This persistent growth gap is the root of the country’s employment crisis. The hope that the manufacturing sector would be a major job creator is diminishing as automation increasingly replaces human labour.
India’s Job Crisis: The prevailing narrative often emphasises job creation, yet the core issue extends beyond mere numbers. The focus must shift from merely generating employment to creating ‘good’ jobs that provide decent wages, job security, and opportunities for advancement. This necessitates a fundamental change in approach, prioritising rapid and inclusive economic growth.
Economic growth isn’t just a numerical target; it’s the lifeblood of a nation’s prosperity. Achieving sustained high growth rates is paramount to addressing the multifaceted challenges of job creation, poverty reduction, and social development.
A robust economy, expanding at a healthy pace, generates a multiplier effect. It stimulates demand across sectors, leading to increased production, investments, and consequently, the creation of new jobs. Jobs catalyse consumption, triggering the virtuous growth cycle. This upward spiral is crucial for improving the quality of life for millions of Indians.
Conversely, a sluggish economy stifles job creation, leading to suppressed wages, reduced consumption, and a further economic downturn. This vicious cycle exacerbates income inequality.
Diese Geschichte stammt aus der September 07, 2024-Ausgabe von BW Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 07, 2024-Ausgabe von BW Businessworld.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
The Rise and Evolution of Coffee Culture in India
AS A BANGALORE native, South Indian filter ‘Kaapi’ has always been a significant part of our tradition.
The Daily Ground Goes Desi
Success in Tier-2 and Tier-3 cities hinges on several key factors, with one of the most important being the ability to offer high-quality products at an accessible price point
Cracking The Indian Code
TARUN JAIN, CEO of Tim Hortons India believes in creating an experience at cafes by blending global quality, local flavours and affordability
Making Coffee the New Chai in India
Affordable, great-tasting coffee made fast-abCoffee is reshaping how India drinks coffee
Scripting A New Era Of Coffee In India
From a bootstrapped startup to international expansion, NOTHING BEFORE COFFEE is brewing its way to the top by challenging the giants of the coffee industry with innovation, personalisation, and sustainability
"Driven By A Younger Demographic, Coffee Culture Is On The Upswing"
SUNIL D'SOUZA, Managing Director and CEO of Tata Consumer Products, discusses the company's strategic growth in India's booming coffee market, focusing on premiumisation, innovation, and expanding consumer experiences both at home and in cafés, in this exclusive conversation with BW Businessworld's Tarannum Manjul
Fresh Brew, Big Ambitions
From startups to stores, Beanly's Samayesh Khanna and Rahul Jain elevate India's coffee culture by making freshly brewed coffee a daily delight
"On Track To Become India's Top Café Chain"
In an exclusive interview, RAJAT AGRAWAL, CEO of Barista Coffee, shared insights on the company's current market position, expansion strategies, and its response to growing competition
"Ensuring A Seamless Coffee Experience Outside The Cafe Is The Next Big Thing To Watch Out For"
In an exclusive conversation with BW Businessworld's Resham Suhail, Third Wave Coffee CEO RAJAT LUTHRA and its Co-founder AYUSH BATHWAL delve on how they are navigating the competitive landscape, going beyond retail and tapping changing consumer preferences
Go Glocal
Crafting experiences with a glocal touch, Tata Starbucks CEO SUSHANT DASH is credited with pioneering personalised coffee culture in a tea-loving nation