Apple's three vendors in the country have hit the milestone of creating 30,000 new direct jobs since the production-linked incentive (PLI) scheme for mobile devices kicked off in April 2021. Based on the government's estimate that one direct job in the electronics industry helps to generate three indirect ones, Apple's vendors, Foxconn Hon Hai, Wistron and Pegatron, are close to creating 100,000 direct and indirect jobs. The direct jobs that the vendors have created account for a fourth of Apple's commitment to generate 60 per cent of the new direct jobs out of the 200,000 jobs targeted by the government under the PLI scheme within five years.
The key to job creation is to increase labour participation - draw more people into the labour force and to provide them formal jobs in the organised sectors. Self-employment is not job creation, says, Mahesh Vyas.
According to the report by WEF and Deloitte Touche Tohmatsu, the manufacturing sector not only adds value to the overall economic growth but also helps in creating more jobs than any other sector.
The highest number of jobs were created in the age group of 18-21 at 1.29 million, followed by 22-25 years of age at 1.12 million during these seven months.
States are mandated to develop and implement 'heat HAPs' for prevention of heat-induced diseases. But most do not go beyond standard advisory on heat prevention.
Speaking about the tough phase he went through, Allahbadia said he doesn't consider it as a punishment.
Global rating agency Fitch on Thursday affirmed India's 'BBB-' rating with a stable outlook on strong growth outlook and fiscal credibility. Fitch said India is set to remain among the fastest-growing sovereigns globally with GDP growth of 7.2 per cent in the current fiscal year and 6.5 per cent in FY26, down from 8.2 per cent in FY24. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," the global rating agency said in a statement.
The report further revealed that the BPO/call centre industry has dropped down several places, forfeiting its second position on the list to the manufacturing industry, which has shown promising growth.
The TMC-led West Bengal government has already started laying the groundwork for the election, setting the tone with the recent Bengal Global Business Summit and the state Budget.
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 (PLFS) and the Reserve Bank of India's KLEMS data."
The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve 'Insurance for All by 2047'. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency norms, issuing captive license, change in investment regulations, one-time registration for intermediaries and allowing insurers to distribute other financial products, sources said.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
ASK Wealth Advisors says 5 million, CMIE's estimate is 2 million and Ghosh & Ghosh said it was 7 million!
Delhi's appeasement strategy may now translate as more mega arms deals with the US, generating substantial business and job creation in the American economy. Make no mistake, Americans will use it to pressure India, predicts Ambassador M K Bhadrakumar.
Measures to promote ease of doing business, cut in tax rates for smaller enterprises to 25 per cent, and reduction in interest rates are creating the right atmosphere for new businesses to flourish, particularly SMEs.
'The girl who helps me at home has had a tough life, yet her perspective of life is so much more positive than mine despite the hardships she's endured.'
The minister said Indian economy was the fastest growing.
The true story lies beyond the dazzling ramp. It is in the tireless efforts of everyone involved both in front of and behind the camera.
Will allowing business correspondents to hawk insurance products help in reviving 5-lakh strong field agents as a viable channel?
Jobs and job creation are going to be the US' priority over the next year, not protectionism against outsourcing, says Bob Mcdonnell, Governor of the state of Virginia.
'At least 25 Olympic-sized swimming pools worth of plastic chewing gum gets dumped.' 'And because the way people spit it out, there's no possible way this plastic can be recycled.'
An increase in the farmer income support scheme PM Kisan Nidhi, the introduction of a 'robot tax' to fund reskilling of people who lose their jobs to artificial intelligence (AI), and a reduced income-tax (I-T) to bring relief to the middle classes - these are some of the items in the Budget wish list submitted by Sangh Parivar affiliates to Finance Minister (FM) Nirmala Sitharaman. Representatives of the affiliates of the Rashtriya Swayamsevak Sangh (RSS), such as the farmer organisation Bharatiya Kisan Sangh (BKS); trade union Bharatiya Mazdoor Sangh (BMS); Laghu Udyog Bharati, which works for micro and small industries; and Swadeshi Jagran Manch (SJM), which works on economic and policy issues, met the FM and other officials over the last couple of weeks as part of the pre-Budget consultations.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
January 2019 saw the maximum number of employment being generated since the data from September 2017, reports Indivjal Dhasmana.
About 13 million first time car/two-wheeler buyers are entering the market every year. If employment creation is such a big issue, where are these people coming from, asks Mahesh Nandurkar.
Tejashwi Yadav on Friday called out Union Minister Giriraj Singh for sharing an "edited video" of an interview to suggest that the young Rashtriya Janata Dal leader was going back on his promise to create 10 lakh jobs in the state.
'Expect India to keep doing well irrespective of geopolitics.'
While workers in the United States and Europe are having a difficult time in not only finding a job but also keeping it, the situation in South Asia, including India, is somewhat different.
'The BJP's numbers in this government are almost the same as those enjoyed by the Congress under P V Narasimha Rao when the reform process was kicked off in 1991.' 'As before, the only constraints on the prime minister's actions are internal, not external.' 'They come from his own assessment of the political consequences of any action,' points out Mihir S Sharma.
While praising the internship scheme announced in the Budget, India Inc wants clarity on how it will be implemented. The scheme is expected to help companies address the skill gap in employment. Dheeraj Hinduja, chairman, auto major Ashok Leyland, said: "We had started an internship programme at our plant in Pantnagar, which we established in 2010 with colleges there.
The domestic technology industry's revenue is projected to grow 3.8 per cent to $254 billion this fiscal, industry body Nasscom said on Friday and highlighted creation of 60,000 more jobs during this period. The industry had clocked a revenue of $244.6 billion in the same period last year, according to Nasscom's annual strategic review report. Excluding hardware, the revenue is expected to touch $199 billion, a growth of 3.3 per cent over FY23, as per the report.
Of the 3,893,149 registered applicants on the MP Rojgar portal, only 21 individuals have been successfully placed in government and semi-government positions since April 2020.
The Survey noted that while women account for almost half of India's population, their participation in labour market is almost one-third and has been declining.
'Make in India'presents a huge opportunity for jobs.
In tackling India's unemployment problem, look beyond the finance minister and focus on the education minister, points out Gurbachan Singh.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
Under the Atmanirbhar Bharat Rozgar Yojana announced by the Centre to incentivise formal sector job creation, all 'new employees', who were never a part of the EPF system in the past, and those who made an exit from employment during the Covid-19 pandemic from March 1, 2020, to September 30, 2020, will be eligible for the benefit.
'Mr Modi has inherited a system that taxes businessmen and fritters the money away over ministries.'
National Aeronautics and Space Administration will soon provide advanced training to Indian astronauts, with the goal of mounting a joint effort to the International Space Station, a top American diplomat said Friday.
The minister further said another industry chamber Federation of Indian Chambers of Commerce and Industry too had contradicted the Assocham study, which had said that in the next 10 days or so about 25 to 30 per cent employees are likely to lose jobs in seven sectors including aviation, information technology, steel, financial services, real estate, cement and construction.
