Akshata Sharma
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India will face a significant challenge in job creation despite potential economic growth, according to a Bloomberg report citing Citigroup Inc.
Over the next decade, as India's workforce continues to expand, there will be a need to create approximately 12 million jobs annually to accommodate new entrants into the labour market.
However, even with an economic growth rate of 7%, Citigroup's economists Samiran Chakraborty and Baqar Zaidi project that India might only be able to generate between 8 and 9 million jobs each year.
Additionally, the quality of employment remains a concern. Despite nearly half of the workforce being employed in agriculture, this sector contributes less than 20% to the gross domestic product (GDP), highlighting a significant disparity in job quality across sectors.
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