EMPOWERING INDIA: CREATING 50 LAKHS JOBS IN THE INDIAN MANUFACTURING SECTOR BY 2025

Abstract

This study examines the pertinent approaches and policy initiatives required to develop 50 lakh new jobs in India's manufacturing sector in industries like pharmaceuticals, textiles, electronics, and automotive manufacturing by 2025 to alleviate the nation's unemployment issues and promote economic growth. The increased employment capacity will require a synergy of government actions with private sector engagement, infrastructural and supply chain development, and technical advancements to foster a vivacious manufacturing ecosystem. The facilitation of business operations and cost reduction in India is expected to have a positive impact. Attracting foreign investment and privatizing state-owned businesses can further leverage prospects. Both educational institutions and manufacturing establishments can cultivate flexible labor markets with skilled labor by facilitating government-sponsored training programs. This study investigates the scope of measures that can be undertaken to grow employment opportunities in the manufacturing industry in India for the industry to realize its full potential.