India should create 8 mn jobs yearly to become advanced economy: OECD
1 week, 1 day ago

India should create 8 mn jobs yearly to become advanced economy: OECD

Deccan Chronicle  

Chennai: India will have to overcome labour market challenges, including creation of 8 million non-farm jobs every year and sustain strong per capita growth to achieve its target of becoming an advanced economy by 2047, finds OECD. “India aims to reach 'advanced economy status' by 2047, which requires sustaining strong per capita growth,” it said. Labour market challenges include the need to create 8 million non-farm jobs each year to accommodate projected demographic trends and the ongoing employment shift out of agriculture. However, India’s strong position in technology services or greater utilisation of potential female labour resources could underpin even faster growth than projected.

India Labour  strong  including  market  growth  greater  employment  economy  labour  create  mn  india  challenges  yearly  oecd  cent  jobs  advanced

History of this topic

India job outlook 2025: How IT, energy, infra, logistics will drive hiring
1 month ago

India job outlook 2025: How IT, energy, infra, logistics will drive hiring

India Today  

Employers in India are more optimistic about increased hiring next year compared to their global counterparts. According to the latest ManpowerGroup Employment Outlook report, which surveyed 3,000 employers, 53 per cent plan to hire while 13 per cent anticipate a reduction in staffing levels during Q1 2025. Sonal Arora, country manager of GI Group Holding, stated: “Overall, 2024 was a …

Upcoming Economic Survey to look into deregulation, employment: CEA Nageswaran
1 month, 1 week ago

Upcoming Economic Survey to look into deregulation, employment: CEA Nageswaran

Live Mint  

New Delhi: The upcoming Economic Survey will delve into key themes and sectors like deregulation, unemployment, small and medium enterprises, human capital development, infrastructure and skilling, chief economic adviser V. Anantha Nageswaran said on Thursday. Addressing an event organized by industry body Assocham, Nageswaran underscored the need for deregulation at the state and local levels, drawing attention to the barriers …

GDP to Grow 6.8 PC in FY25: OECD
1 month, 1 week ago

GDP to Grow 6.8 PC in FY25: OECD

Deccan Chronicle  

Chennai: The Organization for Economic Co-operation and Development has raised its forecast for India’s GDP growth to 6.8 per cent in FY25 from 6.6 per cent predicted in May. While strong investment, credit growth and better farm output support the GDP growth, export growth will remain weaker, it said. After clocking GDP growth of 8.2 per cent in the last …

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre
Trending News
1 month, 2 weeks ago

‘Indian economy cannot progress as long as…’: Rahul Gandhi hits out at Centre

Hindustan Times  

Leader of Opposition in the Lok Sabha, Rahul Gandhi on Sunday said that the India's Gross Domestic Product growth rate has fallen to its lowest in two years at 5.4 percent. Rahul Gandhi on Sunday said India's GDP growth has dropped to 5.4 percent, the lowest in two years. The thing is clear - the Indian economy cannot progress as …

IMF Sees India's Economic Growth and Outlook as Stable
2 months, 3 weeks ago

IMF Sees India's Economic Growth and Outlook as Stable

New Indian Express  

India remains the world's fastest-growing economy, with inflation expected to decline to 4.4% in FY24-25. IMF Director Krishna Srinivasan highlights the country's strong macroeconomic fundamentals, including a large and growing population, favourable harvests, and a stable fiscal situation. Srinivasan suggests that the country focus on creating jobs, removing trade restrictions, and investing in infrastructure and education to strengthen its economy …

Were eight crore new jobs created in three years?
4 months, 3 weeks ago

Were eight crore new jobs created in three years?

The Hindu  

Employment, or the lack of it, has been a major issue of debate among economists and policy makers in India in recent years. Tailing this claim, the research team of the State Bank of India published a validating report that claimed a match between the total number of workers in the India-KLEMS database and in the NSSO’s Annual Survey of …

Job Creation Seems Better Than Before but What About Quality and Sustainability?
5 months, 1 week ago

Job Creation Seems Better Than Before but What About Quality and Sustainability?

