Growth Without Jobs Leads To Social And Political Unrest: AP Finance Minister | SupportBiz

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Growth Without Jobs Leads To Social And Political Unrest: AP Finance Minister

 
By 2020, India’s average age would be 29 years much below the other two Asian giant economies Japan and China, said Yanamala Ramakrishnudu
Andhra Pradesh finance minister Yanamala Ramakrishnudu has said that the fruits of economic growth can be realised only when adequate jobs are created. 
 
He was speaking at the Confederation of Indian Industry’s (CII) Partnership Summit being organized in cooperation with the Government of Andhra Pradesh and the Department of Industrial Policy and Promotion, Government of India, in Visakhapatnam. This is the 22nd edition of CII’s flagship annual event, and this year’s theme is ‘Partnership for a Shared and Sustainable World Economy’. 
 
“By 2020, India’s average age would be 29 years much below the other two Asian giant economies Japan and China. In order to reap demographic dividend out of it, we need to invest in skill development and skill upgradation. In Andhra Pradesh, there are two crores people employed in unorganised sector. The Andhra Pradesh Skill Development Corporation is working to impart employment oriented skill to the youths of the State,” Ramakrishnudu further emphasised.  
 
The plenary session was also addressed by Jayadev Galla, Member of Parliament (Lok Sabha); Vice Chairman and Managing Director Amara Raja Batteries Limited; Venkatesh Shukla, President TiE Silicon Valley USA;  Celestin Monga, Managing Director on Programme Support and General Management Division, United Nations Industrial Development Organisation (UNIDO), Austria.  Thomas Kring, Chief Technical Advisor, Sub-regional project “Way Out of Informality”, International Labour Organisation (ILO)DWT for South Asia;  K Pandia Rajan, Chairman, CIEL HR Services Private Limited;  Raghav Narsalay, Managing Director, Accenture Institute for High Performance. 
 
Twenty percent of non-farm jobs will be created in China and India in coming years. Out of this one-third will originate from export sector. Like in the US, where a large number of unemployed people are dependent on Government Schemes, in India too this trend has started, which is not a very encouraging sign for the economy. India also needs to bring necessary reforms in education sector. We need to graduate out of routine learning to critical learning.  
 
There is another area, which India needs to focus upon and that is overseas employment. Last year nearly eight lakh Indians got jobs in overseas market. The state employment agencies need to be linked to overseas employment. There is a great hope from the “Start-Up”, which Prime Minister Narendra Modi will be formally launching this month. It has to result in jobs creation and spreading of wealth.  
 
Agriculture, which is the foundation of any economy, needs to be made more technology friendly. This will help in incentivising youths to explore career options in agriculture sector, which provides a tremendous opportunity for creativity.