The report "Healthy Young Minds: Transforming the Mental Health of Children" which was released on the first day of the second World Innovation Summit for Health (WISH) here said that one in 10 young people under 18 has a diagnosable mental illness worldwide.
"One in 10 young people under 18 has a diagnosable mental illness such as depression, anxiety and conduct disorder - amounting to 220 million worldwide.
The recommendations of an inquiry led by Professor Richard Layard, an expert on happiness at the London School of Economics said that the wellbeing of children must become a major priority for every nation and work must start within communities, healthcare systems and schools to address the burden of poor mental health in childhood.
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The report said that the investment required to implement the recommendations could revolutionise the lives of children, whilst also producing major economic benefits to society while focusing on 10 specific evidence-based action points that can be carried out in every country.
"There should be a major international programme to develop free smartphone-based approaches to all the recommendations. A major international charity should be asked to support this," one of the recommendations said.
"Our single most important recommendation is that one or more major charities establish a substantial fund to design online programmes to support staff training, treatment and the delivery of life-skills curriculums in schools, to be made available free worldwide.
"We recognise the financial pressure on health systems, but we firmly believe that modern smartphones and computer technology have made it possible to deliver effective help at low cost. This is an opportunity not to be missed," said Layard, Wellbeing Programme Director at the Centre for Economic Performance at the London School of Economics.