Prime Minister Narendra Modi’s ambitious ‘Make in India’ campaign aimed to increase the manufacturing sector contribution to the Gross Domestic Product (GDP) from 15% to 25%. ‘Make in India’ can similarly transform manufacturing into a hotbed for creating new jobs, aided by robust domestic demand, abundance of resources, availability of low-skilled and semi-skilled labour force, strong entrepreneurial culture and a sound legal system.
India has become Investment destination for many foreign investments which may boost our GDP and employment opportunities.
US-based First Solar Inc and China’s Trina Solar have plans to set up manufacturing facilities in India.
Clean energy investments in India increased to US$ 7.9 billion in 2014.
Samsung Electronics Co Ltd has invested Rs 517 crore (US$ 83.11 million) towards the expansion of its manufacturing plant in Noida, Uttar Pradesh (UP) under the UP Mega Policy.
India is currently among the top 10 sourcing countries for IKEA. The plan is to double sourcing from India to ├óÔÇÜ┬¼630 million (US$ 688.61 million) by 2020.
Shantha Biotechnics Pvt Ltd has started building a facility to manufacture Insuman, an insulin product to treat diabetes. Sanofi SA, which acquired Shantha Biotechnics, will invest Rs 460 crore (US$ 73.93 million) to build the facility.
BMW and Mercedes-Benz have intensified their localisation efforts to be part of ‘Make in India’ initiative.
Suzuki Motor Corp plans to make automobiles for Africa, the company’s next big bet, as well as for India at its upcoming factory in Hansalpur, near Ahmedabad, Gujarat.
Recently Pepsi Company inaugurated the first phase of country’s largest beverage plant in Sri City. About PepsiCo’s vision for 2020 announced in 2013, under which the company would invest Rs 33,000 crore in the country.
Indian employers report dynamic hiring prospects for the quarter ending March 2015. Nearly 45% of employers anticipate an increase in the staffing levels while on an average, the net employment outlook seems to have increased by 42%.
The strongest hiring intentions are reported in the South and the West, where net employment outlooks stand at 47% and 44%, respectively. Employers in the North also report bullish hiring intentions with an outlook of 43%, while the outlook for the East stands at 32%.
The net employment outlook for India stood at 38 per cent, indicating that job seekers may benefit from a robust hiring pace in the months ahead.
Sector-wise, the most optimistic hiring plans are reported by employers in the transportation and utilities sector and mining and construction where net employment outlooks stand at 47 per cent and 45 per cent.
Manufacturing and export-oriented companies in India added 178,000 jobs in July-September 2014 as job creation softened after a robust June quarter, according to the quarterly jobs data released by the labour ministry.
Though the September quarter number was lower than the June quarter’s 178,000 jobs, it was much higher than the two previous quarters. In the March 2014 quarter, employment generation contracted by 38,000 while in the quarter to December 2013, jobs grew by 91,000.
Among the sectors, textiles, and information technology and business process outsourcing (IT/BPO) continued to register robust growth, while automobiles saw a turnaround.
At the sectoral level, the maximum increase in employment is seen in the IT/BPOs sector (59,000) followed by textiles, including the apparels sector (51,000), metals (48,000), automobiles (29,500), and gems and jewellery sector (9,000) during the reference period.
The labour ministry survey showed that of the total 161,000 jobs added, 72,000 are in the contract or casual category and the rest are direct or permanent jobs.
The 72,000 figure is the highest in at least last four quarters or since October-December 2013. In the June quarter, companies had added only 23,000 casual jobs.
The survey results shows maximum increase in employment is reported in the metal sector (32,000), followed by IT/BPOs (18,000), automobiles (12,000).