Employment could rise by 22% by 2028 as India targets $5 trillion economy goal: Employment outlook report

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As India approaches its $5 trillion economy goal, overall employment could rise by 22 per cent, while unemployment could decline by 97 basis points by 2028, a report showed on Tuesday. The ‘India Employment Outlook 2030’ report by Observer Research Foundation explored trends across India’s job market at a time of geopolitical churn, supply chain disruptions, and a decline in manufacturing but an explosion of services. India’s economy could touch $5 trillion by 2026-7, driven by the pool of human capital that its young population represents, and undergirded by robust public investment and private consumption, contends the report. The burgeoning service sector also offers encouraging avenues for women’s employment. Hence, investing in women’s skilling, financial inclusion, and entrepreneurship needs to be prioritised further, argues the report. Read More