A Moody's report says India will have many more elderly people later this century as fertility falls and the population's age structure shifts. The change will slowly close India's famous demographic window.

The report notes that a falling birth rate means the share of young workers will shrink over time, while the number of older dependents will rise. This will put pressure on healthcare, pensions and public finances.

India's large young population has long been seen as an economic advantage. Moody's analysis suggests the country must use this dividend now by creating jobs and building health and social systems.

Policymakers will need to plan for elder care, retirement savings and a changing workforce. The report adds to a growing debate on how India prepares for an older future.

Experts say the findings strengthen the case for pension reform and wider health insurance. States with faster fertility decline may face ageing pressures sooner than the national average.