The Quint  

India's job market landscape presents a complex narrative, characterised by both positive indicators and underlying anxieties. The Reserve Bank of India recently published 'Measuring Productivity at the Industry Level-The India KLEMS Database,' providing data on employment trends across 27 key industries in India. The database, spanning FY 1980-81 to 2022-23 aims to provide critical data points on economic output, worker …

Good start on job creation but more steps are needed
5 months, 2 weeks ago

Good start on job creation but more steps are needed

New Indian Express  

Ending years of handwringing, the NDA government has finally decided to tackle the issue of high unemployment in the country. Last week, presenting Budget 2025, Finance Minister Nirmala Sitharaman gave job creation the greatest shot of adrenaline, rolling out five new schemes with an unprecedented outlay of Rs 2 lakh crore. The proposed package is expected to facilitate employment and …

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey
5 months, 3 weeks ago

India Needs to Create 78.51 Lakh Jobs in Non-Farm Sector: Survey

Deccan Chronicle  

New Delhi: The government on Monday asserted that the Indian economy needs to generate around 78.51 lakh jobs annually in the non-farm sector to meet growing demand and population growth. “The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce,” said the survey. “Casual …

Economic Survey 2023-24: Only 51% graduates employable
5 months, 3 weeks ago

Economic Survey 2023-24: Only 51% graduates employable

The Hindu  

According to the Economic Survey 2023-24, 65% of India’s fast-growing population is under the age of 35, and many lack the skills needed by a modern economy. The 2022-23 Annual Report of the Ministry of Skill Development & Entrepreneurship notes, “as per National Single SignOn, 2011-12 report on Status of Education and Vocational Training in India, among persons of age …

Productive jobs, skill gap, green transition, China conundrum among focus areas that find mention in the Economic Survey 2023-24
5 months, 3 weeks ago

Productive jobs, skill gap, green transition, China conundrum among focus areas that find mention in the Economic Survey 2023-24

Op India  

The Economic Survey for 2023-24 tabled in the Parliament on Monday has identified six key policy focus areas for the government to achieve sustained economic growth. Those six areas where the government would focus are generating productive employment; skill gap, tapping the full potential of the agriculture sector, easing the compliance requirements and financing bottlenecks confronting MSMEs, managing India’s green …

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector
5 months, 3 weeks ago

Economic Survey 2023-24: Economy needs to generate nearly 78.51 lakh jobs annually in the non-farm sector

The Hindu  

India's workforce is nearly 56.5 crore, with more than 45% employed in agriculture, 11.4% in manufacturing, 28.9% in services, and 13.0% in construction, highlights the Economic Survey 2023-24 released by the finance ministry on July 22. It stated, “The female labour force participation rate has been rising for six years, from 23.3% in 2017-18 to 37% in 2022-23, driven mainly …

Can agriculture sector become India’s growth engine? Economic Survey 2024 says THIS
5 months, 3 weeks ago

Can agriculture sector become India’s growth engine? Economic Survey 2024 says THIS

Live Mint  

The Economic Survey 2024, tabled by FM Nirmala Sitharaman in Lok Sabha, stated that the agriculture sector could be a growth engine for India and the world as the scope for countries to squeeze out growth in manufacturing and services is narrowing due to resource-hoarding, trade protectionism, excess capacity, dumping, and artificial intelligence. “A return to roots, as it were, …

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas
5 months, 3 weeks ago

Jobs Creation, Agri Push, Skill Development, MSME Support: Govt Unveils Key Policy Focus Areas

News 18  

Finance Minister Nirmala Sitharaman on Monday tabled the Economic Survey 2023-24 in Parliament, setting the stage for the Union Budget 2024-25. Skill Gap Challenge The Economic Survey 2023-24 said 65 per cent of India’s fast-growing population is under 35, and many lack the skills needed by a modern economy. In India, the government has been paying focused attention to enabling …

