February 2020 \ Business & Investment \ Business and governance
Follow Chinese model to create 4 crore jobs by 2025: Eco Survey

Given that unemployment and lack of jobs remains ...

  • Mr K Subramanian

Given that unemployment and lack of jobs remains one of the big failings of the Government, the Economic Survey 2019-20 has set out a framework using a Chinese model on how India can create four crore well-paid jobs by 2025 and 8 crore jobs by 2030.

The integration of “assemble in India for the world” with the Modi Government’s Make In India initiative can help the country to become a $5 trillion economy by 2025, it suggested. For the record, Make in India remains a programme whose success is yet to be determined. India has unprecedented opportunity to chart labour-intensive export trajectory similar to the one in China, the Economic Survey said. “Exports of network products can provide one-quarter of the increase in value added required for making India a $5 trillion economy,” it added.

The survey also suggested a strategy that was also followed by China to grab the opportunity. From specialisation at large scale in labour-intensive sectors to trade policies, the survey drafted a formula for growth and job creation in the country.