India's employment challenge

19 MAY,2022 | MEDC


 

India's biggest policy challenge remains that of employment. We cannot afford any more jobless growth. The main reason for lower workforce participation in India is that we are unable to utilize our surplus labour effectively for developing a robust manufacturing base. This is precisely where China scores over us. The current policy of incentivizing a small number of large firms may help partially, but it is unlikely to generate sustainable results of the magnitude required. That calls for a more comprehensive policy approach, addressing diverse socioeconomic issues ranging from modernizing labour laws to rationalizing tariff structures. Without creating a sufficiently large manufacturing base, India risks wasting its demographic dividend. Many Indians are reluctant to join the labour force due to a lack of adequate opportunities, which strategically developed manufacturing could provide.

 

*Picture Credit: Google

 

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