Rise in unemployment now demands Indian economy to create 100 million new jobs in the upcoming decade in order to match the need and satisfy the talent looking for jobs. This will also help in raising the growth potential of the country. In a recent report published by Nagarik: Inclusive Growth through High Scale Employment Generation, it is said that India has a huge population and in that too the majority comprises 65% youth in the overall. In order to meet their demands, the government has to create new job opportunities.
The report argues that there are few practical methods by which large scale jobs can be created by connecting local resources of districts to the country’s market. The report noted that in the coming decade India needs to create employment opportunities that can fit five continents like Australia into it. It is quite challenging but if tackled with foresight and vision this will truly satisfy the employment needs of the country and create an inclusive growth.
Labor Force Participation Rate Essential
The report says that India needs to increase its labor force participation rate in order to provide sufficient opportunities to its working class, especially women. The report suggested that India needs to match its LFPR with the global standard of 63.2%. The report suggested that the potential of employment and jobs can be trapped in smaller districts of the country where majority of the population resides. Connecting the local resources with market, nurturing new entrepreneurs, and creating a business environment is the way forward for sustainable development.
For this the country needs to connect well with its local population that resides in small districts by ways of communication, roads, infrastructure and many more.
Practical Approach to Generate Employment
A platform known as Nagrik offers five-pronged growth objectives. It also provides all round solutions to employment challenges which also includes marginal employments. The platform also offers defined solutions for augmenting jobs in sectors such as agriculture, agro-processing, MSMEs and tourism. The platform aims to use practical methods in order to generate employment. Focusing on tourism by spending some money in renovating some places that have potential to attract tourists can increase employment for locals through many ways. Few small MSMEs can generate many jobs.
The Nagrik platform, precisely defined by Shanshank Tripathi, who is a partner and leader in the company, is the platform that keeps the citizens in the middle of job creation equation and strategy. It asks for participation of private sector participants for finance and market connect while the government can be a catalyst and enabler. If the strategy as mentioned by Nagrik would be adopted then as per their estimate, India will be able to create good job opportunities for its people in the next one decade. The emphasis should be on how to use small and smart methods to create jobs.