Manufacturing may create 3.2 mn jobs in 2012-17: Assocham says

Posted By: Religare
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Manufacturing may create 3.2 mn jobs in 2012-17: Assocham says
A rebound in the Indian manufacturing sector may not only contribute to the country's economic growth, but also help boost employment, reducing the income and inequality gap in Asia's third biggest economy.

According to industry body Assocham, India's manufacturing sector may create about 3.2 million additional jobs during the ongoing 12th five-year plan (2012-17).

The report said that in the 11th five-year plan (2007-12), India's manufacturing sector achieved 28.5 per cent growth in employment creation.

During the five-year period 2007-12, the registered manufacturing sector generated an additional 2.9 million jobs.

"An additional 2.9 million jobs were generated in the registered manufacturing sector during 2007-08 to 2011-12 from over 10.45 million jobs in 2007-08," the report by Assocham said.

The share of Tamil Nadu in total jobs in India's registered manufacturing sector stood at 14.5 per cent, with that of Maharashtra and Gujarat at 14 per cent and 10 per cent, respectively.

During the 11th five-year plan, the state of Uttarakhand, witnessed the highest growth rate in terms of job creation in the registered manufacturing sector.

Indian factories have been curbing output in recent months as demand and investment slump amid a deepening economic slowdown.

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