{"id":236322,"date":"2023-04-05T20:15:53","date_gmt":"2023-04-05T14:45:53","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=236322"},"modified":"2023-04-05T20:15:53","modified_gmt":"2023-04-05T14:45:53","slug":"make-in-india-indians-need-it","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/make-in-india-indians-need-it\/","title":{"rendered":"Make In India. Indians Need It"},"content":{"rendered":"\n

Source<\/strong>: The post is based on the article\u00a0\u201cMake In India. Indians Need It<\/strong>\u201d published in The Times of India <\/strong>on\u00a05th<\/sup> April 2023<\/strong>.<\/p>\n

Syllabus: GS 1 \u2013 <\/strong>Demographic Dividend<\/strong><\/p>\n

Relevance: <\/strong>measures needed to utilize India\u2019s demographic dividend<\/strong><\/p>\n

News<\/strong>: The UN has projected that India would overtake China as the most populous country during April. This has led to debate over the benefits of high demographic dividend.<\/p>\n

How can India utilize its demographic dividend?<\/strong><\/h2>\n

India\u2019s fertility rate has declined to replacement level last year. It has a median age of 28 years, significantly lower than 38 in the United States and 39 in China.<\/p>\n

Hence, India can have the largest workforce in the world for at least the next 25 years.<\/strong> However, India can only materialize if it is able to generate jobs for the millions of youths.<\/strong><\/p>\n

According to the McKinsey Global Institute 2020 report<\/strong>, India needs to create at least 90 million new non-farm jobs to accommodate fresh entrants into the labor force by 2030.<\/p>\n

Must Read: <\/strong>Reaping India\u2019s demographic dividend<\/strong><\/a><\/p>\n

What is the present situation of unemployment in India?<\/strong><\/h2>\n

According to the Centre for Monitoring the Indian Economy<\/strong>, the unemployment rate in March was 7.8%.<\/p>\n

This is an underestimate because of the huge \u2018disguised unemployment\u2019<\/strong>. People who are involved in agriculture and other informal sectors on low wages are also counted as fully employed.<\/p>\n

Further, the female labour force participation rate in India is not only low compared to other South Asian economies but is declining.<\/strong><\/p>\n

Moreover, it has become common in India for post graduates to apply for low-level government jobs. This highlights the quality of education and the problem of employment in India.<\/p>\n

How can jobs be created and what are the challenges?<\/strong><\/h2>\n

There is a misconception that the software industry as a service provider has been a big job creator. In reality, the large majority of jobs created in the services sector have been the low wage, low productivity type in the informal sector.<\/strong><\/p>\n

Further, there are views that India should focus on the services sector because the demand for services will grow as aging populations in rich countries will consume more services than goods.<\/p>\n

However, along with skilling its labour force, India needs to focus on the growth of its manufacturing industry.<\/strong> It has the potential to meet the job challenge and create millions of jobs for youths.<\/p>\n

In this regard, the government\u2019s \u2018Make in India\u2019 campaign is the hope and expectation that India can replicate the China model of export to the rich world.<\/strong><\/p>\n

However, the development of robotics and machine learning are taking away jobs in the manufacturing sector and India is also looking for friend-shoring and reshoring of production.<\/p>\n

Must Read: <\/strong>At the centre of job creation<\/strong><\/a><\/p>\n

What lies ahead?<\/strong><\/h2>\n

India imports goods worth over $100 billion annually from China. If even half of this can be made at home by productivity improvement, it will mean millions of jobs.<\/p>\n

Therefore, India should look forward to expand its manufacturing sector to reap the benefits of demographic dividend.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article\u00a0\u201cMake In India. Indians Need It\u201d published in The Times of India on\u00a05th April 2023. Syllabus: GS 1 \u2013 Demographic Dividend Relevance: measures needed to utilize India\u2019s demographic dividend News: The UN has projected that India would overtake China as the most populous country during April. This has… Continue reading Make In India. Indians Need It<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[263,10496],"class_list":["post-236322","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-1","tag-times-of-india","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/236322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=236322"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/236322\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=236322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=236322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=236322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}