Crises In The Making

The Gen Z, out on the streets in large numbers, have suddenly caught the imagination of the country. The precise qualities they were often criticised for earlier—being irreverent, unapologetic and unwilling to accept the status quo—seemingly nudged them to fight for their rights to a fair exam system, equal opportunity, and avenues for jobs and growth.

The protests started against paper leaks in the country’s major exams such as NEET and UGC-NET, which led to about a dozen students committing suicide, but metamorphosed into highlighting bigger problems, of which lack of adequate job avenues took centre stage.

The problem of fewer job avenues is not just anecdotal but rooted firmly in research and numbers. Two major publications earlier this year—the book Breakpoint by Saurabh Mukherjea, founder and CIO, Marcellus Investment Managers (read an interview with Mukherjea on Pg 44), and a report by Azim Premji University (APU), State Of Working India 2026—paint a bleak picture on the future of stable jobs.

While Mukherjea argues that gig work in the form of consultancies and freelance work is what India’s youth and the education system needs to get ready for, the APU report, which was released after the book, shows hard numbers that are consonant with the idea of shrinking “stable” jobs. It shows that while 50 per cent of young graduates find work within a year, only 6.70 per cent find permanent work and a still lower 3.70 per cent get white-collar jobs. It further shows that though the number of graduates has increased from 4 per cent to 28 per cent between 1983 and 2023, 11 million out of 63 million graduates between ages 20 and 29 are unemployed, as of 2023.

India is in the midst of a major flux, and faces challenges at two opposite ends of the generation spectrum. The first is shrinking job opportunities for the youth due to the onset of AI and automation, income stagnation and global uncertainties. The second is the estimated boom in the senior citizen population owing to increasing longevity.

According to data by research platform, Macrotrends, India’s life expectancy for 2026 is around 71 years, marking a steady increase since the 1950s, when it was as low as 35-41 years. The fact that people are living longer is a positive, but it will be unfortunate if that births another crisis.

The time to act is now. At this juncture, which may well be a turning point for the country, government policy needs to be two-pronged. The first needs to be focused towards the youth and the job opportunities that can be created in the face of changing technological realities. The second needs to address senior citizens, whose numbers are expected to more than double from 100 million in 2011 to 230 million in 2036. That also means that they will be nearly 15 per cent of the population by 2036. This cohort would likely need work after 60, the standard age of retirement in India, friendly infrastructure that’s accessible and focused towards their well-being, and financial products that truly cater to their requirements and longevity. In the meantime, they need to strategise to counter growing costs, especially for medical needs, on their own.