He described this as "a demographic dividend" that could contribute immensely to the economy "not only because they can contribute internally to the domestic economy, but they can also contribute to the global economy as when they go and work outside or they can contribute through outsourcing as is being done in our industry."
"Thus, human capital has become the core and the essence of what is happening in India and is at the root of India's resurgence today," he said.
2. Entrepreneurship gains acceptance
Nilekani said another significant change in mindset was regarding entrepreneurs who are no longer viewed with suspicion but as icons of economic growth.
He noted that since 1991, "when there has been a huge expansion of enterprise, there is a far bigger role for the private sector and for industry, and today, India has the largest pool of entrepreneurial talent outside the United States."
"Entrepreneurship in India is blossoming and Indian entrepreneurs are not afraid of liberalization anymore. They are very confident and globally competitive and they are not only investing abroad, they are buying companies abroad."
Image: Steel tycoon Lakshmi Mittal at a France-India economic conference in New Delhi. | Photograph: Philippe Wojazer/AFP/Getty Images
Also read: 'Price rise is a fact of life. You have to adjust' 
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