akil Tapia, a software developer moving back to India after his visa ran out.
- 3 (08:02) **Akil's Return: A Year Later** - Akil discusses his adjustment back to Mumbai, noting the city's speed and the role of family support.
- 4 (10:39) **India's Demographic Advantage & Workforce Shift** - The broader trend: India is the biggest source of international students for U.S. colleges, but fewer are applying, and skilled workers are returning.
- 5 (11:21) **Exploring Zaveri Bazaar: The Scale of Indian Commerce** - Kai and Neela visit a massive wholesale market, showcasing the scale and generational nature of Indian retail.
- 6 (15:57) **On the Streets of Mumbai: Chasing Youth** - Kai and Neela navigate the chaotic streets of Zaveri Bazaar, framing India as the final stop in their global demographic tour.
- 7 (18:16) **India's Economic Challenges: Infrastructure & Inequality** - Neela Richardson outlines the key hurdles facing the Indian economy despite its rapid growth.
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Show Notes
As the workforces of the U.S., U.K., and similar wealthy Western nations age, other countries with younger populations grow at a clip. Nowhere is this more true than India, where the median age is 29 (a decade younger than the U.S.) and GDP is growing at nearly 8% annually. As part of our ongoing “Age of Work” series, “Marketplace” host Kai Ryssdal and ADP Chief Economist Nela Richardson visited Mumbai to understand a workforce and economy that is very different from our own. In this episode, they visit a bustling bazaar where young jewelers are inheriting family businesses.
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