Boosting Employment in India: CII's Strategic Recommendations

As India prepares for its FY26 budget, the Confederation of Indian Industry (CII) has put forward a comprehensive seven-point agenda aimed at significantly enhancing employment opportunities across the nation. With a youthful demographic and a rapidly expanding workforce, India stands at a pivotal moment to harness its demographic dividend for inclusive growth and economic prosperity.

Key Initiatives for Job Creation

The CII's proposals include the establishment of an integrated national employment policy, support for labor-intensive sectors, and the creation of an international mobility authority. These measures aim to not only generate mass employment but also to bridge the gap between education and professional skills through initiatives like government internship programs in rural areas.

Empowering Women and Strengthening the Workforce

Highlighting the importance of increasing women's participation in the workforce, CII suggests innovative solutions such as the construction of dormitories using CSR funds and the establishment of government-supported creches in industrial clusters. Furthermore, the formalization of sectors like the care economy and the implementation of labor codes are seen as crucial steps towards a more inclusive and robust employment landscape.

Global Opportunities and Skill Development

With many parts of the world facing workforce shortages, India has a unique opportunity to position itself as a global talent hub. The proposed international mobility authority, under the Ministry of External Affairs, would facilitate G2G collaborations and help Indian youth tap into overseas employment opportunities. Coupled with skill development programs aligned with global demands, including cultural and foreign language training, India can significantly enhance its workforce's global competitiveness.

Productivity and Economic Growth

Chandrajit Banerjee, Director General of CII, emphasizes the need for higher productivity alongside employment growth. With India's Incremental Capital Output Ratio (ICOR) currently at 4.1, there is a pressing need for metrics to measure and improve productivity. An expert committee, as suggested by CII, could provide detailed recommendations to drive economic growth and productivity enhancements.