‘Commodity market can create additional 5 mn jobs in 5 years’

Commodity market can create an additional five million jobs over the next five years.

Written by PTI | New Delhi | Published: April 11, 2013 10:23 pm

Commodity market can create an additional five million jobs over the next five years if the liberalisation policies are continued,a top official of commodity exchange MCX said today.

“5 million jobs can be created in next five years if liberalisation policies are continued and forward and backward linkages are improved further,” MCX Vice-Chairman Jignesh Shah said at a book launch ‘A Million Jobs and a Million more opportunities’.

According to a study commissioned by MCX and conducted by Tata Institute of Social Sciences,the government has to spend Rs 18,000 a year to create one job. In an year,Rs 180 crore is spent to create one million jobs.

“IT industry grew with tax exemption and other benefits of the government. But the commodity futures market has grown rapidly and created one million direct jobs without any tax benefits and subsidies,” Shah said.

The study,which was released here today,highlights the wide range of economic linkages that the commodity exchange ecosystem creates by connecting people with numerous opportunities of employment and sustainable income.

The study profiles people who depend on and derive benefit from MCX through various aspects of its value chain and functioning.

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