The 'demographic dividend' is often used as a catchphrase for flaunting the advantages that emerging countries enjoy. This phrase usually implies the benefits that will arise out of most of the emerging world staying young while the rich world ages.

However, there's another subtler but extremely important feature within this trend that deserves closer attention. The number of young entrepreneurs in places like India are rising. And at an astonishing rate. In a report, the Economist points out to Infosys founder Nandan Nilekani. He expressed recently how he now comes across mould-breaking young leaders wherever he goes in India.

It further goes on to illustrate IT company 'Globals' as 'one of those fast-growing Indian IT companies that Westerners simultaneously admire and fear'. Its chairman is a mere 24 years of age. Most of its employees too are also in their mid-twenties. New business models and aggressive innovation are turning out to be the hallmarks of such young entrepreneurs.

This phenomenon gains importance for India in light of the sloppiness that the corruption soaked government has often shown. When it comes to rapid reforms and development, the government is the last thing you want to bet your money on. It is this young India, and its thriving entrepreneurial spirit, that will see the country through to those ambitiously high rates of growth we so desire.

J Mulraj