Jobless Economic Growth

  • Information technology and service sector driven economy, (~60% contribution to GDP) which is not labour intensive in nature.
  • Stringent labour laws prevent firms/factories from getting bigger and employ large numbers of people.
  • Poor infrastructure, lack of capital and energy issues are hindering the development of the manufacturing industry, which is very important to create new jobs and employment.
  • Ease of doing business, environmental clearance, credit availability and poor business environment for MSMEs which can drive low-cost high employment industries.
  • Decline in exports and increasing import competitiveness in labour intensive sectors like textiles, jems and jewellery with countries like Vietnam, China, etc.
  • Poor quality of education and lack of proper skills and training, which make them unemployable.
  • Protests and social movements against large-scale projects like POSCO, TATA motors.

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@gourabppanda

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