Jobs: Best job creation strategies: How to reap the benefit of India's demographic dividendBy Atul Raja and Kushal PrakashWhen the number of cellphones sold in India touched the billion mark in 2013, India manufactured very few cellphones.
Mindful of the growing mobile phone market in the country, the government increased the import tariff for mobiles in 2015 (making the import of finished mobile devices more expensive than producing it locally – an exercise known as correcting the inverted duty structure).
The reform, along with a few structural changes, made India one of the fastest growing mobile manufacturing economies in the world with more than 42 plants set up in the last two years, generating direct and indirect employment for over four lakh people.
Also, with 98% of total VC funding going to startups located in just six cities, the regional skew in the number of new jobs created is high, leaving the potential of an otherwise vast nation almost untapped.
New age sectors like defence and aerospace, education and healthcare, and burgeoning green sectors like solar energy and wind, present another massive opportunity to identify ‘upcoming jobs’ and prepare talent accordingly.
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