As India votes to choose its next government at the Centre, the opposition has targeted the current government on the lack of job opportunities and unemployment. However, Incumbent PM and BJP leader Narendra Modi said that the indicators say otherwise.
Modi, eyeing a third consecutive term as the Prime Minister, spoke about the employment scenario in the country in an interview with The Economic Times. “Look at the indicators which prove the job generation. The returns filed by individual taxpayers more than doubled from 3.36 crore in 2013-14 to 8.18 crore in 2023-24,” Modi said.
Employee Provident Fund Organisation (EPFO) payroll data shows that over 6 crore new EPFO subscribers have been added in the last seven years, indicating a surge in youth employment. “PLFS data shows that between 2017 and 2023, the participation rate of the worker population ratio has increased to over 56%, and unemployment is at a historic low of 3.2%,” he added.
India is now creating jobs: Modi
PM Modi said that every Indian could dream about achieving success under his Viksit Bharat vision. “Viksit Bharat is a nation where no one is too small to dream and no dream is too big to achieve. Viksit Bharat is a nation where social circumstances or birth do not limit anyone's growth. Everyone, no matter who they are, can aspire to reach the heights of success,” he said.
Modi also spoke on the startup environment and opportunities his government has created in the last ten years. “Look at the startup sector, for example. We went from just a few startups in 2014 to nearly 1.37 lakh in 2024. We have 100+ unicorns today, and we're the third largest startup economy in the world,” he said.
“In the last ten years, we have not just stressed and worked on the creation of jobs, but also invested our efforts in nurturing and creating job creators,” added Modi.
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He credited the MUDRA loan scheme that has helped start crores of businesses and entrepreneurial ventures.
Under the MUDRA scheme, loans up to Rs 10 lakh are given to non-corporate, non-farm small/micro enterprises. are given to
Speaking about startups leading the way in research and development, Modi said, “In R&D, we're leading the way. Startups themselves have registered over 12,000 patents. And last year, a record 90,300 patent applications were received. India's youth, empowered with opportunities and innovation under this government, have become the driving force behind the nation's remarkable growth trajectory.”
“Viksit Bharat is a nation with sustained high growth, strong manufacturing, services, agriculture and technology. It is a nation where economic growth is inclusive, where poverty is a thing of the past,” said the prime minister.
India’s manufacturing drive
Regarding creation of jobs in the manufacturing sector, Modi said, “There was a time when India had only two mobile manufacturing units and over 90% of the mobiles were imported. Today 200+ units are manufacturing mobile phones and almost all the mobile phones used are made in India. We are now the second largest exporters of mobile phones in the world.”
“There were times when the potential of toy manufacturing and local artisans was overlooked. Today local artisans are making for the world. Their talent is getting recognised world over. There has been a decline in toy imports by 52% and rise in exports by 239% since 2014,” Modi added.
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The semiconductor industry is one of the fastest growing industries and the demand keeps increasing. “We are also focusing on semiconductor manufacturing and are taking rapid strides in this direction,” said Modi.
Continuing on the manufacturing industry, the prime minister focused on ‘Aatmanirbhar Bharat’ and the importance of self-reliance. He went back to the Covid-19 pandemic and talked about the country’s vaccination and PPE kit manufacturing.
Spelling on India's dependence on imports, Modi said, “For years, we used to rely on the world for even small items. Not only did it create dependencies but it also caused loss of precious foreign exchange.”
Apart from jobs through startups, several rozgaar melas have helped create lakhs of jobs, Modi claimed.
“Our gig economy is also thriving and is expected to grow exponentially in the coming years, with over 20% engaged in highly skilled jobs,” he said.
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Apart from generating employment and supporting startups, Modi spoke about his vision for the next five years.
He said that the government would focus on all sectors and bring about infrastructural development across the nation. “Viksit Bharat is a nation with world-class transportation networks, renewable energy systems, and smart urban development.”
