Indeed, demography is not destiny, but just the raw material national destinies are built with. To make good of this demographic opportunity, one would need deep 'reforms'. Mr Modi has shown intent and decisiveness to facilitate labour market reforms, a sticky issue in India, and a cure-all as seen by the neo-liberal types. But taking advantage of the Demographic Window of Opportunity will take more than just the labour market reform.
For a start, this will need a deep education 'revolution' at all levels, a renewed commitment to environment (particularly, Water) and regional peace. This will also need unlocking the new sources of economic growth and prosperity, most of which may lie hidden in the politically and economically neglected 'resource economies' of India's Eastern and North Eastern states. It would also require India to achieve a technology catch-up in all aspects of life, and yet ensure employment or productive engagement for the 10 million young people who will join its workforce every year. And, all along, India has to modernise its agriculture to spread its Green Revolution across the country.
However, educational reform and development is yet to feature prominently anywhere in the plan, and complete silence about the subject and relatively lightweight Ministerial appointment for Education (Ministry of Human Resource Development, as it is called in India) do not bode very well. There is also a disquieting resurgence of a social agenda, including early talk of constitutional changes such as repeal of the special status of the state of Jammu and Kashmir and introduction of an uniform civil code, both long-standing issues of the current ruling party, which can have an incendiary effect on the communal make-up on India, and potentially destablise the whole region. Mr Modi's record on environment in his home state of Gujrat isn't good: He preferred tycoon-driven growth over environmental preservation.
In summary, this is indeed India's moment, but this is about more than efficient governance. This is also a moment when imagination is needed. Having a business friendly government can take a country forward only to a point; the key issues of education, environment and stability need to be addressed and attended to if India is to be able to deliver on its promise. The glorious prospect of demographic window of opportunity has a stark downside: It can go wrong quickly if it is not attended to with intent and imagination.