In search of jobs: On the challenge of employment generation
5 months, 4 weeks ago

In search of jobs: On the challenge of employment generation

The Hindu  

Employment generation will remain a major challenge before the Narendra Modi government in its third term, and the upcoming Union Budget is expected to take note of it. The ILO’s India Employment Report had also warned that the share of manufacturing employment was stagnant, at around 12%-14% and the slow transition of jobs from agriculture to non agriculture reversed due …

India Needs to Create 148 mn Additional Jobs by 2030
6 months ago

India Needs to Create 148 mn Additional Jobs by 2030

Deccan Chronicle  

Chennai: India’s transformation from a rural-based economy to a services-led economy is incomplete. As the population continues to grow, India will need to create up to an additional 148 million jobs by 2030 and 324 million jobs by 2050, finds the IMF. “We find that India will need to create 148 million jobs by 2030 and 324 million by 2050 …

Labour ministry rebuts Citigroup's research report on employment in India
6 months, 1 week ago

Labour ministry rebuts Citigroup's research report on employment in India

New Indian Express  

NEW DELHI: The labour ministry on Monday rebutted a recent report by Citigroup which forecast that India will struggle to create sufficient employment opportunities even with a 7 per cent growth rate. The ministry in a statement said the report "fails to account for the comprehensive and positive employment data available from official sources such as Periodic Labour Force Survey …

Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate
6 months, 1 week ago

Economic Survey 2024: 7.85 million non-farm jobs needed annually till 2030; over 7% fall in unemployment rate

Hindustan Times  

The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The rising employment of flexi workers through staffing companies can be a channel for ensuring social security for informal workers, it stated. "Consequently, the Indian economy needs …

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup
6 months, 1 week ago

India won't be able to create enough jobs over next decade even if economy grows 7%: Citigroup

Hindustan Times  

India will struggle to create enough jobs for its growing workforce over the next decade even if the economy grows at a rapid pace of 7%, Citigroup Inc. said, suggesting the world’s most-populous nation will need more concerted steps to boost employment and skills. India will struggle to create enough jobs for its growing workforce over the next decade even …

Has the growth of India’s economy translated into domestic jobs?
9 months ago

Has the growth of India’s economy translated into domestic jobs?

Live Mint  

Recently, two international organizations published their assessment of India’s labour market and employment situation. Over the 42 years between 1980-81 and 2021-22, non-farm employment in India grew at a compounded average annual growth rate of 3.16%. As stated in its report, the concern of the World Bank is that the employment ratio in South Asian economies, including India, has declined …

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?
9 months, 2 weeks ago

Can India Ensure Living Wages at a Time When Workers Struggle for Minimum Wage?

The Quint  

Recruitment happened through middlemen, the pay was based on piecework, and most workers preferred daily wages to avoid deductions for benefits from their already meagre income of Rs 300. Even though company hostels provided them with shelter, migrant workers were still classified as daily wage earners, receiving no benefits. Although these workers perform industrial work, qualifying them as organised sector …

Hiring in India: 37% employers planning to increase staff strength by 2024 March
1 year, 1 month ago

Hiring in India: 37% employers planning to increase staff strength by 2024 March

Live Mint  

India has one of the strongest hiring sentiments in the world over the next three months, with 37 percent of businesses planning to increase their staff levels in response to strong domestic demand, a report has stated. As per the survey, India and the Netherlands reported strongest net employment outlooks at 37 percent, followed by Costa Rica and the US …

Labour and its discontents
1 year, 3 months ago

Labour and its discontents

Hindustan Times  

There is a widespread consensus that employment generation is India’s central economic challenge. At one level, it can be argued that failure to reduce the employment share of agriculture is India’s biggest labour market challenge. At another, it can also be argued that the quality of non-agricultural jobs, caste-based inequalities in labour markets and a big gender gap in employment …

