Demographic Dividend and Labour Reforms Set to Drive Future Growth in India

India has created over 8 crore new employment opportunities, harnessing its demographic dividend. Labour reforms are crucial for future growth, driving job creation and economic development.

Demographic Dividend and Labour Reforms Set to Drive Future Growth in India
Sat, 06 Jul 2024

In a recent industry interaction, Sumita Dawra, Secretary at the Ministry of Labour & Employment, Government of India, emphasized the importance of demographic dividend and labour reforms in driving future growth. This comes as no surprise, given the significant strides made by the country in terms of employment opportunities.

According to statistics, over 8 crore new employment opportunities were created in India during the past five years (till 2021-22). Moreover, more than 1 crore vacancies have been mobilized on the National Career Service (NCS) portal during the current fiscal year (2023-24). These numbers demonstrate the country's progress in providing job opportunities to its citizens.

The demographic dividend refers to the relatively young population of India, which presents a significant advantage in terms of growth and development. With the right policies and reforms in place, this dividend can be harnessed to drive economic growth and create more employment opportunities.

As the country continues to navigate the complexities of the global economy, it is crucial that labour reforms are implemented to ensure a conducive environment for businesses to thrive. This, in turn, will create more job opportunities and contribute to India's overall growth story.

Published by Chronicles Of India. Scroll down to read more