Wanted Job Creators

After the astonishing mandate in UP, Prime Minister Narendra Modi announced his vision for a ‘New India’ by 2022. The poor, he said, do not want handouts, they want opportunities to succeed. Opportunities, as in jobs. By 2020, India is predicted to be the youngest country in the world, with an average age of 29. By 2030, an estimated 250 million Indians will join the workforce. A report by the Boston Consulting Group and Confederation of Indian Industry notes the challenges India faces to ensure jobs keep pace with growth

12-15

MILLION NONAGRICULTURAL JOBS ARE NEEDED PER YEAR

5%

UNEMPLOYMENT RATE IN 2015-2016, AS ESTIMATED BY THE LABOUR BUREAU. THE HIGHEST IN FIVE YEARS

75

MILLION IS THE ACTUAL NUMBER OF JOBS CREATED, FROM INCREASED PRODUCTIVITY. THERE’S A SHORTFALL OF 280 MILLION JOBS

2%

RATE OF JOB GROWTH IN INDIA BETWEEN 2004 AND 2012, WHEN AVERAGE ANNUAL GDP GROWTH RATE WAS 8.1%

8

MILLION JOBS ADDED EVERY YEAR BETWEEN 2004 AND 2012, LEAVING A SHORTFALL OF 4-7 MILLION JOBS

355

MILLION JOBS SHOULD HAVE BEEN ADDED BY 2011-2012, IF EMPLOYMENT TO GDP RATIO STAYED THE SAME AS IN 1999-2000

6%

VENTURE CAPITAL INVESTED IN INDIA IN 2014, ACCORDING TO THE WORLD ECONOMIC FORUM. COMPARED WITH 60% IN THE US AND 18% IN CHINA