Indian economic prospects may require a more realistic analysis
1 year, 4 months ago

Indian economic prospects may require a more realistic analysis

Live Mint  

The chaos and cacophony of bazaars have a life-affirming quality. Walking through a Delhi bazaar last week, chatting with friendly shopkeepers and roadside merchants and revelling in the warm glow of traditional India, it was impossible not to feel optimistic about the country’s prospects. Recall that, in 2020-21, India’s economy, still recovering from an unwarranted demonetization, contracted by 7% as …

How much employment generation does the economy need? - The Hindu
1 year, 6 months ago

How much employment generation does the economy need? - The Hindu

The Hindu  

Economists associated with the government have been arguing that there is not much unemployment since enough employment is being generated. The current population increase will impact the labour force 15 years later when those born this year will potentially join the labour force. So, even though Mr. Debroy discounts circa 2003-04, children born then are precisely the ones who have …

India's GDP growth exceeds expectations, but key to 'Amrit Kaal' lies in manufacturing
1 year, 7 months ago

India's GDP growth exceeds expectations, but key to 'Amrit Kaal' lies in manufacturing

Firstpost  

The coming 24-25 years will be crucial to India in determining its stakes as a global political and economic power. The fifth-largest economy now needs to gear up to its highest potential, with the manufacturing sector being given a fair chance to show its charisma Outperforming expectations, India’s GDP grew at the rate of 6.1 per cent in the last …

India’s economy picks up speed amid global slowdown
1 year, 7 months ago

India’s economy picks up speed amid global slowdown

Al Jazeera  

With 6.1% quarterly growth, India remains one of the fastest growing emerging economies, especially as China’s recovery stumbles. India’s economic growth has accelerated to 6.1 percent in the January–to-March quarter, boosted by government and private capital spending even as private consumption remained sluggish, government data shows. The manufacturing sector, which for the past decade has accounted for just 17 percent …

Year in Review | Indian economy amid global headwinds
2 years ago

Year in Review | Indian economy amid global headwinds

The Hindu  

Multiple headwinds at varied points of time impacted the Indian economy’s thorough economic revival in the calendar year 2022. “India’s growth rates in real terms of 9.7% in the first half of this year is well above the trend in other countries and is happening amid tightening global financial conditions and the commodity price shock since the Ukraine invasion by …

Indian manufacturing sector and the great transformation under Narendra Modi
2 years, 1 month ago

Indian manufacturing sector and the great transformation under Narendra Modi

Firstpost  

With the vision of transforming India into a manufacturing hub, our government under the leadership of Prime Minister Narendra Modi took concrete steps towards improving various business parameters In 2014, when Prime Minister Narendra Modi took the reins of our nation, India had been tagged as one of the so-called “Fragile Five” nations alongside Indonesia, Brazil, Turkey, and South Africa, …

The Indian economy needs a radical reset
2 years, 4 months ago

The Indian economy needs a radical reset

Live Mint  

Much has been written this past week about our achievements and failures of the past 75 years. To employ the 9 million persons joining the labour force every year and absorb the 89 million backlog of unemployment by 2047 we will need to generate some 12 million additional jobs every year. So the Indian economy will be quite transformed by …

Achieving 11pc growth in next decade possible if India capitalises on demography, exports: RBI Dy Guv
2 years, 5 months ago

Achieving 11pc growth in next decade possible if India capitalises on demography, exports: RBI Dy Guv

India TV News  

RBI growth forecast: India can "bend time' and catapult to an 11 per cent growth rate in the next decade if it capitalises on the demographic dividend, and boosts manufacturing, as well as exports, RBI Deputy Governor Michael Patra said on Saturday. "India must raise the share of manufacturing to at least 25 per cent of GDP to become a …

At 75, India seeks way forward in big but job-scarce economy
2 years, 5 months ago

