India is on the path to becoming a 5 trillion dollar economy. With the country’s goal of becoming a developed nation by 2047, better income distribution will require more formal and quality jobs than ever before. This information has been given in a new report that came recently. According to a report by Deloitte, it is very important for the government to pay attention to the expansion of the manufacturing sector, because the arrival of workers in this sector increases the chances of getting formal employment.
Need for more jobs in this sector
51.4 percent of the jobs in the manufacturing sector are related to salaried people. This change will increase the income stability of people living in the absence of regular salary and social security. Additionally, the growth of the service sector will aid in the formalization of jobs, encouraging workers to acquire formal education and enhance skills.
Focus on emerging industries
Growth in emerging industries such as semiconductors and electronics will create opportunities that require advanced education and specialized skills, creating high-quality jobs. Additionally, India’s move towards clean energy options will create green jobs in various sectors, including energy, agriculture, tourism and transportation, the report said.
young population big strength
India’s greatest strength is its young, ambitious population. Researchers believe that the ability to learn decreases with increasing age. This shows that young people are more likely to learn new skills quickly. A study found that young minds and brains are naturally more flexible and exploratory. This positions India to reap substantial benefits from investment in skills development.
Recognizing the potential of the youth, the government has recently announced initiatives to run internship programs and provide education loans for higher education. According to the report, “These will go a long way in improving the employability and skills of Indian youth. Many states are also striving to become important players in the growing Indian economy. They are actively involved in formal employment generation and skill development. Are investing.