N Chandrasekaran
– Photo: ANI
Expansion
Tata Group Chairman N Chandrasekaran on Tuesday said his group will create five lakh jobs in manufacturing sectors related to semiconductor, electric vehicle, battery and related industries in the next five years.
Speaking at a symposium of the Indian Foundation for Quality Management, the Tata Sons chairman said India cannot achieve its goal of being a developed nation if it cannot create jobs in the manufacturing sector.
He said, “…between our (Tata Group’s) investments in semiconductors, our investments in precision manufacturing, assembly, electric vehicles, batteries and related industries, I think we will create five lakh manufacturing jobs in the next five years ”
“We are setting up multiple plants,” he said, citing Tata Group’s upcoming semiconductor plant in Assam and other new manufacturing units for electric vehicles and batteries.
Although he did not have complete details, Chandrasekaran said that based on “basic mathematics”, these jobs would have a multiplier effect. He said that since the ecosystem is to be set up, at least 5 lakh companies – small, medium scale companies will also come into the ecosystem.
He appreciated the government’s support in these initiatives and stressed the need for employment generation in the manufacturing sector. “We cannot achieve the goals of a developed India if we cannot create jobs in the manufacturing sector, because we all know that 10 lakh people are joining the workforce every month,” he said.
Chandrasekaran further said, “We need to create 10 crore jobs.” He stressed the importance of new age manufacturing such as making semiconductors, which creates eight to ten indirect jobs for every one employed.