At 75, India seeks way forward in big but job-scarce economy

Associated Press  

NEW DELHI — As India’s economy grew, the hum of factories turned the sleepy, dusty village of Manesar into a booming industrial hub, cranking out everything from cars and sinks to smartphones and tablets. If I live like this, how will my children live any better?” Entire families leave their homes in India’s vast rural hinterlands to camp at such …

Joblessness on the rise in India
2 years, 8 months ago

Joblessness on the rise in India

The Hindu  

After many years of refusing to recognise there is a jobs crisis in India, the government of India, faced with relentless data to the contrary, has now resorted to misinformation. As compared to the 8% per annum GDP growth in the period 2004-14, and 7.5 million new non-farm jobs created each year over 2005 to 2012, the number of new …

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report
2 years, 9 months ago

India’s GDP can grow to $40 trillion if working-age population gets employment: CII report

The Hindu  

India’s Gross Domestic Product can grow from the current $3 trillion to $9 trillion by 2030, and $40 trillion by 2047, if the country’s working-age population — which is expected to increase by over 100 million people between 2020-30, is productively employed, according to a report by the Confederation of Indian Industry. ‘Golden period’ “The golden period of 30 years …

Organisations in India project 9.4% salary increase in 2022: Aon survey
3 years, 4 months ago

Organisations in India project 9.4% salary increase in 2022: Aon survey

The Hindu  

Notwithstanding the COVID-19 second wave hitting the nation hard, Indian organisations have displayed resilience, and the salary increment is being projected to grow from an average of 8.8% this year to an estimated average of 9.4% in 2022, according to a survey. According to the Aon's 26th Annual Salary Increase Survey released on Tuesday, most businesses have an optimistic view …

Explained: Why India's economy needs a manufacturing push
3 years, 4 months ago

Explained: Why India's economy needs a manufacturing push

India Today  

India’s economy needs a strong manufacturing push as the nation’s dominant services sector struggles to return to normalcy after two deadly waves of the Covid-19 pandemic. Read | Covid-19: India’s services activity in May contracts for 1st time in 8 months SLOW PROGRESS IN MANUFACTURING Even before the pandemic brought the economy to a standstill in 2020, growth in India’s …

India could be back on top as the world’s fastest growing economy this year
3 years, 10 months ago

India could be back on top as the world’s fastest growing economy this year

CNN  

London CNN Business — After plunging into recession for the first time in nearly a quarter of a century, India’s economyshouldcome roaring back to life in 2021. India’s gross domestic product is projected to expand by 12.6% during the country’s fiscal year starting in April, according toa forecast released Tuesday by the Organization for Economic Cooperation and Development. If that …

India's jobless growth, coronavirus impact and rising unemployment
4 years, 4 months ago

India's jobless growth, coronavirus impact and rising unemployment

India Today  

When India’s growth was blooming in 2016-17, it earned the tag of the fastest-growing major economy in the world. READ | Welcome to Jobless Growth: Why India is facing an unemployment crisis They warned that the rate of jobless growth could severely impact India’s economy which depends heavily on the middle class population, engaged primarily in salaried jobs and entrepreneurship. …

India needs to create 90 million jobs by 2030 to avoid economic stagnation
4 years, 4 months ago

India needs to create 90 million jobs by 2030 to avoid economic stagnation

Deccan Chronicle  

Chennai: India’s GDP would have to grow by 8 to 8.5 per cent annually and the country would have to create jobs for 90 million workers by 2030. Over the decade to 2030, 60 million new workers are likely to enter the workforce as per current demographic trends, and an additional 30 million workers could move from farm work to …

Dev 360: Can gutting labour laws spell advantage to India?
4 years, 8 months ago

Dev 360: Can gutting labour laws spell advantage to India?

