What are India's short-term economic goals under the EAC-PM?

India's short-term goals focus on achieving a 7.7% growth rate by generating skilled jobs and improving employment quality.

How does India plan to achieve 'Viksit Bharat 2047'?

Viksit Bharat 2047 aims for inclusive growth by increasing investments, domestic savings, promoting exports, and enhancing job quality.

Why is the manufacturing sector important for India's economy?

Manufacturing is crucial for creating labor-intensive employment and drives growth in the services sector, essential for India's development.

Home / Business and Economy / India Targets Skilled Jobs for Economic Boom

India Targets Skilled Jobs for Economic Boom

9 Jan

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Summary

India aims for 7.7% growth by focusing on skilled jobs.
Manufacturing sector is key to creating labor-intensive jobs.
Improving employment quality is crucial for inclusive growth.

India Targets Skilled Jobs for Economic Boom

India is strategically shifting its economic focus towards cultivating skilled employment and enhancing the quality of jobs available. This initiative is a cornerstone for achieving sustainable economic development, with the nation targeting a robust growth rate of 7.7 percent for the period between 2022-23 and 2025-26. This ambitious plan is supported by efforts to invigorate investments, bolster domestic savings, and expand exports, demonstrating India's resilience post-COVID.

The Economic Advisory Council to the Prime Minister (EAC-PM) emphasizes that while economic recovery is underway, the country must address its lag in employment quality. This is considered vital for inclusive growth, alongside efforts in education, health, and nutrition. The 'Viksit Bharat 2047' vision encompasses not just economic expansion but also ensuring that growth benefits all segments of society, tackling challenges such as precarious gig work and low female labor force participation.