At that time, there will be shortage of working hands elsewhere in the world and the country will have 'demographic advantage', Mukherjee said.
"India being the oldest civilisation is going to be younger" in coming years with the largest number of skilled young working professionals and India has to provide leadership to the world, he said.
To achieve this, the country should reach the target of 500 million skilled manpower creation programme, Mukherjee said while addressing the Annual Day of the Kolkata Chapter of Young Indians, the youth wing of the Confederation of Indian Industry (CII).
"This situation has to change and the change will be brought by you, not by me, and the responsibility lies on you," he observed.
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About India's rich diversity, Mukherjee said it is the land of three major ethnic groups - Caucasian, Dravidian and Mongoloid - and it is the country of 160 languages and dialects, of divergent customs and practices in daily life.
Yet India remained one and guided by the same Constitution and the same system, he pointed out.
Stating he had left Rashtrapati Bhavan eight months back, Mukherjee said he came to address the CII Young Indians as "an elderly guardian'.