Bombay:
Ruling BJP lawmaker Jayant Sinha said on Wednesday that the pace at which India is creating formal jobs is insufficient and that attention should be paid to opening quality jobs to the people.
Speaking at a youth conclave organized by the IMC Chamber of Commerce, Mr. Sinha said that creating quality jobs is a major challenge for India at a time when technologies such as artificial intelligence and machine learning are staring at us, which can be seen as job-cutting. said the member of parliament from Hazaribagh.
“We… need to do a much better job of creating quality employment for our young people… we need to be able to create quality, formal jobs very, very quickly and that rate is not enough at the moment,” said the former minister of the Union.
He said India currently has more than a billion people of working age between 18 and 64 years, and more than 200 million will be added to the labor force in the next decade, making it a significantly important task.
“If you ask people in rural India, in level III, IV cities, they all want high quality formal jobs. And we are not creating enough quality jobs for them,” he said.
Mr Sinha said that the farm-to-factory model, focusing on industrialization and urbanization, which has worked since the industrial revolution and helped economies from the UK to China, will not work in the future and India will have to develop its own growth model that will emphasize sustainability.
India will need to make “rapid and transformative adjustments” not just in energy systems but the entire economy if we are to follow the path of sustainable prosperity, Sinha said.
Huge investments will be required to bend the climate change curve fast enough to reach net zero commitment by 2070, he said, adding that business will also have to participate.
Sinha said the top 500 publicly traded companies currently invest about $65 to $70 billion a year in sustainability efforts and that the same amount should be doubled “immediately” if we are to reverse the curve and reach net zero by 2070.
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