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Jobs in India | Economic Survey: How to solve India’s jobs crisis, the China way

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The Economic Survey 2019-20, tabled by FM Nirmala Sitharaman in Parliament today, suggested a way to solve India‘s jobs crisis by taking a leaf out of China‘s book.

The survey cites the example of China to underline how India can become a trade super power by way of exports. During the period between 2001-2006, labour-intensive exports helped China generate 70 million jobs for workers with primary education, it says.

The Surveys said that exports growth provides a much-needed pathway for job creation in India. The survey laid special emphasis on the ‘Assemble in India for the world’ theme. It suggested the integration of this theme into Make In India, which it said can raise India’s export market share to about 3.5 % by 2025 and 6 % by 2030.

In India’s case, a boost in exports helped convert around 8,00,000 jobs from informal to formal between 1999 and 2011. In view of these numbers, the survey suggests that India can follow China’s path to find the answers to its job woes.

According to the survey, if India is able to corner a sizeable share of the global exports market as envisaged, about 4 crore well-paid jobs would be created by 2025 and around 8 crore by 2030.

If these export targets are achieved, it would take India’s export of network products to $248 billion by 2025, and would make up about one-quarter of the increase required for making India a $5 trillion economy by 2025, the survey said.

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