Young Indians Hopeful Of A Brighter Future: Deloitte Survey

According to Deloitte’s 2024 Gen-Z and Millennial Survey, 58 percent of Gen-Zs and 65 percent of millennials are optimistic that the country’s overall economic situation will improve in the next 12 months. Additionally, close to 50 percent of them believe that the country’s social and political scenarios will also get better.

By June 2, more than 18 million people in India would have voted for the first time in the ongoing general elections--most of them Gen-Z, or those born after 1997 and millennials. The results of this massive democratic exercise will be out on June 4. 

Deloitte’s 2024 Gen-Z and Millennial Survey reveals that 58 per cent of Gen-Zs and 65 per cent of millennials believe that the country’s overall economic situation will look up in the next 12 months. Close to 50 per cent of them think the country’s social and political scenarios will improve as well. 

The survey covered 22,000 Gen-Zs and millennials from various countries, including around 800 from India. The primary concerns for Indian Gen-Z respondents were education, skills, and training (29 percent), unemployment (23 percent), climate change (21 percent), sexual harassment (19 percent), and mental health (18 percent). Meanwhile, Indian millennials were primarily concerned about climate change (30 percent), healthcare/disease prevention (24 percent), unemployment (24 percent), education, skills, and training (23 percent), and economic growth (21 percent).

Among the respondents, 89 percent of Gen Zs and 96 percent of millennials in India, compared to 86 percent of Gen Zs and 89 percent of millennials globally, believe that having a sense of purpose in their job is important for job satisfaction and well-being. On average, nearly 85 percent of Gen Zs and millennials in both India and globally feel that their current job provides them with a sense of purpose.

Eighty-four per cent of Gen-Zs in India (73 per cent globally) and 90 per cent of millennials in India (77 per cent globally) actively try to minimise their impact on the environment. With the ongoing heatwaves, sandstorms, tornadoes, and other calamities around the world, both groups believe that doing their bit for the environment isn’t enough. Close to 90 per cent in India and 80 per cent globally believe that governments should push businesses to address climate change and enable consumers to make more sustainable purchasing decisions.

Indian Gen-Z and millennials are more likely than the global average to urge their employers to take climate action and to be willing to pay more for sustainable products. Additionally, 31 per cent of Gen-Z and 35 per cent of millennials in India have stopped or reduced their relationship with a business because their products or services negatively impact the environment.

The report indicates that Indian participants are more enthusiastic about Gen AI (artificial intelligence) than respondents globally. Indian Gen-Zs and millennials are about twice as likely to use Gen AI regularly compared to the worldwide average. A large majority of Indian Gen-Zs (80 percent) and Indian millennials (82 percent) anticipate that Gen AI will improve their work-life balance and productivity. Additionally, 40 percent of Indian respondents have received training in Gen AI, which is more than double the global average.

On mental health, the report shows that 64 percent of Gen-Zs in India (compared to 51 percent globally) and 76 percent of Indian millennials (compared to 56 percent globally) consider their overall mental health and well-being to be good. Also, 40 percent of Gen-Zs and millennials in India believe that their jobs are a significant contributing factor to anxiety and stress.