Viksit Bharat goal needs 100mn jobs: Tata Sons

New Delhi: As India embarks on the journey to become a developed nation, the country needs to create 100 million jobs to meet the employment needs of the growing workforce, Tata Sons Chairman, N Chandrasekaran, stressed.

The Tata Group has also doubled down on creating more manufacturing jobs in the country, as the whole ecosystem is brimming with multiple opportunities for the Indian companies, especially 500,000 small and medium enterprises (SMEs).

According to Chandrasekaran, as the Tata Group invests in semiconductors, precision manufacturing, assembly, electric vehicles, batteries, and related industries, it can create five lakh manufacturing jobs in the next five years.

Sectors like semiconductor manufacturing have a ‘multiplier effect’ and can create multiple indirect jobs. “We need to create 100 million jobs towards becoming a developed nation,” he said during an event organised by the Indian Foundation for Quality Management.

Nearly one million people enter the workforce in the country every month, making job creation in manufacturing essential for the future growth of the country.

Last month, Prime Minister Narendra Modi met the leadership team of Tata Sons and Taiwan’s Powerchip Semiconductor Manufacturing Corporation (PSMC), which are building a Rs91,000 crore mega semiconductor fabrication facility in Gujarat’s Dholera. In March, PM Modi laid the foundation stone of the Tata-PSMC chip plant in Gujarat. The fab construction will generate over 20,000 direct and indirect skilled jobs in the region. The Tata Group’s semiconductor plant in Assam will produce 4.83 crore semiconductor chips per day, along with generating 15,000 direct and up to 13,000 indirect jobs once operational.