India faces problem of creating good jobs, says Panagariya

Advocating the need to expand the textile industry, Panagariya said that India’s share in global clothing industry is not very large.

By: Express News Service | Gandhinagar | Published:July 3, 2017 2:51 am
india jobs, unemployment india, NITI Aayog, niti aayog Arvind Panagariya, Panagariya on jobs, india employment, textiles india 2017, business news Panagariya also said: “There is a big debate being going on for some time now. Claims that this (India’s economic growth) has been a jobless growth…is bogus. (Source: Express Photo)

Stating that India is facing a problem of generating “good jobs” for its population, NITI Aayog vice-chairman Arvind Panagariya on Sunday said that the textile sector has an important role in addressing the problem. He said that the clothing industry within the textile sector can provide good jobs at a relatively much lesser investment.

Panagariya was speaking at the valedictory function of Textiles India 2017, a trade fair, at Mahatma Mandir here, which was also attended by Union textile minister Smriti Irani information & broadcasting minister M Venkaiah Naidu.

Panagariya also said: “There is a big debate being going on for some time now. Claims that this (India’s economic growth) has been a jobless growth…is bogus. This cannot be logically correct…Nevertheless, we do have a different job problem; jobs in the formal sector are a bit in short supply… The textile and clothing industry is an industry where good jobs can be created with relatively limited investment…” he said.

Panagariya added: “India has a lot of successful industries starting from auto parts, to automobile, pharmaceuticals, software industries…but all of these industries are not huge job generators…they create jobs, but for the amount of investment that they do, not enough jobs…clothing industry in particular within textile is one industry which has a huge potential for good jobs…”

Panagariya said that he was speaking with some clothing exporters who had invested Rs 35 crore and was providing employment to 2200 workers. “I think for Rs 35 crore investment, jobs to 2200 workers that pay them around Rs 15,000 to 20,000 (monthly)…that is a huge job creator…This is what we need…this is where large volume of jobs can come…this is where the Textile 2017 fair is important” he added. Advocating the need to expand the textile industry, Panagariya said that India’s share in global clothing industry is not very large.

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