Deccan Chronicle  

Prime Minister Narendra Modi wants India to be “self-reliant” and a lead player in the 21st century. But can weakening the existing labour laws, which will have a knock-on effect on core labour standards for everyone, help India leverage its demographic dividend? Titled “The impact of core labour standards on Foreign Direct Investment in East Asia”, the paper notes that …

Opinion | Unlocking the economy: policy roadmap for India after 14 April
4 years, 9 months ago

Opinion | Unlocking the economy: policy roadmap for India after 14 April

Live Mint  

Long before the coronavirus surfaced as a pandemic, the Indian economy was in the midst of a serious downturn. The following sectors, taken together, account for more than two-fifths of India’s gross domestic product : manufacturing, mining, construction, trade, hotels & restaurants, and transport. The same sectors, taken together, also account for more than two-fifths of total employment: manufacturing, mining, …

Misses in manufacturing
4 years, 10 months ago

Misses in manufacturing

The Hindu  

ONE of the highlights of the latest Economic Survey is its optimism that India will be able to create 40 million well-paid jobs in manufacturing by 2025. According to the recent Periodic Labour Force Survey, manufacturing employment in India in 2017-18 was only 60.2 million, which was 12.8 per cent of the country’s total workforce in that year. According to …

India set to make modest recovery on reforms: OECD
5 years, 1 month ago

India set to make modest recovery on reforms: OECD

Live Mint  

India’s economy is set for a modest recovery after a loss of momentum, as reforms in taxation, business regulations and steps to upgrade infrastructure start to bear fruit, the Organization for Economic Cooperation and Development said in a report on Thursday. The OECD economic survey of India said Asia’s third largest economy’s growth will slow down to 5.8% in 2019, …

There is no easy fix to declining workforce productivity in India
5 years, 2 months ago

There is no easy fix to declining workforce productivity in India

Live Mint  

Labour productivity in India’s organized manufacturing sector continues its downward spiral. India Ratings and Research’s analysis of the Annual Survey of Industries data showed India’s productivity has fallen significantly over the last eight years. A report published by the State Bank of India Research said India’s labour productivity was significantly lower than global peers. Further, it said that India’s labour …

Employment generation remains the toughest job
5 years, 6 months ago

Employment generation remains the toughest job

Live Mint  

New Delhi: The greatest challenge that the Narendra Modi-led government faces in its second term is that of job creation. At the same time, the share of workers with a regular job was also higher than that recorded in any other official jobs survey in the past. As a Mint analysis based on data from annual reports of companies and …

Employment generation remains the toughest job
5 years, 6 months ago

Employment generation remains the toughest job

Live Mint  

New Delhi: The greatest challenge that the Narendra Modi-led government faces in its second term is that of job creation. At the same time, the share of workers with a regular job was also higher than that recorded in any other official jobs survey in the past. As a Mint analysis based on data from annual reports of companies and …

To create jobs, an industrial policy focused on labour-intensive industries is key
5 years, 7 months ago

To create jobs, an industrial policy focused on labour-intensive industries is key

Hindustan Times  

Manufacturing contributed in 2017 only about 16% to India’s GDP, stagnating since economic reforms began in 1991. Manufacturing contributed in 2017 only about 16% to India’s GDP, stagnating since economic reforms began in 1991 This is the opposite of what was achieved in Japan, Korea, Taiwan and China. By contrast, in India the labour intensive manufacturing sectors like food processing, …

Agenda for new government: Creating jobs
5 years, 7 months ago

Agenda for new government: Creating jobs

India Today  

Irrespective of the political party or formation assuming power in New Delhi after the May 23 result, the biggest challenge for the new government would be to generate adequate employment opportunities - to take care of about 12.8 million new entrants to the workforce every year and those migrating out of agriculture to non-farm sectors. Though no official data is …

Work undone: How India fails its young job seekers
5 years, 7 months ago

Work undone: How India fails its young job seekers

Al Jazeera  

As India goes to polls, Al Jazeera looks at its intensifying unemployment crisis and the politics that surround it. But just today an interviewer told me I’m too qualified,” said the 24-year-old, who is a Dalit – one of the former “untouchable” caste who still face segregation and social exclusion in India. The politics of unemployment In India’s ongoing national …

Discover Related