CII’s Seven-Point Agenda for Employment Generation: Budget Update
NEW DELHI: The Confederation of Indian Industry (CII) has put forth a comprehensive seven-point agenda aimed at enhancing employment generation in India, with hopes that the upcoming annual budget for FY26 will incorporate these crucial measures. The focus on job creation is imperative to effectively engage the burgeoning young population and foster inclusive growth in the nation with the world’s largest population.
The Urgent Need for Employment Solutions
India, with a median age of just 29 years, stands on the cusp of adding 133 million individuals to its working-age population by 2050. This demographic dividend presents a unique opportunity that must be harnessed through strategic interventions. CII’s proposal includes the establishment of an integrated national employment policy, targeted support for labor-intensive sectors, and the creation of an international mobility authority, among other key initiatives.
Promoting Skill Development and Gender Inclusivity
One of the standout recommendations from CII is the introduction of an internship program within government offices located in rural areas. This initiative not only promises to provide short-term employment opportunities for college-educated youth but also aims to bridge the gap between theoretical education and practical skills. By augmenting the available manpower resources, this program can significantly enhance the execution of rural programs and government initiatives.
Moreover, CII emphasizes the importance of enhancing women’s participation in the workforce to bolster the Indian economy. Proposals such as constructing dormitories using Corporate Social Responsibility (CSR) funds, formalizing sectors like the care economy, and establishing government-supported creches in industrial clusters are crucial steps towards increasing female labor force participation.
Exploring Global Opportunities
As a part of its multifaceted agenda, CII suggests the creation of an international mobility authority under the Ministry of External Affairs. This authority would facilitate government-to-government collaborations to help Indian youth explore overseas employment opportunities. By aligning skill development programs with global demands, including cultural and language training, India can equip its workforce to thrive in the international arena.
Chandrajit Banerjee, Director General of CII, underscores the importance of not just increasing employment but also enhancing productivity. He highlights the need to reduce India’s Incremental Capital Output Ratio (ICOR) and suggests the establishment of an expert committee to delve deeper into this critical aspect.
In conclusion, CII’s seven-point agenda for employment generation presents a holistic approach to address the pressing needs of the Indian workforce. By focusing on skill development, gender inclusivity, and global opportunities, India can pave the way for a more robust and sustainable employment landscape.
