Negative impactEconomy HIGH IMPACT

India to have more older population set as fertility falls below replacement: Moody’s

Economic Times 1 hr ago·29 Sept 2026, 12:29 pm

Moody's Ratings has flagged that India's fertility rate has dropped below the replacement level, a key demographic milestone. This shift signals that the country's population structure is aging rapidly, with a much older demographic expected by the end of the century. Consequently, the share of the working-age population is set to shrink, potentially limiting the economy's productive capacity.

This demographic transition could have significant implications for investors. A smaller workforce may dampen labor productivity and economic growth. Furthermore, the aging population might lead to a decline in household and consumer demand, as the spending patterns of older adults differ from those of younger, working-age individuals.

Investors should monitor how this demographic shift influences corporate earnings and sectoral performance. Sectors reliant on a young, working-age workforce may face headwinds, while industries catering to the elderly, such as healthcare and retirement services, could see increased demand.

Excerpt from Economic Times

Moody's Ratings indicates that India's fertility rates have fallen below replacement level, affecting its population structure. As a result, India is expected to have a much older population by the end of the century. This demographic shift may lead to a smaller working-age population, limiting productive capacity. It…
Read the original at Economic Times

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India to have more older population set as fertility falls below replacement: Moody’s