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India is likely to have much older population later this century as the country's age structure is beginning to shift and fertility fallen "below replacement", Moody's Ratings said on Tuesday.
Moody's said population growth has long been a tailwind for economic growth and creditworthiness, but falling fertility is now changing that picture.
Fewer workers will limit productive capacity, while fewer households and consumers will weaken demand. As a result, countries will have to rely more on productivity to sustain growth.
Moody's said the global fertility rate has declined from 4.9 children per woman in 1950 to around 2.2 today, only slightly above the replacement rate of 2.1.
"What makes this episode particularly significant is that many of the world's largest economies are aging at the same time. In fact, more than 70 per cent of the world's population now lives in countries with fertility rates at or below replacement level," Moody's said in a report on global demographics.
It s

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ITC is strengthening its presence in the fresh dairy segment in Eastern India through its flagship Aashirvaad brand, betting on rising demand for branded milk and value-added dairy products across Bihar, West Bengal and Jharkhand.
The diversified conglomerate, which entered the fresh dairy business in 2018 with the launch of Aashirvaad milk in Bihar and later expanded to West Bengal and Jharkhand, has emerged as the second-largest dairy player in Bihar with a lineup ranging from fresh milk to curd, paneer, lassi and Mishti Doi.
As part of its expansion strategy, ITC has tailored its dairy portfolio to regional tastes, local consumption patterns and evolving consumer preference for quality-assured dairy products.
When asked about expansion to other regions, Hemant Malik, Chief Executive Officer, Foods Division, and Executive Director, ITC, said Eastern India will remain a key focus market for the company's dairy expansion plans, which offers significant headroom for expansion.
"East

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